Hi fellow SI/IMT investors,
I signed up for emailed press releases at the Imutech site. Here's the latest one that I received (June 3rd).
-- FJ
Press Release from:
To: Imutec <imutec@inforamp.net>
Subject: Imutec Pharma Press Release
For further information, please contact:
Paul W. Truscott, Jr.
Associate, Corporate Communications
Tel: (416) 724-1509, ext. 251
Fax: (416) 724-1167
Email: imutec@inforamp.net
IMUTEC PHARMA ANNOUNCES DRUG MANUFACTURING AGREEMENT
- - Deal with Torcan strategic move in drug development program - -
TSE / ME: IMT
NASDAQ: IMUTF
TORONTO, ONTARIO June 3, 1998 - Imutec Pharma Inc. announced today that,
through its subsidiary NuChem Pharmaceuticals Inc., it has entered into
an agreement with Torcan Chemical Ltd. of Aurora, Ontario for the
contract manufacturing of several of the Company,s novel cancer
therapeutics known as NuChem (NC) Analogues. The manufacturing process
will provide sufficent quantities of each compound required for
preclinical testing. Imutec Pharma, in co-ordination with testing to be
performed by the US National Cancer Institute, will evaluate the
anti-proliferative effect of these compounds in a number of cancer cell
lines and animal models, as well as assess their anti-angiogenic
activity.
"Torcan has earned industry-wide recognition for its process innovation
and supply of quality products for both clinical and commercial
applications. They have an excellent reputation and we are very pleased
to be working with them,% said Mr. Philippe G. Lacaille, President and
Chief Executive Officer of Imutec Pharma. "This agreement is entirely
consistent with our corporate strategy of focusing on the clinical
development of cancer therapeutics. By relying on Torcan,s proven
ability to cost-effectively manufacture high quality chemical compounds,
we can better leverage our own expertise to more effectively advance the
development of the NC Analogues for the therapy of human cancers.%
,There have recently been a number of announcements regarding
advancements in cancer research,% continued Mr. Lacaille. ,In certain
cases, however, severe problems in the manufacturing of these compounds
prevent timely, large-scale production of the high quality material
required for clinical trials. The parent molecule of our NC analogues is
already well-known and extremely well-characterized. And a great deal
of related research has been performed by Dr. Jose Halperin, at Harvard
Medical School. Therefore, we expect the manufacturing process of our
compounds to be relatively quick and straight-forward. Obtaining large
amounts of high quality material for future clinical trials should not
be an issue.%
Torcan Chemical Ltd., founded in 1980, is a research, development and
manufacturing organization with its foundation in synthetic organic
chemistry. The company has earned industry wide recognition for its
process innovation and supply of quality products for both clinical and
commercial applications. Its experienced professionals work under strict
cGMP guidelines and sound environmental practices with state-of-the-art
equipment offering a total capacity of 20,000 litres, including a
scale-up laboratory producing quantities of 100 g to 5 kg, which fills
the requirement between initial laboratory investigations and
introduction to full scale manufacturing.
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 |
