The Great News keeps coming:
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CANADA NEWSWIRE
Date
03/29/99
Company
PROCYON BIOPHARMA INC.
Title
Procyon BioPharma Inc. announces issuance of
United States patent for treatment of scar tissue
" BC-Procyon-FIBRO-patent 03-29 0539
News release via Canada NewsWire, Toronto 416-863-9350 -ME-
Attention Business/Medical Editors:
^Procyon BioPharma Inc. announces issuance of
United States patent for treatment of scar tissue@
LONDON, ON, March 29 /CNW/ - Procyon BioPharma Inc. (ASE:PBP) announced
today that United States Patent No. 5,885,982 entitled ''Use of
Transglutaminase Inhibitor for the Treatment of Scar Tissue'' has issued. The
patent covers the Company's late stage product FIBROSTAT(TM), a topical
therapeutic designed to prevent excessive scarring and improve the quality of
wound healing following surgery or serious burns.
''There is a significant need for a product that can prevent excessive
scarring without the severe side effects caused by current therapies. This
patent further validates the ability of FIBROSTAT(TM) to address the drawbacks
of current therapies for scarring, as well as strengthens our intellectual
property position as we finalize our out-licensing efforts'' said Dr. Chandra
Panchal, President and Chief Executive Officer. ''The protection of our
proprietary position is a critical consideration to our prospective
partners.''
There are approximately 60 million surgeries and 2 million severe burns
in the United States each year. Approximately 30 percent of all incisional
wounds and 50 percent of serious burns cause moderate to severe scarring.
Excessive scarring has been linked to the elevated and persistent activity an
enzyme involved in the manufacture of collagen. Clinical studies have
demonstrated that FIBROSTAT(TM) inhibits the activity of this enzyme, thereby
permitting proper tissue remodeling and reducing scarring from the wound
healing process. Current treatments, including steroid therapy, laser ablation
and scar revision have significant side effects.
FIBROSTAT(TM) is available in Canada under the Emergency Drug Release
Program. The technology is also patented in Australia, and has patents pending
in Canada, Japan and Europe. Procyon BioPharma is seeking a strategic partner
to assist in the completion of clinical studies and commercialization of
FIBROSTAT(TM).
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
(PSP94) technologies. Procyon BioPharma is also completing the development of
COLOPATH(TM), a screening test for colorectal cancer. 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 or disapproved the
information contained herein.''
-0- 03/29/1999
/For further information: Dr. Chandra J. Panchal, President & CEO or
Douglas S. Alexander Senior Vice-President, Finance & CFO, Procyon BioPharma
Inc., (519) 432-8486; Public Relations: Gretchen L. P. Schweitzer, Feinstein
Kean Partners, (617) 577-8110; Investor Relations: Mark Brennan, Linear
Capital Corp., (416) 364-2266/
(PBP.)
CO: Procyon BioPharma Inc.
ST: Ontario
IN: MTC
SU: |
