Richard,
News out this morning:
03/17 06:46 Gliatech Announces Product Development Program <GLIA.O>
Gliatech Announces Product Development Program
-- Focuses on Use of Monoclonal Antibodies to Treat Inflammatory Disorders --
CLEVELAND, March 17 /PRNewswire/ -- Gliatech Inc. (Nasdaq: GLIA) today
announced at the SG Cowen Securities Corporation 19th Annual Health Care
Conference that the Company has initiated a new research and development
program aimed at the use of monoclonal antibodies (mAbs) to the complement
system to treat acute and chronic inflammatory disorder. The announcement
coincides with the publication of a patent application by the Patent
Cooperation Treaty (PCT) office regarding the use of monoclonal antibodies
directed to the complement component properdin.
Properdin belongs to the group of proteins that comprise the complement
system, which plays a role in immune defense, and has "alternative" and
"classical" pathways. The alternative complement pathway, of which properdin
is a member, is triggered by foreign surfaces and damaged tissue. The
classical complement pathway is typically initiated by the interaction of an
antibody and an antigen.
Inappropriate activation of the alternative complement pathway has been
shown to contribute to many adverse clinical events, including those arising
from cardiopulmonary bypass surgery, myocardial infarction, stroke and acute
respiratory distress syndrome. Of particular clinical importance are the
presence of complement proteins C3a and C5a that initiate inflammation, and
the membrane-attack complex (MAC) that causes direct damage to tissue.
Gliatech scientists have discovered that proprietary mAbs directed to
properdin act as potent inhibitors of the alternative complement pathway,
thereby blocking the inappropriate formation of C3a, C5a and MAC. In
particular, the Company's anti-properdin mAbs effectively block complement
activation in models of cardiopulmonary bypass surgery and are also being
tested for their utility in other clinical indications. The Company is
presently developing a humanized anti-properdin mAb. This humanized mAb will
undergo pre-clinical testing to evaluate its use in possible clinical
indications where complement activation products may contribute to disease
pathology.
"With the recent commercialization of our ADCON(R) technology, we have
focused on pipeline positioning and felt it was time to advance this promising
program with significant clinical and commercial potential," said Thomas O.
Oesterling, President and Chief Executive Officer of Gliatech Inc. "We have
many exciting exploratory projects and will continually assess their market
and clinical potential to ensure a rich commercial pipeline."
Certain statements in this press release constitute "forward-looking
statements" that are subject to risks and uncertainties which may cause the
actual results of the Company to be different from expectations expressed or
implied by such forward looking statements. Such factors include, but are not
limited to, uncertainty of market acceptance of the Company's products, the
uncertainty of the continued development of monoclonal antibodies, the timing
and content of decisions made by the FDA and other risk factors detailed in
the Company's SEC filings.
Gliatech was formed in 1988 to discover, develop and commercialize
therapeutic products based on understanding the properties of glial cells, a
major component of the nervous system. The Company applies its core glial
research to developing innovative products for major unmet human health care
needs.
SOURCE Gliatech Inc.
-0- 03/17/99
/CONTACT: Thomas O. Oesterling, Ph.D., President and Chief Executive
Officer, of Gliatech, 216-831-3200; or Investors, Michael Arneth, of Financial
Relations Board, 312-266-7800/
PHIL |
