To: Patrick Slevin who wrote (11833 ) 2/11/1998 10:00:00 AM From: Tech Master Read Replies (1) | Respond to of 17305
Tech Master's High Risk/High Return Update: CGLB PRESS RELEASE- I love this company....<ggg> Wednesday February 11, 8:32 am Eastern Time Company Press Release SOURCE: Cheung Laboratories, Inc. Cheung Laboratories, Inc. Obtains Exclusive License Agreement For Patented Technology Enhancing Treatment of Prostate Diseases COLUMBIA, Md., Feb. 11 /PRNewswire/ -- Cheung Laboratories, Inc. (OTC Bulletin Board: CGLB - news) announced today that it has obtained the exclusive commercialization rights for two patents pertinent to radiometric temperature sensing technologies as part of its Benign Prostatic Hyperplasia (BPH) treatment system. The royalty-based agreement permits Cheung to incorporate the non-invasive temperature measurement techniques into the development of its BPH thermotherapy treatment system in order to monitor temperature during the procedure. Both patents cover the use of microwave radiometry for temperature measurement within the human body. BPH causes an enlargement of the prostate gland and results in pain, weak urine flow, and frequent urination. This disorder affects an estimated 50% of men over the age of 55, or 7.2 million men in the U.S. BPH treatment is currently a $3 billion market nationally, $9 billion worldwide. Cheung has adapted the technologies to gauge temperatures during BPH thermotherapy treatments. The Company's patented BPH system is designed to shrink a swollen prostate by utilizing a combination of mild focused microwave heat and compression through a unique balloon catheter. A proprietary ultra- sensitive radiometer is connected to a microwave antenna which will receive microwave signals. Using advanced signal processing techniques, the detected signal can be converted to temperature information to avoid overheating the treatment area. Dr. Augustine Cheung, chairman and chief scientific officer of Cheung Laboratories, commented, ''Adding these patented radiometric technologies to our proposed BPH treatment system will give us a significant market advantage. Unlike other treatments on the market, our system is a single, in-office procedure which will provide immediate relief and long term symptom control without pain or catheterization. With the addition of the radiometry equipment, we now have what we believe to be the only product capable of quantifying heat dose, thereby guaranteeing the repeatability and reliability of thermotherapy.'' An application will be filed with the U.S. Food and Drug Administration (FDA) requesting permission to begin clinical studies of Cheung's BPH treatment system in order to obtain sufficient data for a Pre Market Approval (PMA) in the near future. Utilizing the Company's technology, the Montefiore Medical Center, the teaching hospital of the Albert Einstein College of Medicine in New York City, is currently conducting in vivo studies to be followed by clinical trials on patients. Cheung Laboratories, Inc. is a research and development company dedicated to commercializing medical treatment systems for cancer and benign prostate hyperplasia (BPH) utilizing deep focused heat delivered by patented microwave technology. Cheung is presently working with Massachusetts General Hospital (MGH), Memorial Sloan-Kettering Hospital, Duke University, Oxford's Hammersmith Hospital, and others to develop its focused heat treatments. Forward-looking statements in this release are made pursuant to the ''safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, possible changes in cost of materials, expense items, capital expenditures, capital structure, and other financial items; introduction of new products and possible acquisitions of assets or businesses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. SOURCE: Cheung Laboratories, Inc.