Canadian Company Press Release
SYB 1999-06-10 (provided courtesy of Canadian Corporate News.)
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SYNSORB Biotech Inc. Licenses Carbohydrate Compounds Targeting Cystic
Fibrosis Treatment
CALGARY, ALBERTA--SYNSORB Biotech Inc. ("SYNSORB") (TSE: SYB,
NASDAQ: SYBB), a pharmaceutical development company, today
announced that it has licensed technology for the treatment of
lung complications associated with Cystic Fibrosis (CF) from a
consortium including the Canadian Bacterial Disease Network
(CBDN), the Canadian Microbiology Consortium Inc. (CMCI), The
University of Alberta, the University of British Columbia, and
Novadex Pharmaceuticals Limited. In animal model studies, the
licensed compounds have demonstrated utility in both reducing the
viscosity of mucous and inhibiting the proliferation of bacteria
in the lungs of CF patients.
Cystic Fibrosis is an inherited disorder that primarily affects
the lungs and digestive tract, and for which there is no cure. It
is the most common life-shortening genetic disease that affects
the Caucasian population. In North America alone, approximately
33,000 patients suffer from the disorder, and approximately 1,100
new cases are diagnosed each year, usually by the age of three.
CF leads to progressive functional disturbances in various organs,
including the lungs, liver, pancreas, reproductive organs and
joints resulting in an average life expectancy of 31 years.
The basic defect in CF patients is the inability of cells which
line organs such as the lungs and pancreas to effectively
transport sodium and chloride (salt) to the outer surface of the
cell for disposal. Its effects are most devastating in the lungs,
where CF causes the body to produce an abnormally thick, sticky
mucous which clogs the lungs and can lead to fatal infections.
These infections are often caused by bacteria such as Pseudomonas
aeruginosa and Burkholderia cepacia that are very resistant to
current antibiotics. The respiratory problems that result from CF
usually require patients to undergo rigorous daily treatment
programs involving percussion, postural drainage and aerosol
medications.
The compounds licensed by SYNSORB are carbohydrate based. In
animal model and other studies, the compounds have shown to be
effective in the reduction of CF mucous thickness and thus will
enhance the clearance from patients with CF.
"These compounds are very well suited to SYNSORB's expertise in
the area of carbohydrate drug development," said Dr. David Cox,
President and CEO. "Consistent with our strategic direction,
SYNSORB expects to finance the project through a third party
off-sheet financing vehicle, and we are greatly looking forward to
working with the research consortium on this project."
The CBDN is part of the Networks of Centres of Excellence program,
and is a Canada-wide consortium of 53 researchers and their
laboratory personnel whose work focuses on bacterial disease.
CBDN's mission is to advance scientific knowledge and enhance
Canada's economic competitiveness through networking, excellence
in fundamental research on bacterial diseases and collaboration
with industry (putting fundamental science to work). CMCI is
responsible for commercializing technologies resulting from the
CBDN scientific network.
SYNSORB is dedicated to accelerated drug development from the
acquisition of promising compounds emerging from basic research
through clinical development, and ultimately to providing channels
to market for new discoveries. Headquartered in Calgary, SYNSORB
currently has two products in late stage clinical development,
SYNSORB Pk(R) for the prevention of HUS and the treatment of
verotoxigenic E. coli (VTEC) infections (including O157:H7), and
SYNSORB Cd(R) designed to treat recurrent antibiotic-associated
diarrhea (CDAD). SYNSORB has additional compounds in pre-clinical
development, including REOSYN, a potential cancer treatment being
developed within its subsidiary company, Oncolytics Biotech Inc.,
and novel antibiotics, with inflammation and anti-virals targeted
in the Company's research and development program.
Shares of SYNSORB Biotech Inc. trade on the Toronto Stock Exchange
in Canada (symbol "SYB") and on NASDAQ in the United States
(ticker "SYBB").
This release contains certain forward-looking statements which
involve known and unknown risks, delays, uncertainties and other
factors not under the Company's control which may cause actual
results, performance or achievements of the Company to be
materially different from the results, performance or other
expectations implied by these forward-looking statements. These
factors include results of current or pending clinical trials,
actions by the FDA/HPB and those factors detailed in the Company's
registration statement on Form 20 F filed with the Securities and
Exchange Commission.
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FOR FURTHER INFORMATION PLEASE CONTACT:
SYNSORB Biotech Inc.
David Cox, Ph.D
President and CEO
(403) 283-5900
(403) 283-5907 (FAX)
or
The Equicom Group
Jason Hogan
Investor Relations
(416) 815-0700 ex 222
(416) 815-0080 (FAX)
or
SYNSORB Biotech Inc.
W. Douglas Froom
Vice President, Business Development
(403) 283-5900
(403) 283-5907 (FAX)
synsorb.com
For product licensing information |
