Another old favorite showing real promise:
Celsion Is Developing 'Smart Bomb' Cancer Drugs to Target Tumors Using MIT and Duke Technologies
Goal Is to Commercialize Temperature-Sensitive Liposomes to Target Tumors with Cancer Drugs
COLUMBIA, Md., Jan. 24 /PRNewswire/ -- Celsion Corporation (Amex: CLN - news), headquartered in Columbia, Maryland, announced today that it will enter the pharmaceutical field by pursuing the development of temperature-sensitive, drug-laden liposomes for use with its ``focused heat systems'' to target pros- tate, liver, ovarian and other cancers. Celsion will undertake this develop- ment using exclusive licenses from Massachusetts Institute of Technology (``MIT'') for its' ``Smart Bomb'' Adaptive Phased Array (``APA'') focused heat tech- nology and from Duke University to commercialize its' temperature-sensitive liposomes.
On March 1, August 15, and December 15, 2000, Duke researchers published three separate scientific articles in the journal Cancer Research explaining the scientific merit and clinical potential of using Duke's patent pending temperature-sensitive liposome in combination with Celsion's focused heat sys- tem to achieve targeted drug delivery for cancer treatment.
The pre-clinical data summarized in the Duke publications indicates that Duke's temperature-sensitive liposomes release their drugs in tumors in sec- onds (compared with hours using conventional liposomes). Thus, there was an increase in drug concentration in the tumors treated with Duke's liposomes of 30 to 50 times that of conventional liposomes. As a result, 11 out of 11 mice treated with temperature-sensitive liposomes had 100% remission of their cancerous tumors.
Celsion has contracted with a liposome and drug formulation and manufac- turing facility in Canada for production of an initial batch of temperature- sensitive, drug-laden liposomes. This initial batch is sufficient to conduct several large animal toxicity studies as well as a Phase I clinical feasibil- ity demonstration using up to 30 patients. Celsion has signed an agreement with Dartmouth University to conduct a large animal toxicity study to assess safety. That study is expected to begin early in 2001.
Upon successful completion of the large animal toxicity evaluations, Cel- sion plans to file several investigational new drug applications (INDs) with the Food and Drug Administration (FDA) to begin clinical evaluation of heat- activated liposome drug delivery in patients for treatment of prostate, liver and ovarian cancer. Celsion has an agreement with Duke University for patient evaluations and is in negotiations to add several other cancer research insti- tutions as additional investigative sites.
Dr. Augustine Cheung, Celsion's founder, Chairman and Chief Scientific Of- ficer stated, ``I am hopeful that these developments will enable Celsion to evolve, beyond its current scope of using heat alone to treat Benign Prostatic Hyperplasia and breast cancer, and establish its business as a mainstream can- cer treatment company. It is envisioned that in the future the Company will use heat, both alone and in combination with other drugs encapsulated in its temperature-sensitive liposomes, to treat a broad range of cancers and other conditions.''
About Celsion: Celsion Corporation, a Russell 3000 company based in Colum- bia, Maryland, is a research and development company dedicated to commercial- izing medical treatment systems for cancer and other diseases using focused heat technology delivered by patented microwave technology. Celsion has re- search, license or commercialization agreements with leading institutions such as Duke University Medical Center, Massachusetts Institute of Technology, Har- bor UCLA Medical Center, the University of California at San Francisco, the Center for Breast Surgery at Columbia Hospital in Florida, Montefiore Medical Center, Memorial Sloan Kettering Cancer Center in New York and Duke Univer- sity. For more information on Celsion, visit our website: celsion.com.
Forward-looking statements in this release are made pursuant to the ``safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, unforeseen changes in the course of research and development activities and in clinical trials; possible changes in cost and timing of development and testing, capital structure, and other financial items; changes in approaches to medical treatment; introduc- tion of new products by others; possible acquisitions of other technologies, assets or businesses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Com- pany's periodic reports filed with the Securities and Exchange Commission.
For Further Information Contact:
John Mon
Celsion Corporation
410.290.5390
john@celsion.com
Geoffrey Eiten
Natl. Financial Network
888.399.7541 (ext. 613)
geiten@nfnonline.com
Ira Weingarten/Steve Henricks
Equity Communications
888.530.7051
equity@silcom.com
SOURCE: Celsion Corporation |
