Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : CYTO -- Ignore unavailable to you. Want to Upgrade?

To: Jim Oravetz who wrote (7847)	4/10/2000 1:49:00 PM
From: Sector Investor	Respond to of 8116

This is the full text of this mornings PR. I'm just posting it here for bookmarking purposes for quick future reference. ******************* Cytogen Allowed Proteomics Patent in Japan - Expands Proprietary Position of AxCell Biosciences Core Technology - PRINCETON, N.J., April 10 /PRNewswire/ -- Cytogen Corporation (Nasdaq: CYTO) today announced that it has received a notice of allowance from the Japanese Patent Office for a patent entitled, "Totally Synthetic Affinity Reagents" or TSAR. TSAR technology is a method of identifying ligands or portions of proteins, that interact with receptors, protein domains, antibodies or nucleic acids. Identifying these ligands is an important first step in the process used by AxCell Biosciences Corporation, a wholly owned subsidiary of Cytogen, to generate information about protein interactions for its proprietary Inter-functional Proteomic Database(TM) of protein signaling pathways. Aberrant protein interactions in cellular pathways are thought to be the cause of many diseases. The Company believes that this proprietary database may be an important tool for the discovery of new drug targets. "Allowance of the TSAR patent in Japan demonstrates our commitment to protecting the rights of our platform technology in major foreign markets," explained John D. Rodwell, Ph.D., acting President and Chief Technical Officer of AxCell Biosciences. "This Japanese patent adds important validation to AxCell's proteomic-based drug discovery approach and is already covered by an issued U.S. Patent licensed to Cytogen." AxCell occupied new, dedicated laboratory space at the beginning of the year. Since then, state-of-the-art automation has been successfully installed and large-scale peptide ligand synthesis and cloning has begun. AxCell expects to have its automated systems running at full capacity during the summer of 2000, measuring approximately 200,000 protein interactions per month. AxCell Biosciences Corporation is conducting research and development in functional proteomics, the identification of protein interactions and signaling pathways within cells and their relationship to disease processes. Genomics is the large-scale study of genes, which contain the necessary information to create proteins, the molecules that carry out the cell's biological functions. Proteomics research efforts can be categorized as structural and functional. Structural proteomics, or protein expression, measures the number and types of proteins present in normal and diseased cells. This approach is useful in defining the structure of proteins in a cell. Some of these proteins may be targets for drug discovery. However, the role of the protein in the disease is still not defined. AxCell's proteomics business is focused upon functional proteomics, the study of proteins' biological activities. An important function of proteins is the transmission of signals using intricate pathways populated by proteins which interact with one another. Elucidating the role proteins play in these signaling pathways allows a better understanding of their function in cellular behavior and permits identification of potential drug targets. Protein-protein interactions form the core of the Company's Inter-functional Proteomic Database(TM). AxCell's plans to offer the IFP Database to the pharmaceutical industry as a tool to accelerate the drug discovery process. For additional information on AxCell Biosciences, visit axcellbio.com. Cytogen Corporation is an established biopharmaceutical company in Princeton, NJ, with two principal lines of business, proteomics and oncology. The Company is extending its expertise in antibodies and molecular recognition to the development of new products and a proteomics-driven drug discovery platform. The Company has established a pipeline of product candidates based on its proprietary antibody and prostate specific membrane antigen, or PSMA, technologies. The Company's cancer management franchise currently comprises three marketed FDA-approved products: ProstaScint(R), used to image the extent and spread of prostate cancer; OncoScint CR/OV(R), a diagnostic imaging agent for colorectal and ovarian cancer; and Quadramet(R), for the relief of cancer- related bone pain. The Company's wholly owned subsidiary, AxCell Biosciences Corporation is developing a proprietary protein pathway database as a drug discovery and development tool for the pharmaceutical and biotechnology industries. For additional information on Cytogen, visit cytogen.com. This news release contains forward-looking statements that involve risks and uncertainties. The Company's actual results may differ materially from those anticipated in these forward-looking statements. Factors that may cause such differences include, but are not limited to, those discussed in Cytogen's Form 10-K Annual Reports for the year ended December 31, 1999, including the uncertainties associated with the ability to sustain its intellectual property positions on its proteomics technology, and the successful development and market acceptance of the technology. In particular, we cannot assure you that the protein interaction program will result in the commercialization of a successful product. We undertake no duty to update these statements. SOURCE: Cytogen Corporation CONTACT: Richard W. Krawiec, Ph.D., Vice President, Investor Relations and Corporate Communications of Cytogen Corporation, 609-750-828