More MS news articles for May 2001

U.S. Army Tests CT-3 From Atlantic Technology Ventures, Inc.

Proprietary Therapeutic Drug is a Novel Synthetic Marijuana Derivative

http://finance.individual.com/display_news.asp?doc_id=BW20010517BW2261&page=news

Thursday May 17 10:26am
Source: BusinessWire

NEW YORK--(BW HealthWire)--May 17, 2001--

Atlantic Technology Ventures, Inc. (Nasdaq: ATLC - news) disclosed that it has been working with the U.S. Army Medical Research Institute of Chemical Defense (USAMRICD), a world leader in medical chemical defense research.

As part of this effort, Atlantic has been supplying CT-3, a synthetic derivative of tetrahydrocannabinol (THC), the active ingredient in marijuana, to USAMRICD for testing.

"Based on our understanding from conversations with the Army scientists, they're pleased with CT-3's performance in in vitro studies, and have informed us of their intention to move forward with replication of the results and in vivo studies," commented Fred Zotos, President and CEO of Atlantic. "We're very encouraged by the Army's decision to promote CT-3 to further research and development, and see this as one more indication of its broad therapeutic potential in treating a wide variety of medical conditions."

About U.S. Army Medical Research Institute of Chemical Defense (USAMRICD)

The USAMRICD is a world leader in medical chemical defense research. The USAMRICD's mission is to protect the warfighter by timely provision of medical countermeasures. Medical chemical countermeasures protect the warfighter through antidote therapy, topical skin protectant barriers, and pretreatment protective measures.

To facilitate the search for safe and effective medical countermeasures to chemical warfare agents, the USAMRICD has developed an extensive drug screening program. Each drug that is a candidate pretreatment, treatment, protectant, or decontaminant is subjected to a systematic battery of tests designed to promote those that are the safest and most effective to advanced development. The research products of the USAMRICD provide medical countermeasures that treat and protect service members through antidote therepy, topical skin protectant barriers, and pretreatment protective measures.

About CT-3

Atlantic is developing its proprietary CT-3, a patented synthetic derivative of carboxylic tetrahydrocannabinol (THC-7C), as an alternative to NSAIDs, such as aspirin and ibuprofen. CT-3 is a novel synthetic marijuana derivative designed to maximize the medical properties of marijuana without producing undesirable psychoactive side effects. Preliminary studies have shown that CT-3 demonstrates analgesic/anti-inflammatory properties at microgram doses without central nervous system or gastrointestinal side effects, and reduces joint damage caused by rheumatoid arthritis. Atlantic has successfully completed a Phase I clinical trial for CT-3, and is about to announce the commencement of Phase II trials. Atlantic plans to develop oral and parenteral formulations of the compound for chronic pain and inflammation associated with a variety of disease states, and other severe diseases including neurological, musculoskeletal and gastrointenstinal disorders, multiple sclerosis, glaucoma and even cancer.

About Atlantic Technology Ventures, Inc.

Atlantic Technology Ventures, Inc. is a publicly held venture capital company specializing in early-stage, breakthrough technologies and rapidly incubating these through a definitive proof-of-principle. Atlantic currently has investments in Catarex, a device for cataract removal; CT-3, a synthetic derivative of marijuana for treating pain and inflammation; and, superconducting electronics for telecommunications.

Cautionary statement under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995: This press release contains certain forward-looking statements that relate to future scientific, business and financial performance. These statements are only predictions and are subject to a number of risks and uncertainties that may cause the actual events or results to differ from those discussed or implied in these statements. These risks and uncertainties include competition from other manufacturers of related technologies, the unavailability of any necessary intellectual property rights possessed by third parties, and certain of those risks described in Atlantic's most recent report on Form 10-KSB with the Securities and Exchange Commission.

Contact: Investors and Media:

The Investor Relations Group, New York
Shayne Payne / Dian Griesel, Ph.D., 212/825-3210