http://finance.individual.com/display_news.asp?doc_id=CT2001232b5676&page=news
August 20, 2001 10:00am
LOS ANGELES, Aug 20, 2001 (BW HealthWire)
-- Advanced Biotherapy Inc. (OTCBB:ADVB) has received a "notice of allowance"
from the United States Patent and Trademark Office (USPTO) for a utility
patent to be issued for an antibody to treat five autoimmune diseases.
The patent is expected to be issued
within 90 days, according to company Chief Executive Officer Edmond F.
Buccellato.
"The notice of allowance is a critical
milestone for our company and further validates the novelty and importance
of our underlying scientific research. We plan to disclose full details
when the patent is issued," Buccellato explained.
The USPTO issues a notice of allowance
when a company has completed the application and review process for a U.S.
patent and has satisfied all of the legal criteria for patentability of
the invention.
"This is the legal stake in the ground
that our shareholders and management have been anticipating," noted Alexander
L. Cappello, chairman of the board of Advanced Biotherapy and chairman
and chief executive officer of Cappello Group Inc., a Santa Monica-based
investment banking firm.
Advanced Biotherapy is developing
new therapeutic strategies for the treatment of severe autoimmune diseases.
Drugs that may be developed under the company's patents neutralize immunomodulators
called cytokines, which have been linked to diseases such as rheumatoid
arthritis, multiple sclerosis, AIDS and other autoimmune diseases.
Statements made in this news release,
other than statements of historical fact, are forward-looking statements
and are subject to a number of uncertainties that could cause actual results
to differ materially from the statements made, including risks associated
with the success of clinical trials, the progress of research and product
development programs, the regulatory approval process, competitive products,
future capital requirements and the extent and breadth of the company's
patent portfolio. See the company's public filings with the Securities
and Exchange Commission for information about risks that may affect the
company.
CONTACT: For Advanced
Biotherapy Inc.
Copyright (C) 2001 Business Wire
Source: Business Wire
310/458-1224
Rick Terrell, rterrell@cswpr.com
Tracy Olmstead Williams, twilliams@cswpr.com