Tech Master's High Risk/High Return Update
BIG NEWS FROM CGLB
Wednesday February 18, 11:21 am Eastern Time
Company Press Release
Cheung Laboratories, Inc. Reports Preliminary Evaluation Results of BPH Treatment
-- Montefiore Medical Center Reports Encouraging Results --
COLUMBIA, Md.--(BUSINESS WIRE)--Feb. 18, 1998-- Cheung Laboratories, Inc. (OTC BB:CGLB - news) announced today that it has received the results of preclinical evaluations of its patented Benign Prostatic Hyperplasia (BPH) treatment system. The experiments were conducted at the Montefiore Medical Center in New York City.
Montefiore Medical Center's evaluation was conducted on animal subjects. Data from the preliminary testing indicates Cheung Laboratories' thermotherapy-based BPH treatment can create a natural sustained opening within a closed prostatic urethra. The Company's patented system is designed to shrink a swollen prostate by utilizing a combination of mild focused microwave heat and compression delivered through a unique balloon catheter.
Dr. Arnold Melman, chairman of the Montefiore Medical Center's department of urology, commented, ''I am very enthusiastic about the results of early experiments conducted in our laboratory with Cheung Laboratories' unique BPH treatment device. As predicted, the data illustrates that the device is capable of creating a biological stent, or sustained opening, within the prostatic urethra. Safe temperatures were maintained in the test subjects while the prostate gland was heated to therapeutic temperatures. These early experiments prove that this novel concept of BPH treatment using thermotherapy with balloon compression is correct and feasible for human use.''
Cheung Laboratories Chairman and Chief Scientific Officer Dr. Augustine Cheung, commented, ''The results of Dr. Melman's tests may make the non-surgical treatment of patients suffering from BPH a reality. We have designed this non-surgical urethoplasty treatment to provide painless long term relief, free of side effects, for the millions affected by this disease. The domestic and global market of such treatment systems is currently worth billions of dollars.''
The Company plans to file an Investigational Device Exemption (IDE) with the U.S. Food and Drug Administration (FDA) immediately. Receipt of the IDE will allow Cheung Laboratories to begin clinical trials on patients using its patented BPH treatment in order to obtain the necessary safety and efficacy data for FDA approval.
BPH causes an enlargement of the prostate gland and results in pain, weak urine flow, and frequent urination. This disorder affects an estimated 50% of men over the age of 55, or 7.2 million men in the United States. BPH treatment is currently a $3 billion market nationally, $9 billion worldwide.
Cheung Laboratories, Inc. is a research and development company dedicated to commercializing medical treatment systems for cancer and benign prostate hyperplasia (BPH) utilizing deep focused heat delivered by patented microwave technology. Cheung is presently working with Massachusetts General Hospital (MGH), Memorial Sloan-Kettering Hospital, Duke University, Oxford's Hammersmith Hospital, and others to develop its focused heat treatments.
Forward-looking statements in this release are made pursuant to the ''safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, possible changes in cost of materials, expense items, capital expenditures, capital structure, and other financial items; introduction of new products and possible acquisitions of assets or businesses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
