PGNS expanding into Canada:
Wednesday January 6, 1:43 pm Eastern Time
Company Press Release
PathoGenesis Canada Limited:
American Biotech Company Announces Canadian Expansion
MONTREAL,QUEBEC--PathoGenesis Corp. (Nasdaq: PGNS - news), a Seattle- based biotechnology company, is expanding its operation to Canada.
The creation of PathoGenesis Canada Limited represents an initial investment of about $1 million and will lead to the creation of four to seven new jobs. PathoGenesis Canada will be headquartered in
Montreal.
Initially, PathoGenesis Canada will focus on bringing TOBI™ (tobramycin solution for inhalation) to
market in Canada for cystic fibrosis patients. A new drug submission for TOBI was filed in Canada
last March, and the Health Protection Branch of Canada has granted that file a priority review.
TOBI is currently approved for sale only in the U.S.
''The creation of PathoGenesis Canada further strengthens our ties to the Canadian community,
where we already have active collaborations with a number of physicians in developing new drugs'',
said Wilbur H. Gantz, chairman and chief executive officer of parent company PathoGenesis Corp.
''Canada has been at the forefront of cystic fibrosis and aerosolized antibiotic research. We are very
proud to start a new operation in this country and hope to make our presence larger in the coming years.''
Some 3,000 Canadians with cystic fibrosis are treated primarily at 36 cystic fibrosis specialist centers. The disease is characterized by the production of unusually thick, sticky mucus that typically blocks the airways of the lungs. Consistent production of mucus prevents clearance of bacteria, allowing them to colonize and multiply. As a result, chronic infection and inflammation occur, causing people with cystic fibrosis to experience persistent coughing, sputum expectoration and wheezing.
The continuous inflammation and infection lead to lung damage and destruction, and ultimately, death. CF can also affect other areas of the body, including the pancreas and sweat glands.
Information about cystic fibrosis is available from the Canadian Cystic Fibrosis Foundation on the Internet at ccff.ca.
Seattle-based PathoGenesis Corp. is a pharmaceutical company that develops drugs to treat chronic
infectious diseases - lung infections, in particular - where there is a significant need for improved
therapy. The company markets TOBI, an inhaled antibiotic, in the U.S. for management of cystic
fibrosis patients with Pseudomonas aeruginosa. In addition, PathoGenesis is developing other drug
candidates to treat serious chronic lung infections, including that common in cystic fibrosis,
bronchiectasis and tuberculosis patients. PathoGenesis' stock is traded on the Nasdaq National
Market System under the symbol PGNS. The company's Web site is located at
www.pathogenesis.com.
Note: This news release contains ''forward-looking statements'' within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to known and unknown risks, uncertainties or other factors that may cause the company's actual results to be materially different from historical results or any results expressed or implied by such forward-looking statements. Factors that might cause such a difference include, but are not limited to, uncertainties related to the fact that PathoGenesis began commercial operations only recently, its dependence on TOBI, third party reimbursement and product pricing, government regulation, drug development and clinical trials, competition and alternative therapies, and other factors described in PathoGenesis' filings with the U.S. Securities and Exchange Commission. |
