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Biotech / Medical : Lorus Therapeutics Inc. -- Ignore unavailable to you. Want to Upgrade?

To: trustmanic who wrote (214)	11/20/1998 6:06:00 PM
From: DaveAu	Read Replies (1) \| Respond to of 279

NOVEMBER 19, 1998 Imutec Pharma Announces Name Change To Lorus Therapeutics Inc. TORONTO, ONTARIO--Imutec Pharma Inc. today announced that it has changed its name to Lorus Therapeutics Inc. At the Company's Annual General Meeting of Shareholders yesterday, the President and CEO, Philippe G. Lacaille explained that the name change represents the culmination of a corporate turnaround begun in mid-1996, and that the new name was chosen to signify the Company's pursuit of excellence in the development of effective cancer therapies. "Over the past 18 months, we have focused our efforts in three key areas," said Mr. Lacaille. "First, we hired the people with expertise in managing the process of drug development; second, we established academic and corporate partnerships to leverage our own human resources and to assist us in the development of our products; and finally, we began the process of enriching the Company's product pipeline by in-licensing an exciting new technology. The introduction of Lorus Therapeutics is another step towards fulfilling our vision of building a successful company whose focus is on advancing cancer therapy." At its Annual General Meeting yesterday, Mr. Lacaille highlighted the Company's achievements during its most recent fiscal year. These achievements include: - the strengthening of the Company's product pipeline through the in-licensing of an exciting anti-cancer portfolio (NuChem analogues) discovered at Harvard Medical School; - a Research Agreement with Harvard Medical School to discover additional anti-cancer compounds; - a Research Agreement with the US National Cancer Institute for the pre-clinical screening of the NuChem analogues; - an Agreement with Torcan Chemical for the manufacture of the Company's new products; - the allowance of major US patent claims covering the anti-proliferative effect of many of the NuChem analogues; - positive Phase I/II clinical trial results in pancreatic cancer; - additional preclinical data for Virulizin(r); - approval of Virulizin(r) in Mexico for the treatment of malignant melanoma; - the receipt of 2 Canadian Patents covering Virulizin(r) and its use in the treatment of cancer; - the endorsement and support of the Canadian HIV Trials Network regarding the Company's Phase I/II Kaposi's sarcoma trial. Lorus Therapeutics Inc. is a pharmaceutical company focused on the development of cancer therapies. Lorus' goal is to capitalize on its pre-clinical, clinical and regulatory expertise by developing new drug candidates that can be used, either alone, or in combination, to successfully manage cancer. Through an active acquisition and in-licensing program, the Company is building a portfolio of promising cancer drugs. Late stage clinical development and marketing will be done in cooperation with strategic pharmaceutical partners. Founded in 1986, Lorus Therapeutics Inc. is a public company listed on the Toronto Stock Exchange and the Montreal Stock Exchange under the symbol IMT and on the NASDAQ OTC exchange under the symbol IMUTF. Except for historical information, this press release contains forward-looking statements which reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties which may cause actual results to differ materially from those statements. Those risks and uncertainties include, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process, and other risks detailed from time-to-time in the Company's ongoing quarterly filings, annual reports and 20-F filings. Imutec Pharma's press releases are available through the Company's Internet site: lorusthera.com -30- FOR FURTHER INFORMATION PLEASE CONTACT: Lorus Therapeutics Inc. Paul W. Truscott, Jr. Associate, Corporate Communications (416) 724-1509, ext. 251 (416) 724-1167 (FAX) Email: info@lorusthera.com