Nice to see some news releases on IMT, but only minor affect on the price.
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IMUTEC PHARMA INITIATES PRECLINICAL DEVELOPMENT OF ITS NEW ANTI-CANCER COMPOUNDS
-- SIGNS AGREEMENT WITH U.S. NCI --
TSE/ME: IMT
NASDAQ: IMUTF
TORONTO, March 25 /CNW/ - Imutec Pharma Inc. announced today that it has signed an agreement with the Developmental Therapeutics Branch, Division of Cancer Treatment of the U.S. National Cancer Institute. The agreement covers the screening of anti-cancer compounds in the NCI's panel of cancerous cell lines. Imutec Pharma plans to submit several new chemical entities (NCEs) for testing in the near future. The NCI has no commercial interest, but will
request a ''royalty-free license,'' meaning the institute will get the drug
free of charge for research purposes.
''We are very pleased and excited to announce this collaboration with the NCI,'' said Mr. Philippe Lacaille, President and Chief Executive Officer of Imutec Pharma. ''The development of promising new drugs often requires strong, effective partnerships. This screening agreement will enhance the preclinical development of our new compounds, in line with our corporate strategy of building a balanced portfolio of products at various stages of research and development.''
Imutec Pharma recently in-licensed several new chemical entities based on research done by Dr. Halperin at Harvard Medical School, which appear to be potent drug candidates with a favourable safety profile that inhibit the
growth of cancer cells. Preclinical testing of a number of these compounds has recently been initiated.
Bringing a new drug to market requires a number of basic steps. These
include evaluating the activity of drug candidates in vitro and in vivo. The data from these preclinical tests will be used as the basis for selecting which compounds will be given priority for entering clinical trials.
Imutec Pharma Inc. is a pharmaceutical company engaged in the development and commercialization of innovative products for the treatment of cancer and certain viral diseases. Through an active acquisition and in-licensing program, Imutec Pharma's goal is to build and clinically develop a portfolio of innovative drugs targeted at life-threatening diseases. Thereafter, Imutec Pharma intends to undertake late stage clinical development and marketing in cooperation with strategic pharmaceutical partners. Founded in 1986, ImutecPharma Inc. is a public company listed on the Toronto Stock Exchange and the Montreal Stock Exchange under the symbol IMT and on the NASDAQ exchange under the symbol IMUTF.
Except for historical information, this press release contains
forward-looking statements which reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties which may cause actual results to differ materially from those statements. Those risks and uncertainties include, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process, and other risks detailed from time-to-time in the Company's ongoing quarterly filings, annual reports and 20-F filings.
Imutec Pharma's press releases are available through the Company's
Internet site: imutec.com
-0- 03/25/98
For further information: Paul W. Truscott, Jr., Associate, Corporate Communications, Tel: (416) 724-1100, ext. 251, Fax: (416) 724-1167, Email: imutec@inforamp.net |
