RENO, Nev.--(BW HealthWire)--Jan. 12, 1998--Harvard Scientific Corp. (OTC Bul Bd:HVSF), a Nevada corporation, announced Monday that its International Patent Application, No. PCT/US96/18820 (International Publication No. W097/2234), for its new method for treating male impotence, has received a highly favorable Preliminary Examination Report, from the U.S. Patent and Trademark Office Examiner acting as the International Preliminary Examining Authority.
The Examiner's opinion, that all of the company's claims are new and not obvious in view of previous work in this area, is consistent with the examination of the corresponding United States patent application, which has been allowed.
Company President and CEO, Thomas Waite stated: "This is very good news for the company and its shareholders. Management is currently seeking patent protection in those PCT Countries that will provide the greatest market potential for its male erectile dysfunction and sexual enhancement product. Industry analysts cite the potential market in these countries as almost double the U.S. market. Additionally it is widely believed, that as more effective and user-friendly products become available, this market will continue to grow rapidly."
Harvard Scientific Corp. is a biopharmaceutical company that develops products relating to liposomal delivery of Prostaglandin E-1 for the treatment of male erectile dysfunction, impotency and sexual enhancement. The company's patented process allows the Prostaglandin E-1 to be administered as a liquid via a painless delivery system. The company also has developed a topically applied skin treatment for psoriasis and is working with the FDA to establish Phase I clinical trials protocol for that product.
Prostaglandin E-1 is a naturally occurring vasodilator originally approved by the U.S. FDA for intravenous infusion in neonates. In 1995, PGE-1 was approved by the FDA as a treatment for male erectile dysfunction for Upjohn's Caverject(r), which is administered by needle injection. In November 1996, Vivus Inc.'s MUSE(r) delivery system was approved by the FDA. The company believes that its product represents a tremendous treatment advantage over other delivery systems currently being utilized in the industry.
From time to time the company may issue forward looking statements which involve risks and uncertainties. This statement may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results could differ and any forward looking statements should be considered accordingly.
From a release on 1/9/98:
Company President and CEO, Thomas E. Waite stated: As President and CEO, I am very pleased with our new management team's progress over the past 50-plus days in office. All issues, specifically the science, legal and operational issues of the corporation, which have been identified as potential successful pathways towards developing and marketing the company's products, have been prioritized and addressed by the appropriate individuals or departments within our corporate structure. Our staff of scientific consultants including Dr. Jackie See, Dr. Darryl See, Dr. Larry Hofmann and Dr. Irwin Goldstein, are to be commended for their proficiency and dedication to our projects.
HVSF is trying to circumvent the VVUS patent. It delivers Alprotadil via the urethra in a liquid form. They have created this "Liposomal fantasy " to create a theory of action that somehow, putting alprostadil in a "liposome" and delivering it intraurethrally does not infringe on VVUS patent. Essentially, the reality is a cream injector like the MUSE system with a cream instead of a pellet. The market valued this idea at up to $9.50 a share in the past, last I checked it was worth $0.30 a share.
The great humanitarian, Dr. Goldstein is still on the payroll.
I didn't even know that Harvard had a branch in Reno.
Nice try, Mr. Waite
Zebra |
