More MS news articles for Sep 2001

AlleCure Establishes Corporate Headquarters in Valencia, CA

http://finance.individual.com/display_news.asp?doc_id=CT2001250p2031&page=news

September 7, 2001 6:52pm
Source: PR Newswire

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
     Valencia, CA 91355
     Phone: 661.257.3950
     Main fax: 661.775.2080

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.,
                  +1-661-257-3950, ext. 4251, mlozada@allecure.com

URL:            http://www.allecure.com/
 

Copyright (C) 2001 PR Newswire