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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: gypsees who wrote (102206)	5/3/2000 9:07:00 AM
From: marquis103	Read Replies (1) \| Respond to of 108040

CYPB. Medicare approval for their main product. Russ Wednesday May 3, 8:34 am Eastern Time Company Press Release Medicare Approves PROSORBA Column for National Coverage for Rheumatoid Arthritis SAN DIEGO--(BW HealthWire)--May 3, 2000--Cypress Bioscience Inc. (NASDAQ:CYPB - news) Wednesday announced that the Health Care Financing Administration (HCFA) has approved coverage for the PROSORBA© column for rheumatoid arthritis (RA). The policy was the result of a review conducted under the recently established National Coverage Process. It will provide uniform coverage across the Medicare carriers and intermediaries, and Medicare managed care plans, that administer the Medicare program at the local level. The PROSORBA column has been covered by Medicare for Idiopathic Thrombocytopenic Purpura (ITP) under a 1991 national coverage policy. The Food and Drug Administration (FDA) approved the Column in 1987 for the treatment of ITP, and in March 1999 for treatment of RA. ``Cypress is pleased that HCFA has recognized that the PROSORBA column treatment is an appropriate therapeutic option for severe rheumatoid arthritis patients who have failed DMARD therapy. The decision will improve access to treatment for Medicare patients with rheumatoid arthritis, representing nearly half of those who are affected with severe disease,'' said R. Michael Gendreau, M.D., Ph.D., executive vice president, chief medical officer, and chief scientific officer. ``We expect the outcome of the HCFA decision will facilitate coverage for similar patients covered by private insurance plans, also.'' About Cypress Bioscience Inc. Cypress Bioscience Inc. markets the PROSORBA column for treatment of RA and ITP, and is engaged in the development of other novel therapeutic agents for the treatment of immune 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 the sale of the PROSORBA column for the treatment of moderate to severe RA in the United States. European approval for the column was obtained in March 2000. 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, visit the company's Web site at www.cypressbio.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's and Fresenius' ability to market successfully the PROSORBA column for use as a treatment for RA; 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 RA will confirm the preliminary data; whether the sales of the PROSORBA column for the RA indication will continue to increase; 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.