To: Andrew Vance who wrote (13376 ) 4/22/1998 7:33:00 PM From: Tech Master Respond to of 17305
Stock Swappers- This stock is one of my buy and hold candidates for 1998... but you must be patient and must be able to see into the future.... I have...<ggg> Tech Master Wednesday April 22, 8:30 am Eastern Time CGLB Company Press Release Cheung Laboratories, Inc. Ships First Enhanced Cancer Treatment System in the United States, Developed From Star Wars Technology -- Massachusetts General Hospital to Test System on Animal Tumor Models. Objective: Tumor Ablation (i.e., Absolute Tumor Death) -- COLUMBIA, Md.--(BW HealthWire)--April 22, 1998-- Cheung Laboratories, Inc. (OTC BB:CGLB - news) announced today that it has shipped the first commercial version of its enhanced breast cancer treatment system to Massachusetts General Hospital (MGH). The unit combines the Massachusetts Institute of Technology's (MIT) microwave heat focusing technology with the Company's existing cancer treatment equipment which is approved by the U.S. Food and Drug Administration (FDA) for the palliative treatment of recurrent tumors in conjunction with radiation therapy. In September 1997, the FDA's Center for Devices and Radiological Health granted a premarket approval supplement (PMA) permitting Cheung to incorporate MIT's technology into its thermotherapy-based cancer treatment equipment. The MIT technology permits the focusing of heat anywhere in the body without burning the skin or surrounding healthy tissue. Cheung Laboratories has provided a research grant to MGH which will use the Company's equipment for the palliative treatment of animal tumor models. Cheung will use MGH's treatment outcomes from tumor models in animals to determine the parameters for a clinical study to ablate breast cancer tumors in humans. Cheung intends to use this test protocol to immediately begin clinical studies for the ablation of primary breast cancer, thus expanding the indications of use. Dr. Gerald Wolf, director of Massachusetts General Hospital's Center for Imaging and Pharmaceutical Research, stated, ''In addition to being minimally invasive, Cheung Laboratories' equipment provides the type of focused heat treatment I need to ablate cancerous tumors in my experimental animal tumors. Hopefully, this will lead Cheung Laboratories to conduct clinical trials for the ablation of breast tumors in human patients.'' Cheung Laboratories Chairman and Chief Scientific Officer Dr. Augustine Cheung, commented, ''I am very pleased to provide a research grant to a medical facility as reputable and accomplished as Massachusetts General Hospital. This placement marks the beginning of the national marketing efforts for our cancer treatment systems.'' In 1996, Cheung Laboratories obtained an exclusive license for the commercial use of MIT's Adaptive Phased Array (APA) technology. Working in conjunction with MIT, Cheung Laboratories has developed medical treatment equipment able to focus microwave heat on targeted areas while preventing damage to healthy tissue. 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 leading institutions to develop its focused heat treatments, including Massachusetts General Hospital (MGH), Montefiore Medical Center, and Duke University in the United States, and Oxford University and Hammersmith Hospital in England. 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. 10220-1 Old Columbia Road, Columbia MD 21046-1705 (410) 290-5390 FAX: (410) 290-5394.