Hello,
Just received the quarterly update from IGT and thought I would post it.
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QUARTERLY UPDATE
With the recent media spotlight on promising drug developments in the battle against cancer, IGT Pharma's lead products and technologies are quickly tracking towards development and commercialization in an environment of increasing awareness, enthusiasm and hope.
Business and technology development activities in the first quarter have culminated to two significant developments, which took place in April. The first was the formation of the clinical trial team
comprised of the senior medical oncology team from the British Columbia Cancer Agency (BCCA) who will be conducting the human clinical study of the anti-cancer drug, Anhydrovinblastine (AVLB).
A meeting of all the project teams was held to report the progress of the pre-clinical and regulatory activities needed to submit an Investigational New Drug (IND) application for regulatory approval to
begin a Phase I clinical trial in humans. Reported in the meeting, data from the studies collected to date continually reinforce IGT's conviction to develop Anhydrovinblastine into a unique therapy
against cancer. The final reports from the preclinical studies will be assembled in the IND and submitted to the regulatory authorities in July. Upon approval, Anhydrovinblastine will begin its Phase
I clinical development. This is a major event for IGT as it signals an event long established as a critical milestone in the growth of a biotechnology company.
IGT had also announced the acquisition of the remaining 65% of Precision Biochemicals Inc., an emerging pharmaceutical development company focused in the discovery of therapeutic treatments
for human neurological disorders.
As a result of the acquisition, IGT Pharma has grown in research talent and has developed greater depth in its technology base. The Company's has evolved into three operational divisions: Drug
Development Divisions in Oncology & Neurology, and Custom Chemicals, which provide ongoing sales revenue.
IGT Pharma's management team comprises of: Bruce Schmidt, President & CEO, Dr. Kenneth Curry, Vice President, Research & Development, Dr. Martin Peet, Vice President, Business Development and Daniel Bong, Manager, Technology Development. Notably, Dr. Kenneth Curry brings expertise and experience in the field of pharmaceutical development. Dr. Curry is a recognized pioneer in the field of neurology, holds a number of international patents and been published 35 times in various scientific journals. Dr. Curry's understanding of the relationship of molecules and their biologically activity will add strength in IGT's research of therapeutics in the fields of cancer and neurology, such as Alzheimer's, stroke, pain and anxiety.
Dr. Martin Peet, MBA, brings to the management team nine years of sales and marketing experience from the biomedical industry. He has been largely responsible for the commercial success of Precision Biochemical's custom chemical product line.
For a company information package please contact the investor relations department at 1-800- 743-7444. If you wish to remain on our communication's list and receive up to date information, please contact us at 1-800-743-7444 or e-mail at csc_igt@istar.ca .
Warmest regards,
IGT Pharma Inc.
Jeff Murdock
Corporate Communications |
