Altachem Pharma Ltd. Achieves Milestone with Potential Anti-Cancer Compound
Wednesday October 15, 9:36 am ET
Trading Symbol: AAF:TSX Venture Exchange
EDMONTON, Oct. 15 /CNW/ - Mr. Warren Jackson, President and CEO of Altachem Pharma Ltd. is pleased to announce that Altachem's latest cancer drug candidate ACP 2127 has displayed impressive results on initial tests compared with other CDK inhibitors in its class.
ACP 2127 is a novel immunomodulator with anti-cancer properties targeted to inhibit CDK functionality and prevent the growth of cancer cells. Cyclin-dependent kinases ("CDKs") are the proteins that control the growth cycle of cancer cells. By using small molecule CDK inhibitors to disrupt the cycle of a cancer cell, the growth and spread of cancer can be stopped.
"While we are optimistic about the prospects for CDK inhibitor strategy, the results are preliminary but provide Altachem with the confidence to move this technology into preclinical studies," states Mr. Jackson. Mr. Jackson also states, "Upon entering the preclinical phase, we have assigned a new code name to this CDK inhibitor, ACP 2127, giving Altachem four lead proprietary drugs."
Based on the impressive results of this compound, ACP 2127, Altachem is aggressively prosecuting a world-wide patent to protect and increase the value of this technology.
Altachem acquired the world rights to this technology in March 2002. As consideration for purchasing the technology, Altachem is required to issue common shares as milestones are met. The achievement of this development milestone will result in Altachem issuing 100,000 common shares.
Altachem Pharma Ltd. is a publicly traded (TSX Venture Exchange: AAF - News), Alberta-based pharmaceutical company committed to the development and commercialization of new pharmaceutical products. The Corporation is developing a multi-tiered, integrated approach for the treatment of HIV/AIDS and cancer using non-toxic therapeutic products and adjunct therapies. The lead products of the Corporation are based on its four proprietary drugs: ACP-HIP, HB Injectable, HB Topical and ACP 2127. The Corporation's manufacturing facilities located in Edmonton, Alberta and Shanghai, China are certified compliant with internationally recognized quality systems standards.
Certain information contained in this press release may be forward- looking and is subject to unknown risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct. This is neither an offer to buy or sell a security. For informational purposes only, from sources deemed to be reliable.
"TSX Venture Exchange has neither approved nor disapproved of the
information contained herein."
For further information
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
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Source: Altachem Pharma Ltd. |
