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

To: peter michaelson who wrote (8236)	5/27/2003 8:48:12 AM
From: Findit	Respond to of 52153

OXGN moving in pre-market on news. Now up 42%. WATERTOWN, Mass., May 27, 2003 (BUSINESS WIRE) -- Evaluation of new vascular targeting agent in humans to follow pre-clinical tests Study published today in Anticancer Research highlights significant potency of anti-tumor compound OXiGENE, Inc. (NASDAQ:OXGN)(XSSE:OXGN) and Cancer Research UK, one of the world's largest cancer research organizations, today announced they are collaborating on the final pre-clinical development of one of OXiGENE's most advanced vascular targeting agents (VTAs), OXi4503. Under an agreement between the parties, Cancer Research UK will complete pre-clinical studies on OXi4503, then plan to move the compound into Phase I human clinical trials. "The completion of pre-clinical development of OXi4503 is one of the operational milestones that we have established for the Company in 2003, and we are pleased by the opportunity to collaborate with Cancer Research UK on this initiative," said Fred Driscoll, OXiGENE's president and CEO. "Our plan is to have the pre-clinical studies concluded this year and prepare for Phase I human trials of the compound early in 2004." "We are very excited to be combining forces with OXiGENE on the development of OXi4503," said Dr. Linda Lashford, Cancer Research UK's Director of Translational Research Development. "We look forward to building on our clinical experience with new VTAs." (SNIP)