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Biotech / Medical : IVAX Insider Trading -- Ignore unavailable to you. Want to Upgrade?

To: 5,17,37,5,101,... who wrote (232)	12/4/1997 10:32:00 PM
From: flickerful	Read Replies (3) \| Respond to of 756

a now familiar theme revisited...( do you think artie consulted frosty on the need for this release?) Cytoclonal Pharmaceutics Confirms Paclitaxel (Taxol(R)(1)) Position DALLAS, Dec. 4 /PRNewswire/ -- The following release was issued today by Cytoclonal Pharmaceutics Inc., ("CPI" or the Company) (Nasdaq: CYPH, CYPMW, CYPHZ): In response to investor inquiries regarding company stock activity, Arthur P. Bollon, Ph.D., chairman and chief executive officer, said today that the recent decision by Immunex Corporation to challenge Bristol-Myers Squibb's Paclitaxel (Taxol(R)(1)) position and patents does not adversely affect CPI which is currently developing a fungal fermentation process to produce a better supply of more cost-effective Paclitaxel. Microbial fermentation is considered one of the most cost-effective methods to make drugs such as antibiotics. On October 7, 1997, the company announced patent claim approval for broad claims to any microorganisms isolated from the yew tree that make Paclitaxel. CPI also has exclusive worldwide rights for technology, developed at UCLA, for Paclitaxel treatment of Polycystic Kidney Disease (PKD). Patent claims for this potential new use of Paclitaxel were recently allowed, as announced by the company on September 16, 1997. This potential new use of Paclitaxel is outside the domain of other Paclitaxel patents presently held by other companies, and is also outside the domain of the recent action taken by Immunex. More than 5 million people worldwide, including 500,000 in the US, have PKD. Of those in the US, 300,000 to 400,000 people could be candidates for the potential treatment using Paclitaxel. Presently, approximately 200,000 cancer patients are under Paclitaxel (Taxol) treatment, resulting in a market projected to exceed $1 billion this year. New indications for the drug, such as the potential treatment of PKD, could have a significant impact on the total Paclitaxel market. CPI also is developing a diagnostic test and therapeutic products for lung cancer based on a human gene, LCG, isolated by CPI scientists and patented in December 1996. The lung cancer gene and protein product and a melanoma- related protein are being developed to target cancer drugs such as Paclitaxel to reduce toxicity. The company, which is also isolating other human cancer genes, is scheduled to present its research at an invited lecture at the Cambridge Healthcare Conference on the Human Genome Project in San Francisco from February 9-11, 1998. Cytoclonal Pharmaceutics Inc. is a biopharmaceutical company developing therapeutic and diagnostic products for various diseases such as cancer and infectious diseases. (1) Marketed by Bristol-Myers Squibb SOURCE Cytoclonal Pharmaceutics Inc. CONTACT: Arthur P. Bollon, Ph.D., Chief Executive Officer of Cytoclonal Pharmaceutics, 214-353-2921; or Thomas Redington of Redington, Inc., 203-222-7399, or 212-926-1733 ------------------------------------------------------------------------ (Today's News) (Company News On-Call) (Feature News) (Automotive) (Entertainment) (Health/Biotech)(Technology) (Financial) (Energy) (Washington and the World) (Money Talks) (About PRN)(Ask PRN) (Links) (PRN Events) ------------------------------------------------------------------------ c1997 PR Newswire. All rights reserved. Redistribution, retransmission, republication or commercial exploitation of the contents of this site are expressly prohibited without the written consent of PR Newswire. These pages have been optimized for Netscape v.2.0 or later