AGI Dermatics Regains All Rights to Skin Cancer Prevention Drug Dimericine from Elan Joint Venture; Clinical Development of T4N5 Liposome Lotion Continues as High Priority for AGI.Business Editors/Health/Medical Writers FREEPORT, N.Y.--(BUSINESS WIRE)--April 16, 2003 AGI (Artificial General Intelligence) A machine intelligence that resembles that of a human being. Considered impossible by many, most artificial intelligence (AI) research, projects and products deal with specific applications such as industrial robots, playing chess, Dermatics announced today that it has regained all rights to T4N T4N Thanks for Nothing 5 Liposome liposome (lī`pəsōm', lĭp`ə–), microscopic, fluid-filled pouch whose walls are made of layers of phospholipids identical to the phospholipids that make up cell membranes. Lotion (Dimericine(R)) in connection with the termination of its Dimericine Development Corp. joint venture with Elan Corporation, plc. (NYSE NYSE See: New York Stock Exchange :ELN). "We are pleased to have negotiated a favorable outcome to our joint venture," said Daniel B. Yarosh, Ph.D., AGI Dermatics' President. "We are enthusiastic about the potential of Dimericine for people at risk for skin cancer, and we are continuing to aggressively pursue its clinical development." The conclusion of Elan's participation in the joint venture results from Elan's continuing restructuring efforts. Elan sold its portion of the partnership as part of the termination, and remains only as a shareholder of AGI Dermatics. Applied Genetics Inc. Dermatics is a private biopharmaceutical company focusing on the dermatology and lifestyle enhancement market. The Company invents and acquires new molecular biology technology and applies it to products for aging and cancer prevention. These products are based on the Company's proprietary drug delivery technology centered on liposomes Liposomes Aqueous compartments enclosed by lipid bilayer membranes; liposomes are also known as lipid vesicles. Phospholipid molecules consist of an elongated nonpolar (hydrophobic) structure with a polar (hydrophilic) structure at one end. for skin. AGI Dermatics is commercializing products that repair DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. and restore health that has been damaged by age or the environment, tracking the demands of our changing demographics. Among the fields of biotechnology, AGI is a world leader in liposome dermatics, the application of liposome technology to skin, and DNA repair. See http://www.agiderm.com. |
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