http://news.excite.com/news/pr/011107/inflazyme-qtr-letter
Wed, Nov 07 4:05 PM EST
RICHMOND, BC, Nov. 7 /PRNewswire/
-
Dear Shareholders:
I am pleased to report that during
the quarter ended 30-September 2001, we announced the commencement of two
separate Phase I human clinical trials with two new oral anti-inflammatory
compounds: IPL550,260 and IPL512,602. With the commencement of these studies,
we now have three separate and distinct drug candidates undergoing human
clinical trials, including IPL576,092, which is in Phase II trials as a
potential new oral asthma therapy.
During the quarter we also significantly
advanced our understanding of the biological mechanism of these compounds.
Based on this understanding, we believe that these compounds represent
a new class of anti-inflammatory drugs: the "LSAIDs" - Leukocyte Suppressing
Anti-inflammatory Drugs. Inflazyme's LSAIDs include our three clinical
development compounds as well as a number of research compounds that are
currently being evaluated as potential new drug candidates.
Leukocytes (white blood cells) are
an important component of the inflammatory process. Leukocyte accumulation
at sites of inflammation is fundamental to all inflammatory conditions.
During the inflammatory process, mediators released by leukocytes contribute
to the damage and pathology of diseases such as asthma, rheumatoid arthritis,
inflammatory bowel disease, psoriasis, multiple sclerosis and others. By
inhibiting the process of leukocyte infiltration, Inflazyme's LSAIDs may
have application as new therapies in a broad range of diseases.
At present, we have not announced
specific disease indications for IPL512,602 and IPL550,260. Concurrent
to the Phase I studies with these compounds, we are performing a series
of pre-clinical studies designed to determine and differentiate the activity
of each compound for different inflammatory diseases.
During the quarter, we also successfully
completed an $11 million financing, the proceeds of which are being directed
toward accelerating the development of IPL512,602 and IPL550,260.
Our ongoing Phase II "Allergen Challenge"
Trial with IPL576,092 in asthma is targeted to be completed by the end
of the year with results announced in the first quarter of 2002. This study
is being carried out in collaboration with our partner, Aventis Pharma.
As we approach the end of 2001, Inflazyme
remains well positioned for achievement and growth with:
Yours sincerely,
Ian McBeath
The statements made herein contain
certain forward-looking comments. Actual events or results may differ from
the Company's expectations. In addition to the matters described in the
press release, future actions by the U.S. Food and Drug Administration
or equivalent regulatory authorities in other countries, results of pending
or future clinical trails, may affect the actual results achieved by the
Company. The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this information.
Thank you for your continued interest
in and support of Inflazyme.
President & CEO
©2001 At Home Corporation