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Biotech / Medical : Biotransplant(BTRN)

BTRN 35.59

-0.9%

Oct 30 5:00 PM EST

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To: Icebrg who wrote (1420)	4/24/2003 7:45:36 PM
From: keokalani'nui	Read Replies (1) of 1475

BioTransplant Provides Update On MEDI-507 Clinical Status Thursday April 24, 4:12 pm ET MEDFORD, Mass., April 24 /PRNewswire-FirstCall/ -- BioTransplant Incorporated (OTC Bulletin Board: BTRNQ.OB - News) today announced that MedImmune Inc., the Company's partner in the development of MEDI-507, has provided an update on its development program for psoriasis. In a morning conference call for investors, MedImmune announced plans to postpone the initiation of further clinical studies with MEDI-507 in psoriasis pending the completion of a Phase II trial of Vitaxin(TM), MedImmune's investigational monoclonal antibody, in psoriasis. MedImmune indicated that its plans to evaluate MEDI-507 for T-cell lymphoma have not changed, and that it intends to initiate a trial for that indication. "We are obviously disappointed with this development," stated Donald Hawthorne, President and Chief Executive Officer of BioTransplant. "We are actively addressing the potential impact of this news and considering various strategic options. We intend to provide an update on our strategy once finalized."

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