http://finance.individual.com/display_news.asp?doc_id=CT2001250p2031&page=news
September 7, 2001 6:52pm
VALENCIA, Calif., Sep 7, 2001 /PRNewswire
via COMTEX/ -- AlleCure Corp. ("AlleCure") a biopharmaceutical company
developing and discovering vaccines and therapies for allergies and autoimmune
diseases, announced today that it has established corporate headquarters
in the Valencia Commerce Park at 28903 North Avenue Paine. When complete,
the facility will consist of 250,000 sq. ft. of manufacturing, R &
D, and office space for approximately 400 - 500 employees.
Established less than two years ago,
AlleCure has already developed products that are currently in or ready
to enter clinical trials. The company was originally founded to develop
vaccines targeting a wide range of allergies. AlleCure has since broadened
its focus to include small molecules, biotherapeutics, and delivery technologies
to treat immune system imbalances. In this short time, the company has
worked quickly to coordinate its drug discovery and development programs
with its business operations.
"Based on confidence in the company's
rich product pipeline, AlleCure is now undertaking major capital investments
to ensure the long-term growth of the company," said Stephen McCormack,
PhD, President and CEO of AlleCure. "We are proud to join the growing biomedical
industry in the Santa Clarita Valley. The support provided by our chairman,
Alfred Mann, and the investment community has enabled AlleCure to catapult
itself to the forefront of the healthcare sector."
"I'm excited that promising companies
such as AlleCure are expanding in the greater Los Angeles area and hope
that such moves will further position Los Angeles as a center for biotechnology,"
added Fariba Ghodsian, PhD, Managing Director and Director of Healthcare
Research for Roth Capital Partners, a regional investment banking firm.
AlleCure (http://www.allecure.com/
) is a biopharmaceutical company that discovers and develops therapeutics
to prevent and treat conditions caused by immune system imbalance. The
company's proprietary allergy vaccine system may be capable of treating
specific allergies with only three to six injections within three to six
months. In contrast, conventional allergy shots require between 50 to 100
treatments over two to five years. The company plans to bring its AlleVax(TM)
allergy vaccines to market using this system, starting with treatments
for allergies to insect venom, pollens, and dust mites. The company is
also developing biotherapeutics and drugs for treatment of immune-related
diseases, such as asthma, restenosis, and autoimmune disorders such as
Crohn's disease, multiple sclerosis and rheumatoid arthritis. AlleCure
is part of a privately held biotech conglomerate, MannKind Corporation,
headed by entrepreneur Alfred E. Mann.
AlleCure's corporate headquarters
are located at:
28903 North
Avenue Paine
For further information, please contact
Michelle Lozada, Corporate Communications of AlleCure Corp., +1-661-257-3950,
ext. 4251, mlozada@allecure.com
SOURCE AlleCure Corp.
CONTACT: Michelle
Lozada, Corporate Communications of AlleCure Corp.,
URL:
http://www.allecure.com/
Copyright (C) 2001 PR Newswire
Source: PR Newswire
Valencia,
CA 91355
Phone:
661.257.3950
Main fax:
661.775.2080
+1-661-257-3950, ext. 4251, mlozada@allecure.com