Dundee Securities Initiates Coverage of Procyon Biopharma
MONTREAL, Jan. 21 /CNW/ - Procyon Biopharma announced today that Dundee
Securities Corporation Biotech Analyst, Claude Camiré, initiated coverage of
the Company. The research report follows the recent licensing agreement with
Biovail Corporation for the American marketing rights of FIBROSTAT(R). Dundee
Securities is the third firm to initiate coverage of Procyon's stock.
"We are pleased that Dundee is initiating coverage of Procyon, as it will
provide a wider exposure to potential shareholders," said Hans J. Mader,
President and CEO of the Company. "Procyon continues to achieve significant
milestones in the clinical development and licensing of its products, and with
the anticipated beginning of clinical trials for its anti-cancer technologies
PSP94 and ANA in 2002, it will have all of its four technologies undergoing
human clinical testing this year" he said.
Procyon Biopharma Inc. is a publicly listed, Biopharmaceutical Company
focused principally on advancing two powerful platform technologies that have
the potential to diagnose and treat cancer. Procyon's non-pathogenic
Antinucleosome Antibodies (ANAs) bind specifically to multiple cancer cell
types strongly enhancing the immune response to cancer cells. Prostate
Secretory Protein (PSP94) is a naturally occurring human protein that has the
potential to treat prostate cancer by inhibiting abnormal prostate cell
growth. In addition, the estimation of PSP94 levels in prostate cancer
patients may have prognostic and diagnostic applications. Procyon also has two
late-stage products: FIBROSTAT(R), a topical cream for the management of newly
formed scars following surgery or burns recently licensed to Biovail
Corporation and COLOPATH(R), a rapid, non-invasive screening test for
colorectal cancer licensed to IMI.
Procyon's shares trade on the Toronto Stock Exchange under the ticker
symbol, PBP. |
