Adherex Technologies Announces Extension of AstraZeneca
Collaboration Agreement
Symbol: AHX
Industry: MTC
Subject: PDT
NEWS RELEASE TRANSMITTED BY CCN NEWSWIRE
FOR: ADHEREX TECHNOLOGIES INC.
TSE SYMBOL: AHX
APRIL 4, 2002
Adherex Technologies Announces Extension of AstraZeneca
Collaboration Agreement
OTTAWA, ONTARIO--Adherex Technologies Inc. (TSE: AHX), a biotechnology
company developing novel therapeutics based on cell adhesion technology,
today announced the extension of its collaboration agreement with
AstraZeneca (LSE: AZN & NYSE:AZN), one of the world's leading
pharmaceutical companies.
"During the past six months, Adherex and AstraZeneca have been
collaborating on the development of our proprietary cancer compound,
Exherin," said John Brooks, President and CEO of Adherex. "We have
received excellent support and cooperation from AstraZeneca. We are
excited about the future development of the technology".
"AstraZeneca aims to be the world leader in the treatment of cancer," said
Les Hughes, VP global cancer research, AstraZeneca. "To achieve this,
AstraZeneca is always looking to augment its own discovery pipeline with
opportunities for licensing and collaboration. We are very pleased to be
continuing to work with Adherex on this exciting project and hope that it
will lead to an effective treatment for patients with cancer."
Besides the ongoing drug development work, both companies will be
participating at the upcoming BIO 2002 conference in June, at a session
entitled Vascular Targeting -A New Class of Cancer Therapeutic. This
leading biotechnology conference is sponsored by the Biotechnology Industry
Organization and is expected to attract as many as 15,000 delegates from
around the world.
About Adherex Technologies
Adherex Technologies Inc. (TSE: AHX) is an Ottawa-based biotechnology
company that develops therapeutic drugs based upon its proprietary cell
adhesion platform technology. The lead compound, Exherin, works to destroy
the blood vessels that feed a cancerous tumor, essentially destroying the
tumor's food supply. Adherex's unique cell adhesion platform has the
potential for diverse applications, including drug delivery through the
skin. For more information, please visit Adherex's Web site at
www.adherex.com.
About AstraZeneca
AstraZeneca is a major international healthcare business engaged in the
research, development, manufacture and marketing of ethical (prescription)
pharmaceuticals and the supply of healthcare services. It is one of the top
five pharmaceutical companies in the world with healthcare sales of $16.5
billion and leading positions in sales of gastrointestinal, oncology,
anaesthesia including pain management, cardiovascular, central nervous
system (CNS) and respiratory products. www.astrazeneca.com
This news release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws
of any such state or jurisdiction. Certain information contained in this
news release is forward-looking and is subject to unknown risks and
uncertainties. The actual results, performance or achievements of the
company may differ materially from the results, performance or achievements
of the company expressed or implied by such forward looking statements.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Adherex Technologies Inc.
Darlene MacDonald
Manager of Investor Relations
(613) 738-8000, ext. 245
macdonald@adherex.com
or
National ir
Peter Block
(416) 586-0180
pblock@national.ca
INDUSTRY: MTC
SUBJECT: PDT
-0
End of News |
