Brian - Yes, it's that space/time thing that Einstein touched on. Being in the right space at the right time.
Nice upward motion at end of day as more shorts covered.
Today's news good. Should boost price tomorrow when it hits papers, IMHO.
NEW YORK, Jan. 21 /PRNewswire/ -- Ultrafem, Inc. (Nasdaq: UFEM) today
announced that the U.S. Patent and Trademark Office issued patent number
5,592,949 to Ultrafem's research and development partner on January 14, based
on submissions for the BufferGel(TM) technology for a vaginal device for
controlling pH by acidic buffering. BufferGel(TM) is currently undergoing
Phase I clinical trials to test its safety for use as a vaginal microbicidal
gel to prevent AIDS and other sexually transmitted diseases (STD's). The
Company expects additional patent protection to be issued to ReProtect,
Ultrafem's research and development partner, for the contraceptive and
anti-pathogen BufferGel(TM) technology, according to John Andersen, president
and chief executive officer.
"The issuance of this first patent provides valuable protection for our
BufferGel(TM) Technology as we move through clinical safety and efficacy
trials in the coming years," Andersen said. "If successful, this will be the
first non-detergent vaginal microbicide on the market for preventing pregnancy
and the spread of STD's. The future upside potential for Ultrafem from this
technology is substantial considering the estimated $8 billion worldwide
contraceptive market."
BufferGel(TM) was developed by a group of scientists associated with Johns
Hopkins University and ReProtect, LLC. The Phase I trial is being conducted
by HIVNET, a unit of the National Institutes of Health with 20 women in
Providence, RI. By virtue of Ultrafem's worldwide licensing rights to
BufferGel(TM), the Company will bring to market all products related to
women's reproductive health care developed under their research agreement with
ReProtect.
The chemical action of this acidic-buffer technology depends entirely on
maintaining the normal vaginal pH. Research by ReProtect has indicated that
sperm and most major pathogens which cause STD's, including HIV and the white
blood cells that can be infected with HIV, are acid sensitive and would be
killed by normal vaginal pH. But semen is an alkaline fluid that neutralizes
the vagina providing a "window of opportunity" that allows both conception and
the transfer of STD's. BufferGel(TM) prevents the neutralizing action of
semen by preserving healthy vaginal acidity through the introduction of
protons (H+). In contrast, the spermicides now used in vaginal methods for
contraception are detergents, such as nonoxynol-9, which in recent
epidemiological studies has been shown to increase the risk of urinary tract
infections in women.
The statements contained in this release which are not historical facts
are forward-looking statements that involve risks and uncertainties. Such
risks include, but are not limited to, risks inherent in obtaining and
protecting patents and proprietary technology and risks associated with
research and development for other applications of the SoftCup(R) Technology,
among other factors affecting the business which are described in the
Company's prospectus. Management wishes to caution the reader that these
forward-looking statements are only predictions; actual events or results may
differ materially as a result of risks facing the Company.
Ultrafem is a women's health care company. The Company's business
strategy is to develop, manufacture and market proprietary products based on
its patented SoftCup(R) Technology directed at high potential, underserved
segments of the women's health care market. The Company completed an initial
public offering in February 1996 and a secondary financing in November 1996 to
support the launch of its first commercial product, INSTEAD(TM).
SOURCE Ultrafem, Inc.
-0- 01/21/97
/CONTACT: Philip L. Thomas of The P.L. Thomas Group, 312-906-8060/ |
