Whitey, you still around here? Hope all is well. Tim
Monday March 22, 8:31 am Eastern Time
Company Press Release
SOURCE: Procyon BioPharma Inc.
Procyon BioPharma Inc. Receives Canadian Patent for Use of PSP(94) as an Anti-cancer Therapeutic
LONDON, ON, March 22 /CNW-PRN/ - Procyon BioPharma Inc. (ASE:PBP) announced today that it has received Canadian Patent No. 2,138,122 from the Canadian Patent Office. This Canadian patent entitled ''Pharmaceutical Preparations for Inhibiting Tumours Associated with Prostate Adenocarcinoma, Stomach Cancer and Breast Cancer'', covers the use of PSP(94) and related peptides as an anti-cancer therapeutic. Patents protecting the Company's PSP(94) anti-cancer therapeutics have previously issued in the United States, Japan and Australia and are pending in Europe.
''This further strengthens our intellectual property protection which is significant as we continue to advance this technology for the treatment of prostate cancer,'' said Dr. Chandra Panchal, President and Chief Executive Officer. ''We are encouraged by the receipt of this patent and by data recently published in The Prostate on PSP(94)'s ability to suppress prostate cancer growth in a mouse model of the disease. We plan to submit an Investigational New Drug (IND) application later this year targeting hormone refractory prostate cancer as our initial indication.''
Procyon BioPharma researchers have demonstrated that PSP(94), a naturally occurring human protein, binds to specific receptors on the surface of prostate cancer cells and reduces tumour growth by up to 50% in experimental animal models. Prostate cancer is the most common form of cancer in men and the second leading cause of death in men over the age of 55 in North America. The Company plans to advance a therapeutic candidate targeting hormone refractory prostate cancer into clinical trials by the end of 1999.
Procyon BioPharma is a biopharmaceutical company engaged in the discovery and development of innovative products for the treatment and diagnosis of cancer. The Company is advancing a broad pipeline of products based on its proprietary Antinuclear Auto-Antibody (ANA) and Prostate Secretory Protein (PSP(94)) technologies. Procyon BioPharma also has two products in late-stage development, COLOPATH(TM), a screening test for colorectal cancer, and FIBROSTAT(TM), a topical therapeutic cream designed for the management of excessive scars following surgery or serious burns. The Company is headquartered in London, Ontario with research facilities in London, Ontario and Boston, Massachusetts.
This news release may contain ''forward-looking statements'' based upon current expectations but involving known and unknown risks and uncertainties. Actual results or achievements of the Company may be materially different from those expressed or implied. The Company's current plans and objectives are based upon assumptions involving judgments with respect to factors including technology development, economic, competitive and market conditions and future business decisions. These factors are difficult or impossible to predict accurately, may change and many are beyond the control of the Company. Therefore, investors are cautioned that there can be no assurance that the forward-looking statements will prove to be accurate.
''The Alberta Stock Exchange has neither approved nor disapproved the
information contained herein.''
SOURCE: Procyon BioPharma Inc. |
