I've been thinking more about the run up in GEB. I suspect it is part of the overall investor excitement in genome-related biotech plays. GEB's announcement that they are extending their drug delivery technology into gene delivery must be what has everyone excited. Geez, I wish I had bought more a couple of weeks ago when the news release below came out...
The question is, how high can it go in the near term before a pull back. Is there any trading opportunity?
Genetronics Expands Electroporation Technology Applications; -
Announces Business Model for Expansion into Gene Therapy
Marketplace -
8:33 EST Wednesday, February 2, 2000
SAN DIEGO, Feb. 2 /PRNewswire/ -- Genetronics Biomedical Limited
(Amex: GEB; Toronto) announced today the extension of its platform technology,
electroporation, into gene therapy. Electroporation therapy (EPT) has proven
to be a highly effective method to deliver therapeutic molecules (such as
drugs or genes) into cells. EPT applies pulsed electric fields directly to
target tissue creating transient permeability of the cell's outer membrane
thus facilitating the uptake of drugs or genes into the cell's interior.
Genetronics focused its initial efforts developing products for the
oncology marketplace, where it has demonstrated the promise of EPT in head and
neck cancer and has partnered with Ethicon Endo-Surgery to bring this therapy
to market. Pivotal trials will begin in 2000 in the U.S. and the product will
be launched in Europe this year.
With completion of the Human Genome Project within sight, and functional
genomics science in full swing, the genetic components of many diseases both
inherited and acquired, will likely be discovered. Armed with this new
information, treatments of the future will be better able to affect underlying
causes of a disease by applying various aspects of gene therapy. In current
disease treatments, as in the case of EPT treatment of cancer, chemotherapy
drugs are delivered directly into the tumor, thereby treating the
manifestation of the disease. By moving into gene therapy, and participating
in the future of gene-based medicine, Genetronics is shifting its focus from
treating manifestations to treating the underlying disease.
One of the main challenges in gene therapy to date has been in the
delivery of the gene. "Our studies indicate that we have developed an
excellent non-viral mechanism for gene delivery," said Martin Nash, Chief
Executive Officer of Genetronics. "EPT technology allows remarkable
flexibility in what we can deliver. In gene therapy for example, since we are
not confined to viral encapsulation, we can deliver very large genes or other
molecules such as antisense molecules, oligonucleotides or the next generation
agents such as ribozymes or DNAzymes."
Nash continued, "We are actively exploring a number of collaborations to
further advance our work in this area. Our goal is to have five gene therapy
agreements signed by the end of this quarter."
The business model Genetronics has developed for gene therapy envisions
three structures of relationship. The Company will enter into Research
Agreements that involve provision of off-the-shelf electroporation equipment,
which a partner can use with existing protocols to experiment with a
particular gene. The next level will be Development Agreements whereby
Genetronics develops specific parameters optimizing electrical assisted
delivery of a partner's gene. The third level encompasses License Agreements,
and will be exclusive for a particular gene or gene family. An example of
relationship that falls within this business model is the previously announced
(November 8, 1999) deal with Boehringer Ingelheim.
Genetronics, Inc., founded in 1983, is a San Diego-based drug and DNA
delivery company specializing in developing technology and hardware, which
will potentially allow physicians to more efficiently and cost-effectively
deliver life-saving drugs or beneficial genes to patients with catastrophic
illnesses, including cancer.
This press release and the Company's Website may contain certain forward-
looking statements. Actual events or results may differ from the Company's
expectations as a result of a number of factors, including those set forth in
Genetronics' Annual Report, on Form 10K and subsequent regulatory filings.
There can be no assurance that any product in Genetronics product pipeline
will be successfully developed or manufactured, or that final results of human
pilot studies or clinical studies will be supportive of regulatory approvals
required to market products. The American and Toronto Stock Exchanges have
not reviewed and do not accept responsibility for the adequacy or accuracy of
this release.
Visit Genetronics' Website at genetronics.com
SOURCE Genetronics Biomedical Limited
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