Imutec up 50% and traded 500k shares this morning on NR
FOR: IMUTEC PHARMA INC.
TSE, ME SYMBOL: IMT
NASDAQ SYMBOL: IMUTF
MAY 11, 1998
New Imutec Pharma Compound Stops Cell Cycle Progression
--novel mechanism of action disclosed--
TORONTO, ONTARIO--Imutec Pharma Inc. today announced exciting new
information relating to the anti-proliferative activity of
clotrimazole. Dr. Jose A. Halperin, Associate Professor of
Medicine at Harvard Medical School, discovered the anti-cancer
activity of clotrimazole and the related analogues in-licensed by
Imutec Pharma, and presented the information at the International
Investigative Dermatology 1998 Conference being held in Cologne,
Germany May 7-10.
All cells must pass through a number of critical events before
they can multiply. Cancer, or abnormal cell growth, occurs when
one or several of these events goes awry. Many anti-cancer
therapies currently in development attempt to prevent certain
important events involved in this process. Dr. Halperin recently
discovered that clotrimazole stops cells from multiplying by a
unique mechanism of action. This compound depletes cells of
calcium, thereby inhibiting the production of factors required for
cell growth. The inhibition of these factors stops cell growth
early in the first growth phase (GI) of the cell cycle. These new
results show that this compound is a G1 cell cycle blocker and
induces apoptosis, or cell death.
"We are very pleased by these unique findings," added Mr. Philippe
G. Lacaille, President and Chief Executive Officer of Imutec
Pharma. "The blockage of cell growth at this particular point is
what makes Clotrimazole's activity so unique. The discovery of
this novel mechanism of action positions our Company at the
forefront of cancer research, in an exciting niche occupied by few
others."
Dr. Halperin and his colleagues previously reported the potent
anti-proliferative properties (stopping cancer cell growth,
thereby reducing tumor growth) of clotrimazole both in cell line
studies and animal models. Dr. Halperin has also shown the
anti-angiogenic effects (prevention of blood vessel formation) of
this compound in an animal model of angiogenesis. The related
analogues selected for preclinical development by Imutec Pharma
have been shown to be more potent in stopping cell growth.
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, Imutec Pharma 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
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