ITHACA, N.Y., June 9 /PRNewswire/ -- Paracelsian Inc., (Nasdaq: PRLN), a
development stage company, announced today that it has canceled its proposed
product launches of AndroVir(TM) and AndroCar(TM) as dietary supplements.
"The FDA (Food and Drug Administration) has made it very clear that the
Company's plan to market AndroVir and AndroCar as dietary supplements,
targeted respectively to the AIDS community and to cancer patients, would
cause the FDA to classify these products as drugs, not dietary supplements,"
said Keith A. Rhodes, Paracelsian's chairman and president. "Given the FDA's
position, we have determined that it would not be economically viable to
introduce these products as dietary supplements for the general population.
Accordingly, we are canceling our dietary supplement strategies for AndroVir
and AndroCar at this time."
"We are exploring other potential near-term commercialization options
relative to Andrographis paniculata and other compounds in Paracelsian's
library of more than 2,800 Chinese herbal extracts," Rhodes said.
Paracelsian is a biotechnology company engaged in the discovery of useful
products from herbal sources. Its discoveries are made possible by applying
the Company's proprietary screening technology, based in signal transduction,
to its library of extracts used in Traditional Chinese Medicine.
SOURCE Paracelsian Inc. |
