June 7, 2004
Source: ProMetic Life Sciences Inc.
ProMetic Life Sciences Inc. announced today that its Therapeutic Unit ("ProMetic") has confirmed the oral efficacy of two of its new compounds for the treatment of chronic inflammatory conditions. Data pertaining to the recent studies will be presented at the Bio 2004 Annual International Convention in San Francisco from June 6-9.
"In less than 3 years, the Therapeutic Unit has advanced 7 drug candidates; 2 of which are already in clinical trials, and 2 more reaching clinical status over the next 12 to 18 months", stated Pierre Laurin, CEO. "What is exciting here is the fact that our drug discovery platform has produced biologically active compounds in record time, demonstrating once more the power of our platform technologies."
"We are particularly interested in the fact that these proprietary compounds are exerting their potent anti-inflammatory activity through a novel mechanism of action, providing new hopes and alternatives for several debilitating and potentially life threatening conditions," said Dr. Christopher Penney, Vice-President R & D, Chief Scientific Officer - Therapeutics. "The discovery of oral activity is a bonus because the newest class of therapeutics for the treatment of autoimmune disease, proteins such as antibodies, is not orally active and must be administered by injection".
More on Autoimmune Diseases
The autoimmune diseases/ inflammatory market includes afflictions such as arthritis, psoriasis, multiple sclerosis and type 1 diabetes and is a multibillion dollar opportunity which is forecasted to reach US$25 billion in 2007. Most inflammatory/ autoimmune diseases are debilitating and often fatal. This significant market combined with the high failure rate amongst traditional drug treatments has led to a fragmented or multidisciplinary approach to the treatment of autoimmune and inflammatory diseases. There is a need for novel drugs which are both effective and safe for the treatment of chronic inflammatory conditions.
ProMetic Life Sciences Inc. is an international biopharmaceutical company with headquarters in Montreal (Quebec), and additional facilities in the UK and the USA. ProMetic specializes in the research, development, manufacture and marketing of a variety of commercial applications from its proprietary platform technologies, which are used in the development of therapeutics, large-scale purification of biologics and the elimination of pathogens/viruses.
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to develop, manufacture, and successfully commercialize value-added pharmaceutical
products and to obtain contracts for its products and services and commercial
acceptance of advanced affinity separation technology. Shareholders are
cautioned that these statements are predictions and these actual events
or results may differ materially from those anticipated in these forward-looking
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