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Biotech / Medical : Paracelsian Inc (PRLN) -- Ignore unavailable to you. Want to Upgrade?

To: paul goldstein who wrote (3711)	7/14/1998 9:46:00 AM
From: Jonathan Schonsheck	Read Replies (1) \| Respond to of 4342

Well, Threaders, the Good News Just Keeps Coming! Tuesday July 14, 9:01 am Eastern Time Company Press Release SOURCE: Paracelsian, Inc. Paracelsian and Southern Research Institute Join Forces in Cancer Drug Development ITHACA, N.Y., July 14 /PRNewswire/ -- Paracelsian, Inc. (Nasdaq: PRLN - news; paracelsian.com) announced today that it has signed a collaborative research agreement with the Southern Research Institute (http://www.sri.org), one of the nation's leading centers for research and development of new anti-cancer drugs. Under the agreement, Southern Research will invest in testing a series of Traditional Chinese Medicine herbal extracts from Paracelsian's comprehensive library for ''in vivo'' (live) anti-tumor activity against human breast cancer and prostate cancer tumors in mice. The target extracts were selected based on their high level of activity in Paracelsian's ''in vitro'' (test tube) anti-cancer assays. If the initial testing is successful, Paracelsian and Southern Research can then collaborate further to isolate key compounds and to develop these compounds into effective anti-cancer drugs. The two organizations would also partner in securing funding for the ongoing research and development. ''Plants have provided a major source of important cancer drugs through the years, most notably vincristinc, taxol and derivatives of camptothecin, with taxol possibly being the current leading cancer drug in terms of sales in the world, and, because of the extensive ''in vitro'' assays used by Paracelsian to select the most active extracts among approximately 3000 that were available, there is a significant probability of success,'' said Dr. Robert Struck, the scientist directing the investigations at Southern Research and the Director of the Biochemistry Department. ''This agreement reconfirms our dedication to fully explore and develop any and all pharmaceutical opportunities deriving from our library of Traditional Chinese Medicines,'' said Bernie Landes, Paracelsian's President and CEO. ''It is a powerful step forward in delivering on the expectations of our shareholders,'' he added. Southern Research, with facilities in Birmingham, Alabama, Research Triangle Institute, North Carolina and Frederick, Maryland, is a multidisciplinary contract research organization and is one of the most respected not-for-profit research organizations in the United States. A world leader in scientific research, Southern Research has a distinguished record of success in drug discovery and development. Among its accomplishments, the Institute has developed four (4) FDA-approved drugs currently used successfully in the treatment of cancer and a fifth FDA-approved drug for the treatment of toxicities associated with cancer drug treatment. Southern Research also possesses a full-service HIV research and development capability and is developing novel new approaches in gene therapy. Paracelsian is a unique biotechnology company whose business centers on the development and application of functional bioassays. These assays are used for Quality Assurance of herbs, botanicals and other dietary supplements, in the development of dietary supplement, OTC and pharmaceutical products, and in monitoring environmental toxins and identifying carcinogens. On July 9, 1998 Paracelsian announced a strategic alliance with R.P. Scherer North America, a division of R.P. Scherer International Corporation for the marketing and distribution of its BioFIT ''Functional'' Certification Program which establishes a new, higher standard of quality for herbal dietary supplements. Notice: This news release may contain forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including but not limited to, the results of research and development efforts, the effect of regulation by the United States Food and Drug Administration and other agencies, the impact of competitive products, product development commercialization and technological difficulties, and other risks detailed in the Company's periodic reports filed with the Securities and Exchange Commission. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements. SOURCE: Paracelsian, Inc. -------------------------------------------------------------------------------- More Quotes and News: Paracelsian Inc (Nasdaq:PRLN - news) Related News Categories: biotech, medical/pharmaceutical --------------------------------------------------------------------------------