BIOTECH ALERT! ** CYPB ** (3-1/8) big news of rheumatoid arthritis product launch; alternative to IMNX's blockbuster enbrel as this is a different type of treatment. Huge market. Joint announcement with another leading European firm. Looks interesting at $3.00+ (down over 50% from highs)
(COMTEX)
B: PROSORBA Column European Product Launch Announced; Novel Rheumatoid
Arthritis Treatment Now Available in Western and Central Europe
LISBON, Portugal, Apr 7, 2000 (BW HealthWire) -- Cypress Bioscience Inc.
(Nasdaq:CYPB) and Fresenius HemoCare GmbH, Bad Homburg, Germany, jointly
announced the European launch of the PROSORBA(R) column treatment for rheumatoid
arthritis (RA).
Speaking at a special Symposium on the PROSORBA column at the International
Society for Rheumatic Therapies (ISRT), Cypress and Fresenius reported that
registration of the PROSORBA treatment system has been completed, thereby
permitting the sale of the product in Europe. In addition to the PROSORBA
column, the treatment system includes the Fresenius Cell Separator and Leukocyte
Filter, and the disposables necessary to use these products with the PROSORBA
column. Fresenius HemoCare is the sole European marketer and distributor of the
PROSORBA column.
Rainer Baule, chief operating officer of Fresenius HemoCare, said, "Fresenius
HemoCare Adsorber Technology GmbH, in partnership with Cypress Bioscience, is
preparing extensively for the European launch, and will introduce the PROSORBA
column system in multiple European countries over the next few months."
Initially, the product will be launched in France, Italy and Germany. "As in the
United States, we expect that availability of this exciting new therapy to be a
boon for European patients with difficult to treat RA," Baule added.
In a symposium at the ISRT, leading rheumatologists involved in clinical trials
with the PROSORBA column discussed Immunoadsorption, the process by which
harmful substances can be removed from the blood, and its applications in
rheumatology. R. Michael Gendreau, M.D., Ph.D., executive vice president,
research and development, chief scientific officer and chief medical officer for
Cypress Bioscience Inc., also provided a clinical update on data gathered on
patients since the product became commercially available one year ago in the
United States.
Overall, 75% of patients who had completed seven or more treatments of the total
12-week treatment course responded to treatment. There was no difference in
response rate noted between those patients who had a history of having failed
one of the new "TNF blocker" drugs such as Enbrel(R) (manufactured by Immunex
and distributed by Wyeth-Ayerst, a division of American Home Products) and those
with no previous experience with "TNF blockers."
About Cypress Bioscience Inc.
Cypress Bioscience Inc. markets the PROSORBA column for types of rheumatoid
arthritis and idiopathic thrombocytopenia purpura ("ITP"), which are types of
immune disorders, and is engaged in the development of novel therapeutic agents
for the treatment of blood platelet disorders. In March 1999, the company
entered into an agreement that granted Fresenius AG and Fresenius Hemotechnology
Inc. an exclusive license to manufacture and distribute the PROSORBA column in
the U.S., Europe and certain other territories.
In April 1999, Cypress and Fresenius launched sale of the PROSORBA column for
the treatment of moderate to severe rheumatoid arthritis. In March 2000, the
company entered into an agreement with Medexus, to market the PROSORBA column in
Canada. The PROSORBA column was previously cleared by the FDA in 1987 for use in
ITP, an immune bleeding disorder.
In addition, Cypress is developing Cyplex(TM) (Infusible Platelet Membranes),
which is positioned to become an alternative for traditional platelet infusions.
For more information about the PROSORBA column and Cypress, please visit the
company's Web site at www.cypressbio.com.
About Fresenius Hemocare
Fresenius HemoCare -- a company of the Fresenius Group -- is one of Europe's
leading companies in blood treatment and infusion technology.
Fresenius HemoCare products and services are used in blood donation and
separation of blood components, as well as for intravenous infusion of
pharmaceuticals with highly sophisticated infusion pumps. Its core competencies
emphasize innovative products in immune therapy and in therapies for
extracorporeal blood treatment.
Fresenius HemoCare has more than 2,000 employees worldwide who are actively
engaged in extending its global reach for its leading European market platform.
For additional information about Fresenius HemoCare, please visit their Web site
at www.fresenius-hemocare.com.
Except for historical information contained herein, this news release contains
forward-looking statements regarding Cypress Bioscience Inc. That involve risks
and uncertainties, including, but not limited to the company and Medexus' and
the company's and Fresenius' ability to market successfully the PROSORBA column
for use as a treatment for rheumatoid arthritis; whether the company will be
successful in collaborating with Medexus or Fresenius; whether the final survey
data related to the clinical use of the PROSORBA column as a treatment for
rheumatoid arthritis will confirm the preliminary data; and the company's
ability to develop and receive regulatory clearance for Cyplex(TM) on a timely
basis, if at all, as well as other risks detailed from time to time in the
company's sec reports, including its annual report on form 10-K for the year
ended Dec. 31, 1999 and its most recent quarterly report on form 10-Q.
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