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Biotech / Medical : Genta, Inc. (GNTA) -- Ignore unavailable to you. Want to Upgrade?

To: bob zagorin who wrote (1216)	9/8/1999 8:56:00 AM
From: bob zagorin	Read Replies (1) \| Respond to of 1870

Genta Acquires Androgenics Technologies, Inc. Androgenics Was Founded on a Proprietary Technology Developed at the University of Maryland, Baltimore LEXINGTON, Mass., Sept. 8 /PRNewswire/ -- Genta Incorporated (Nasdaq: GNTA) announced today that it has acquired Androgenics Technologies, Inc., which is now a wholly owned subsidiary of Genta Incorporated. Androgenics' technology was developed by Dr. Angela Brodie, Professor of Pharmacology, and her colleagues at the University of Maryland, Baltimore. This new technology involves a proprietary series of novel compounds that act by a combination of actions that are known to inhibit the growth of prostate cancer cells in both animals and man. One of the activities of these compounds is that they block both native and mutant androgen receptors. These receptors are believed to be important in the growth of prostate cancer. The mutant receptors may also be related to the development of resistance to the currently available hormone receptor blocking drugs used in prostate cancer treatment. "Our laboratory at the University of Maryland, Baltimore has been working extensively on this technology for several years and has made and tested over 100 compounds in the series," said Dr. Brodie. "We believe we have now optimized the structures to provide compounds with very attractive mechanisms of action. We are very excited now to see this work reach the development stage and at the prospect of producing a valuable therapeutic entity." "We are very pleased that Androgenics is now part of Genta," said Dr. Brodie. "This move is very timely as we have developed several new compounds with multiple actions that inhibit the growth of prostate tumors. These compounds have considerable potential for treating prostate cancer patients, and we are now preparing with Androgenics to select a lead compound for development in the very near term." Dr. Kenneth G. Kasses, Chairman, President and CEO of Genta, stated, "Our acquisition of Androgenics meets an important objective for Genta, in that it provides an addition to our pipeline and implements our strategy of becoming a cancer therapy based company. We also believe that these compounds will offer an attractive opportunity for licensing. Dr. Brodie and her colleagues have done a great deal of work to understand the mechanisms of action of these compounds and their relationship to the currently available hormone treatments for prostate cancer. We hope that the novel approach of blocking mutant androgen receptors with these new Androgenics compounds may overcome some of the current limitations of hormonal therapy. "We are also very excited to be working with Dr. Brodie and her team in the initial phases of candidate selection and development. Dr. Brodie has proven capabilities in drug discovery and her expertise will be a valuable asset to Androgenics and to Genta." Genta acquired Androgenics Technologies for warrants for Genta's common stock, 90% of which will not become exercisable until the successful conclusion of certain development milestones, including the initial clinical patient trial through the submission of an application for marketing authorization and the reimbursement of Androgenics' start-up costs. Genta Incorporated (Nasdaq: GNTA) is a biopharmaceutical company whose strategy consists of building a product and technology portfolio concentrating on cancer therapy including its Anticode(TM) (antisense) products intended to treat cancer at its genetic source. For more detailed information about Genta, please visit our website at www.Genta.com . To receive Genta Incorporated's latest news release and other corporate documents via fax, at no cost, dial 1-800-PRO-INFO; use the Company's symbol GNTA. Or visit The Financial Relations Board's web site at www.frbinc.com . The statements contained in this press release that are not historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended including statements regarding the expectations, beliefs, intentions or strategies regarding the future. The Company intends that all forward-looking statements be subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company's views as of the date they are made with respect to future events, but are subject to many risks and uncertainties, which could cause the actual results of the Company to differ materially from any future results expressed or implied by such forward-looking statements. Examples of such risks and uncertainties include, but are not limited to: the obtaining of sufficient financing to maintain the Company's planned operations; the timely development, receipt of necessary regulatory approvals and acceptance of new products including those acquired in the above transaction; the successful application of the Company's technology to produce new products; the obtaining of proprietary protection for any such technology and products; the impact of competitive products and pricing and reimbursement policies; and the changing of market conditions. The Company does not undertake to update any forward-looking statements. SOURCE Genta Incorporated CO: Genta Incorporated; Androgenics Technologies, Inc. ST: Massachusetts IN: BIO MTC SU: TNM 09/08/1999 08:50 EDT prnewswire.com