TO ALL: Anyone have details on Polydex Pharmacueticals? The POLXF thread is dead but news was out today regarding a Cystic Fibrosis drug they have developed:
Polydex Pharmaceuticals Ends Negotiations to Acquire Del Crane
SCARBOROUGH, ONTARIO (Nov. 4) BUSINESS WIRE -Nov. 4, 1997--
Cites Encouraging Hospital Reports on Its Cystic Fibrosis Drug
Polydex Pharmaceuticals Limited (NASDAQ: POLXF) announced today that it
has ended negotiations to acquire privately held Del Crane Medical,
Inc. and associated companies.
Polydex President George G. Usher said that the company would refocus
its strategy to step up development of its cystic fibrosis drug,
Usherdex-4. "In the past two weeks, Polydex has received encouraging
hospital reports that Usherdex-4 demonstrated its ability to reduce
lung mucus from a molasses-like level to a watery state.
"As a result of this clinical discovery, Polydex will need to increase
its production capacity of Dextran, the basic building block of
Usherdex-4. The board of directors has therefore decided to
concentrate financial and personnel resources on its cystic fibrosis
drug, which might be brought to market sooner than originally
expected," Usher said.
Polydex Pharmaceuticals Limited researches, develops, manufactures and
markets biotechnology based products for veterinary, human
pharmaceutical and cosmetics industries worldwide.
Note: The statements in this press release may contain certain
forward-looking elements. Actual events or results may differ from the
company's expectations. In addition to the matters described in this
press release, future actions by the Food and Drug Administration or
equivalent foreign regulatory authorities, results of pending or future
clinical trials, as well as risk factors listed in the company's SEC
filings, may affect the actual results achieved by the company.
-0- kvc/ny*
CONTACT: Polydex Pharmaceuticals Limited
George G. Usher, President
(416) 755-2231 / 76145.1165@compuserve.com
or
Cavior Organization
Warren J. Cavior
(212) 687-6070 / caviorg@aol.com
KEYWORD: NEW YORK INDUSTRY KEYWORD: MEDICINE PHARMACEUTICALS
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