ALTACHEM PHARMA ANNOUNCES THE ACQUISITION OF A NOVAL IMMUNOMODULATOR TO BE USED ALONE OR WITH THIER "HYPOCRELLIN BASED PRODUCTS"
News Release
March 18, 2002
For Immediate Release
EDMONTON, ALBERTA - Mr. Warren Jackson, President and CEO of Altachem Pharma Ltd. is pleased to announce the acquisition of a novel immunomodulator with excellent anti-cancer properties. Under this transaction, Altachem will issue from treasury 400,000 common shares subject to certain development milestones being met and the receipt of all necessary stock exchange and regulatory approvals.
It is currently thought that one of the origins of cancer is due to a lapse of the body's immune system to detect cancer cells as invaders of the host. The immunological approach to cancer therapy involves modification of the immune response to cancer cells, which can lead to tumor regression and rejection. The proprietary immunomodulator that is being acquired is to be used alone or in combination with Altachem's "Hypocrellin based products".
Hypocrellins, which are not toxic to the human body, are administered intravenously to cancer patients. Targeting light or ultrasound to the tumor volume excites the compounds to a toxic state, which is an effective means of tumor control. The major advantage of this strategy compared with traditional chemotherapy, is greatly reduced side effects. The Company believes that use of an immunomodulator in combination with the Hypocrellin based product will not only reduce tumor growth, but also limit the spread of the cancer to distant organs. The product is in the late stages of preclinical work.
"The acquisition of this companion product strengthens our product portfolio and helps establish Altachem as a leader in the development of nontoxic treatments of cancer," said Dr. Madi R. Madiyalakan, Executive Vice President for Research and Development.
Altachem Pharma Ltd. is a publicly traded (CDNX:AAF), Alberta-based pharmaceutical company committed to the development and commercialization of new pharmaceutical products to enrich and prolong the lives of people. The Corporation is developing a multi-tiered, integrated approach for the treatment of HIV/AIDS and Cancer. The lead products of the Corporation are based on its two proprietary drugs: HIP and HB. The Corporation's manufacturing facility is certified compliant with internationally recognized quality systems standards, ISO 9002:1994, ISO 13488:1996 and EN 46002:1997.
For additional information, contact:
Roger Andrews, Investor Relations
Altachem Pharma Ltd.
Tel.: (780) 486-8331 Ext. 331
Toll-free: (877) 502-5939
Fax : (780) 448-1436
E-mail: roger@altachempharma.com
Web site: www.altachempharma.com |
