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Gold/Mining/Energy : Procyon Biopharma Inc. -- Ignore unavailable to you. Want to Upgrade?

To: thebeach who wrote (106)	3/29/1999 6:09:00 PM
From: thebeach	Read Replies (1) \| Respond to of 356

The Great News keeps coming: Why on earth is the stock price so depressed? CANADA NEWSWIRE Date 03/29/99 Company PROCYON BIOPHARMA INC. Title Procyon BioPharma Inc. announces issuance of United States patent for treatment of scar tissue " BC-Procyon-FIBRO-patent 03-29 0539 News release via Canada NewsWire, Toronto 416-863-9350 -ME- Attention Business/Medical Editors: ^Procyon BioPharma Inc. announces issuance of United States patent for treatment of scar tissue@ LONDON, ON, March 29 /CNW/ - Procyon BioPharma Inc. (ASE:PBP) announced today that United States Patent No. 5,885,982 entitled ''Use of Transglutaminase Inhibitor for the Treatment of Scar Tissue'' has issued. The patent covers the Company's late stage product FIBROSTAT(TM), a topical therapeutic designed to prevent excessive scarring and improve the quality of wound healing following surgery or serious burns. ''There is a significant need for a product that can prevent excessive scarring without the severe side effects caused by current therapies. This patent further validates the ability of FIBROSTAT(TM) to address the drawbacks of current therapies for scarring, as well as strengthens our intellectual property position as we finalize our out-licensing efforts'' said Dr. Chandra Panchal, President and Chief Executive Officer. ''The protection of our proprietary position is a critical consideration to our prospective partners.'' There are approximately 60 million surgeries and 2 million severe burns in the United States each year. Approximately 30 percent of all incisional wounds and 50 percent of serious burns cause moderate to severe scarring. Excessive scarring has been linked to the elevated and persistent activity an enzyme involved in the manufacture of collagen. Clinical studies have demonstrated that FIBROSTAT(TM) inhibits the activity of this enzyme, thereby permitting proper tissue remodeling and reducing scarring from the wound healing process. Current treatments, including steroid therapy, laser ablation and scar revision have significant side effects. FIBROSTAT(TM) is available in Canada under the Emergency Drug Release Program. The technology is also patented in Australia, and has patents pending in Canada, Japan and Europe. Procyon BioPharma is seeking a strategic partner to assist in the completion of clinical studies and commercialization of FIBROSTAT(TM). Procyon BioPharma is a biopharmaceutical company engaged in the discovery and development of innovative products for the treatment and diagnosis of cancer. The Company is advancing a broad pipeline of products based on its proprietary Antinuclear Auto-Antibody (ANA) and Prostate Secretory Protein (PSP94) technologies. Procyon BioPharma is also completing the development of COLOPATH(TM), a screening test for colorectal cancer. The Company is headquartered in London, Ontario with research facilities in London, Ontario and Boston, Massachusetts. This news release may contain ''forward-looking statements'' based upon current expectations but involving known and unknown risks and uncertainties. Actual results or achievements of the Company may be materially different from those expressed or implied. The Company's current plans and objectives are based upon assumptions involving judgments with respect to factors including technology development, economic, competitive and market conditions and future business decisions. These factors are difficult or impossible to predict accurately, may change and many are beyond the control of the Company. Therefore, investors are cautioned that there can be no assurance that the forward-looking statements will prove to be accurate. ''The Alberta Stock Exchange has neither approved or disapproved the information contained herein.'' -0- 03/29/1999 /For further information: Dr. Chandra J. Panchal, President & CEO or Douglas S. Alexander Senior Vice-President, Finance & CFO, Procyon BioPharma Inc., (519) 432-8486; Public Relations: Gretchen L. P. Schweitzer, Feinstein Kean Partners, (617) 577-8110; Investor Relations: Mark Brennan, Linear Capital Corp., (416) 364-2266/ (PBP.) CO: Procyon BioPharma Inc. ST: Ontario IN: MTC SU: