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News Release for "RECEPTAGEN LTD"
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NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: RECEPTAGEN LTD.
TSE SYMBOL: RCG
OTC Bulletin Board SYMBOL: RCEPF
JUNE 2, 1997
Receptagen Ltd. Receives Notice of Allowance for Core
Technology Patent - First Growth Blocker Patent to be
Issued
EDMONDS, WASHINGTON.--Receptagen Ltd. (TSE:RCG/OTCBB:RCEPF) today
announced that Receptagen Corporation, a wholly owned subsidiary
of the Company, recently received a Notice of Allowance from the
U.S. Patent and Trademark Office for an application relating to
its "Growth Blocker" technology. The patent covers methods for
preventing or inhibiting cellular uptake of vitamin B12 .
The Company has discovered that this leads to apoptosis
(programmed death) of cells, and therefore has potential
application in diseases involving excessive proliferation, such as
cancer and autoimmunity. This marks a significant milestone for
the Company in protecting one of its core platform technologies
and is the first Notice issued out of the sixteen applications
that are pending relating to the Company's "Growth Blocker"
technology. The Company expects the value of the patent portfolio
to increase even further as additional Notices of Allowance are
anticipated to be issued later this year.
Vitamin B12 is a necessary nutrient for cells to divide and
multiply. The treatment of leukemic patients with nitrous oxide,
which inactivates B12 throughout the body, but has undesirable
side effects, demonstrates the potential human clinical use of the
Company's technology. Recently, blocking cellular uptake of
vitamin B12 using Receptagen's technology has been shown to
prevent tumor cells from growing in laboratory tests.
This technology is being developed in conjunction with the
University of British Columbia, the National Research Council of
Canada, and the University of Washington. Receptagen received a
University-Industry matching grant from the Medical Research
Council of Canada last year to pursue this promising approach.
Clive Woodhouse, Ph.D., Vice President of Research and Product
Development said, "Issuance of this patent is very important
because, to our knowledge, it will be the only one covering the
prevention of cellular B12 uptake for the treatment of unwanted
proliferation in humans. It is the first of several applications
that Receptagen filed in the U.S., Canada, and other foreign
countries to protect various aspects of the platform technology."
He also stated, "This year we expect to identify a lead small
molecule "Growth Blocker" compound to move into clinical
development."
Receptagen is actively involved in two operations in Edmonds,
Washington: Receptagen Corporation, which pursues worldwide
development of proprietary "Growth Blocker" drugs to induce
apoptosis (programmed cell death) in cancer cells; and Ryan
Pharmaceuticals Inc., which owns the exclusive rights to U.S.
commercialization of Coenzyme Q10 (CoQ10) for use in treating AIDS
symptoms.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Receptagen Ltd.
Clive S. Woodhouse, Ph.D.
Vice President, Research & Product Development
1-800-558-8846
or
Receptagen Ltd. |
