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Gold/Mining/Energy : Procyon Biopharma Inc. -- Ignore unavailable to you. Want to Upgrade?

To: thebeach who wrote (293)	11/14/2000 7:51:23 PM
From: thebeach	Respond to of 356

11/14/00 - Signs Definitive Agreement With Biovation Ltd. of the U.K. to PROCYON BIOPHARMA INC ("PBP-T;PCYBF-L") - Signs Definitive Agreement With Biovation Ltd. of the U.K. to - Develop Lead Anti-Cancer Therapeutic Monoclonal Antibody 2C5 Procyon BioPharma Inc. ("Procyon") announced that it has concluded a definitive agreement with Biovation Ltd. of Aberdeen, Scotland (a member of the Merck Group) for the development of DeImmunized ANA therapeutic monoclonal antibodies. This agreement follows upon a letter of intent signed on October 5, 2000. The antibodies to be developed under the agreement are part of the ANA pipeline which Procyon has been developing, with the lead therapeutic candidate designated as 2C5. The ANA antibody platform has multiple applications including therapeutic, diagnostic and vaccine products. These treatment modalities are expected to be applicable to a wide variety of cancers such as lymphoma, melanoma and colorectal cancers. The current agreement is for a maximum of a two-year period and involves a team of researchers at both Biovation and Procyon working concurrently on the program. The resulting therapeutic monoclonal antibody candidates will be tested in suitable animal models and subsequently subjected to trials in humans. The terms of the agreement include sponsored development, milestone payments and royalties. The precise financial terms of the transaction have not been disclosed. "The interest shown by Biovation in helping us move our ANA technology forward is extremely encouraging," said Hans J. Mader, President and CEO of Procyon Biopharma. "With the help of Biovation's DeImmunization technology, our goal is to accelerate the development of the ANA technology resulting in an IND to conduct human clinical trials late in 2001." "The prospects for the development of the ANA technology and the range of cancers that it has the potential to treat make this an interesting project for Biovation," said Dr. Frank J. Carr, Chief Executive Officer of Biovation Ltd. "We are convinced that this program will be both scientifically and financially rewarding for both parties." Biovation Limited is a UK-based biopharmaceutical company specialising in antibody and protein engineering technology. It recently joined the Merck Group of companies. Biovation's proprietary DeImmunization technology is designed to prevent adverse immunological reactions in patients, which can limit the therapeutic potential of monoclonal antibodies and other proteins. Biovation has, to date, applied this technology for partners in the USA, Europe, Australia, Taiwan and Japan leading to several new product candidates for a variety of diseases. Procyon BioPharma Inc. is a publicly listed, biopharmaceutical Company focused principally on advancing two powerful platform technologies that have the potential to diagnose and treat cancer. Procyon's non-pathogenic Antinuclear Autoantibodies (ANAs) bind specifically to multiple cancer cell types strongly enhancing the immune response to cancer cells. Prostate Secretory Protein (PSP(94)) is a naturally occurring human protein that has the potential to treat prostate cancer by inhibiting abnormal prostate cell growth. In addition, the estimation of PSP(94) levels in prostate cancer patients may have prognostic and diagnostic applications. Procyon also has two late-stage products: FIBROSTAT(TM), a topical cream for the management of newly formed scars following surgery or burns and COLOPATH(TM), a rapid, non-invasive screening test for colorectal cancer. Procyon's shares trade on the Toronto Stock Exchange under the ticker symbol, PBP. TEL: (514) 685-9283 Procyon BioPharma Inc. Hans J. Mader, President and CEO Email: hmader@procyonbiopharma.com INET : www.procyonbiopharma.com TEL: (514) 843-2309 NATIONAL Public Relations, Nathalie Bourque

To: thebeach who wrote (293)	11/17/2000 4:31:10 AM
From: thebeach	Read Replies (1) \| Respond to of 356

We sit here after not attending the meeting and from what I am being told everything was a success. Let us tip our hats to Hans,Chandra and Co.for a year which will go down as the year Hans steered this future behemoth in the Biotech field in the correct and focused direction. I can remember a few years ago Procyon's Board consulted with a gentleman who was widely respected across Canada and he emphatically stated " Chandra,you need tofocus on a few things and see them through,if you do this there is no doubt this company will flourish" We see Procyon doing just that and we can all sleep very well now. Congrats everyone for a job well done,and hopefully Judson Woods will emulate the work ethic of Procyon's leaders.