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Biotech / Medical : Sirna Therapeutics Inc -- Ignore unavailable to you. Want to Upgrade?

To: bob zagorin who wrote (299)	1/13/2000 2:30:00 PM
From: bob zagorin	Read Replies (1) \| Respond to of 562

Competitive Technologies, Inc.'s Licensee Files Investigational New Drug Application for Hepatitis Treatment FAIRFIELD, Conn.--(BUSINESS WIRE)--Jan. 13, 2000--Competitive Technologies, Inc. (AMEX: CTT) today reported that its licensee Ribozyme Pharmaceuticals, Inc. (RPI) (NASDAQ: RZYM) in collaboration with Eli Lilly Company (NYSE: LLY) have submitted an Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA) to begin clinical testing of an anti-Hepatitis C ribozyme, LY466700 (previously referred to as "Heptozyme"). The release was made in conjunction with a presentation at the January 11, 2000 Chase H&Q Health Care Conference. RPI's January 11, 2000 press release stated: "If the FDA approves the IND, the initial clinical study will consist of a safety and pharmacokinetic study in normal volunteers followed by a second study in HCV-infected, treatment-nave patients. The second study will be a multi-dose clinical study designed to examine safety, pharmacokinetics and the extent of HCV RNA reduction in the blood. The release continued, "LY466700 is a chemically synthesized ribozyme that is designed to selectively cut Hepatitis C virus (HCV) RNA and inhibit viral replication. It is expected to be effective against all known HCV genotypes since it targets a conserved region of HCV RNA and is also expected to be effective even after infection or replication has been established." "HCV is the most common chronic bloodborne infection in the U.S. and is considered an epidemic by the Center for Disease Control, with four-fold higher prevalence than HIV. Over 4 million people are infected in the U.S. and 125 million people are reported to be infected worldwide. Chronic infection can lead to liver inflammation, cirrhosis, cancer and death. Current treatment options for patients are limited, clearing virus in only 20-40% of patients, and can be associated with some serious side effects," the release stated. Ralph, E. Christofferson, Ph.D., CEO and President of RPI also added in the release, "Since HCV remains such a serious disease with limited treatment options, we are very pleased that our Lilly collaboration has resulted in rapid IND filing following initiation of the collaboration in March, 1999." Competitive Technologies has licensed the Nobel Prize-winning ribozyme technology to Ribozyme Pharmaceuticals, Inc. Under the license, CTT will receive payment of a royalty on sales of ribozyme products and will receive a share of certain income received by RPI from sublicensees such as product sales royalties, option fees, pre-paid royalties or other front-end licensing fees. About Competitive Technologies, Inc. Competitive Technologies is a global leader in identifying, developing and commercializing innovative life sciences, physical sciences and digital technologies. Competitive Technologies' specialized expertise and experience make it a valuable partner for companies and universities of all sizes. CTT has been responsible for closing hundreds of licensing agreements. CTT clients include: SONY, Lucent Technologies, Matsushita Electric Industrial and Ribozyme Pharmaceuticals, Inc. Competitive Technologies, Inc. is based in Fairfield, Connecticut and has affiliates in Osaka, Japan and London, England. Statements about the Company's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts are "forward-looking statements" within the meaning of applicable Federal Securities Laws and are not guarantees of future performance. These statements involve risks and uncertainties related to market acceptance of and competition for the Company's licensed technologies and other risks and uncertainties inherent in CTT's business, including those set forth in Item 1 of the Company's Form 10-K for the year ended July 31, 1999 and other factors that may be described in CTT's filings with the SEC, and are subject to change at any time. The Company's actual results could differ materially from these forward-looking statements. The Company undertakes no obligation to update publicly any forward-looking statement. CONTACT: Competitive Technologies, Inc. John Fitzpatrick, Esq. CTT@CompetitiveTech.net www.CompetitiveTech.net 203/255-6044 203/254-1102 (fax) or Strategic IR Johnnie D. Johnson 212/754-6565