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Biotech / Medical : Matritech (NASDAQ - NMPS) -- Ignore unavailable to you. Want to Upgrade?

To: Bob Schlowsky who wrote (592)	3/30/1998 8:25:00 AM
From: Wesley0428	Read Replies (1) \| Respond to of 849

Matritech Researchers Present Data at the AACR Meeting Supporting Utility of Novel NMP Marker for Detecting Pre-Cancerous Cervical Abnormalities Company Also Regains Worldwide Automated Instrument Rights for Cervical Cancer from Bayer Corporation NEW ORLEANS, March 30 /PRNewswire/ -- Matritech, Inc. (Nasdaq:NMPS) announced today the results of a study in which researchers demonstrated that NMP179 may allow physicians to detect pre-cancerous cervical irregularities before cervical cancer develops, a potential improvement over the current Pap smear procedure. The study was presented at the 89th annual meeting of the American Association for Cancer Research (AACR) currently being held in New Orleans. The NMP179 test is based on the Company's Nuclear Matrix Protein (NMP) technology, and correlates levels of NMPs in cervical cells to the presence of cancer. "We believe that NMP179 could be a valuable marker for early detection of cervical abnormalities," said Dr. Susan Keesee, Scientific Officer at Matritech and lead investigator on the study. "The Pap smear, which has been used as a standard screening tool for cervical cancer, is reliant on visually discernible changes in tissue samples and is subject to laboratory error. If the NMP179 can provide an earlier and more accurate diagnosis, we may be able to improve current diagnostic methods and patient treatment." In the study, conducted in collaboration with clinicians at Brigham and Women's Hospital, Boston, and Women's and Infant's Hospital, Providence, NMP179 was found in 20 of 20 cervical tumors and 0 of 10 normal tissue samples. The researchers then tested the NMP179 marker using a monoclonal antibody in a study involving 322 cervicovaginal specimens. Results of this blinded study indicate that NMP179 detected 97% of precancerous high grade or advanced cervical dysplasia (abnormalities) and 82% of precancerous low grade or early stage dysplasia with an estimated specificity of 64%. In a related announcement, Matritech has regained all marketing and product rights which had been granted to Bayer Corporation in the 1995 cervical cancer development and supply agreement between the two companies. In December 1997, Matritech submitted pre-clinical evaluation data to Bayer which had been providing partial funding for this project. After a period of discussion between the two companies, Bayer elected not to proceed with the project. Bayer's option to develop and launch an automated cervical cancer instrument for use with NMP179 has terminated and Bayer is no longer obligated to provide further funding towards the commercialization of the system. "We are in active discussions with leaders in automated clinical cervical cytology who have a substantial investment in the field of cervical cancer. Partnering NMP179 with a company experienced in cervical instrumentation will contribute to the product's efficient clinical development," said David L. Corbet, President of Matritech. "We believe that the research presented today at AACR highlights the potential advantages of our NMP-based technology, and also demonstrates the ability of NMP179 to distinguish cancer cells from normal cells." The American Cancer Society estimates that 13,700 new cases of cervical cancer will be diagnosed in the United States during 1998. Although cervical cancer is one of the most treatable forms of cancer if detected early, approximately 4,900 individuals will die of the disease in the U.S. this year alone. The Pap smear has been the standard diagnostic test for the detection cervical cancer since 1943. Matritech, Inc., based in Newton, M.A., is using its proprietary NMP technology, discovered at the Massachusetts Institute of Technology (MIT) and licensed exclusively to Matritech, to develop and commercialize innovative serum-, cell- and urine-based diagnostics that enable physicians to reliably detect and monitor the presence of bladder, colon, cervical and breast cancer. The Company's first product, NMP22(R) for the management of bladder cancer was approved for sale by the FDA in the U.S. in 1996, and is under distribution in the U.S. by CMS/Fisher Health Care. Except for historical information contained herein, the matters discussed in this news release are forward-looking statements that are subject to risks and uncertainties. Potential risks and uncertainties include, without limitation, risks related to the Company's ability to: successfully negotiate with potential corporate partners, successfully develop, test, produce, and market its new products; obtain necessary government approvals in a timely manner; attract and keep key employees; raise capital for future operations and growth; and successfully respond to technological changes in the marketplace. Additional information on potential factors which could affect the Company's financial results are included in the Company's public filings with the Securities and Exchange Commission. SOURCE Matritech, Inc.