Geesh, one would think news like this would move the stock. Go figure.
CYTOGEN CORP - Cancer Treatment Way Cleared for Cytogen to Begin U.S. Sales
New York, New York, Sep. 21, 2000 (Market News Publishing via COMTEX) -- DRAXIS Health Inc. and Cytogen Corporation announced that DRAXIS' wholly owned radiopharmaceutical subsidiary, DRAXIMAGE, has received U.S. Nuclear Regulatory Commission (NRC) approval with respect to its BrachySeed(TM) implant for prostate cancer therapy.
Dr. Martin Barkin, President and CEO of DRAXIS Health stated, "We are very pleased to report that BrachySeed(TM) is now cleared for sale in the U.S. FDA approvals were received late August, and the NRC approvals represented the final step in the process. Working with Cytogen, our marketing partner, we expect that BrachySeed(TM) will be available in the U.S. late this year."
BrachySeed(TM) is a second generation brachytherapy implant which demonstrates a number of important innovations over currently available technology, including double encapsulation for additional patient safety and near
perfect dosimetry. The most important advantage was reported earlier by researchers at McMaster University, Ontario, Canada, who confirmed that the dose and radiation distribution of BrachySeed(TM) exhibits excellent symmetry.
H. Joseph Reiser, Ph.D., President and CEO of Cytogen stated, "ProstaScint(R), our radiolabeled monoclonal antibody, is the leading imaging agent for determining if prostate cancer has spread beyond the prostate. ProstaScint(R)-guided brachytherapy, incorporating the second generation BrachySeed(TM) implants, clearly places Cytogen on the cutting edge of prostate cancer management."
In a paper recently published in the International Journal of Radiation Oncology, clinicians reported using Cytogen
Corporation's ProstaScint(R) to guide delivery of more targeted radiation to prostate cancer cells. The researchers
combined ProstaScint(R) images with CT (computer tomography) scans to locate the highest areas of tumour burden within the prostate gland and implanted radioactive seeds within these areas - a treatment called radio-immunoguided prostate brachytherapy. Relative to his paper, Rodney J. Ellis, M.D., Director of Brachytherapy, University Hospital of Cleveland and lead author on the new clinical study commented, "I believe that biological imaging with agents such as ProstaScint(R) will advance oncology treatment to the next level by helping improve cure rates and decreasing side effects."
Brachytherapy implants are used in the treatment of localized cancers, primarily prostate, the second most common form of cancer and the second leading cause of cancer deaths in men. Brachytherapy is the fastest growing treatment for early stage prostate cancer and offers a number of advantages compared to alternative treatments, including rapid patient recovery, lower costs and reduced incidence of complications, such as impotency and incontinence.
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 proteomics-driven drug delivery 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, particularly for metastatic cancer of the prostate.
DRAXIMAGE, based in Kirkland Quebec, is Canada's leading manufacturer of radiopharmaceuticals and its products are available in many countries around the world. DRAXIMAGE specializes in the discovery, development, manufacturing and marketing of diagnostic and therapeutic products for use in Nuclear Medicine and Oncology. Fibrimage(R), the Company's diagnostic agent for deep vein thrombosis is undergoing Phase III clinical trials in Canada.
DRAXIS Health Inc. is a diversified speciality pharmaceutical company operating in three niche markets:
Radiopharmaceuticals (DRAXIMAGE), Canadian sales and marketing (DRAXIS Pharmaceutica) and Companion Animal Health (through its global alliance with Pfizer Inc.). DRAXIS supports its own as well as third party manufacturing requirements through its subsidiary, DRAXIS Pharma, located in Kirkland, Quebec.
Except for historical information, this news release contains certain forward-looking statements that involve risk and uncertainties, which may cause actual results to differ materially from the statements made. Such factors include, but are not limited to, changing market conditions, clinical trial results, the establishment of new corporate alliances, the impact of competitive products and pricing, the timely development, regulatory approval and market acceptance of the Company's products, and other risks detailed from time-to-time in the Company's filings with the US Securities and Exchange Commission and Canadian securities authorities.
TOLL FREE: 1-877-441-1984 Paul Lee, DRAXIS E-MAIL: Plee@draxis.com
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Additional Headlines
09/21 10:06 Market News Network
CYTOGEN CORP - Cancer Treatment Way Cleared for Cytogen to Begin U.S. Sales
09/21 07:18 Business Wire
DRAXIS Receives U.S. NRC Approval for BrachySeed(TM) Prostate Cancer Treatment Way Cleared for Cytogen to Begin
U.S. Sales
09/21 07:12 Canadian Corporate News
DRAXIS Receives U.S. NRC Approval for BrachySeed(TM) Prostate Cancer Treatment Way Cleared for Cytogen to Begin
U.S. Sales |
