Friday April 9, 9:00 am Eastern Time
Company Press Release
Celsion Signs Option Agreement to Obtain Rights to Gene-based Cancer Treatment Technology Developed At Memorial Sloan-Kettering
Enables the Development of a Heat-activated Biological Modifier; Potential to Significantly Enhance Efficacy and Reduce Toxicity of Cancer Treatments
COLUMBIA, Md.--(BW HealthWire)--April 9, 1999-- Celsion Corp. (OTC BB:CELN - news) today announced that it signed an option agreement with Memorial Sloan-Kettering Cancer Center for the exclusive worldwide license to a proprietary technology (patent pending) relating to a heat-activated, biological modifier for cancer treatment. The modifier is designed to improve the effectiveness and lower the treatment dose for chemotherapy, heat, and radiation treatment of localized cancers.
The genetic modifier suppresses the action of the protein responsible for DNA damage repair. Once targeted with Celsion's focused heat technology, the biological modifier is expressed (activated) in the cancer cells within the heated area. This renders the tumor and viable cancer cells temporarily incapable of repairing DNA damage incurred during chemotherapy, heat, and radiation treatment.
Preclinical studies in vitro suggest that the genetic modifier has the potential to significantly reduce the radiation and chemotherapy dose, thus decreasing the toxicity and associated side effects. Memorial Sloan-Kettering is planning to conduct initial preclinical tests to evaluate the safety and efficacy of the modifier in an animal model.
''The potential of this technology is enormous because it could significantly improve treatment results for localized cancers,'' stated Dr. Augustine Cheung, chairman and chief scientific officer of Celsion. ''By using heat as the localizing agent, we will trigger the heat-activated compound in order to impair the cancerous cells' ability to fight chemotherapy, heat, and radiation treatments.''
PATENTED TECHNOLOGY
Celsion's focused heat technology utilizes proprietary technologies licensed exclusively from several engineering and medical institutions, including the Massachusetts Institute of Technology (MIT). The Company's adaptive phased array (APA) system, licensed exclusively from MIT, is designed to focus microwave heat on tumors without damaging healthy skin or surrounding tissue.
In November 1998, MIT received an additional patent for the APA system licensed to Celsion. The patent covers the use of APA focused heat technology to enable heat-activated drug and gene delivery systems for the treatment of localized diseases. The studies planned at Memorial Sloan-Kettering represent the first of several compounds that Celsion is developing for this approach to cancer treatment.
ABOUT CELSION
Celsion Corporation is a research and development company dedicated to commercializing medical treatment systems for cancer and benign prostatic hyperplasia using focused heat delivered by patented microwave technology. Clinicals and further development of the Company's treatment systems are being conducted by leading institutions such as the Massachusetts Institute of Technology, Massachusetts General Hospital, Montefiore Medical Center, and Duke University.
Forward-looking statements in this release are made pursuant to the ''safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, possible changes in cost of materials, expense items, capital expenditures, capital structure, and other financial items; introduction of new products and possible acquisitions of assets or businesses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
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Contact:
Celsion Corporation OTC Financial Network
John Mon Geoffrey Eiten
(410) 290-5390 (888) 399-7541 ext. 13
www.celsion.com www.otcfn.com/celn
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