Adherex - Oxiquant Merger Completed, Company Has Four Anti-Cancer Compounds Ready for Clinical Development.Business/Health Editors OTTAWA--(BUSINESS WIRE)--Nov. 21, 2002 Adherex Technologies (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :AHX AHX American History X (movie) AHX Abyss' Highest eXperience ), a drug discovery and development company with an exclusive focus on cancer, today announced its merger with Oxiquant Inc. has been successfully completed. The newly combined entity will focus on developing anti-cancer therapeutics and has a product portfolio of four compounds that are expected to be in clinical development in 2003. Oxiquant has three products currently in the clinical stage of development: Sodium Thiosulfate sodium thiosulfate, Na2S2O3, colorless crystalline compound that is more familiar as the pentahydrate, Na2S2O3·5H2 (STS (Synchronous Transport Signal) The electrical equivalent of the SONET optical signal. In SDH, the European counterpart of SONET, STS is known as STM (Synchronous Transport Module). ), a chemoprotectant intended to prevent the disabling loss of hearing associated with certain cancer drugs including widely used platinum-based anticancer agents; Mesna, a compound that has been shown to display chemotherapeutic activity in the low oxygen environments of tumors and; N-Acetylcysteine (NAC See network access control. ), a chemoprotectant being studied for treatment in the prevention of bone marrow suppression Bone marrow suppression A decrease in cells responsible for providing immunity, carrying oxygen, and those responsible for normal blood clotting. Mentioned in: Cancer Therapy, Definitive bone marrow suppression and gastric mucosal damage resultant from chemotherapy regimens. Adherex's lead compound, EXHERIN(TM), is a member of a new class of drugs called angiolytics. This fast acting compound selectively causes tumour blood vessels Blood vessels Tubular channels for blood transport, of which there are three principal types: arteries, capillaries, and veins. Only the larger arteries and veins in the body bear distinct names. to rupture and slows or stops the flow of blood necessary for cancer cells to grow and flourish. Clinical testing of EXHERIN(TM) is expected to begin before the end of the year. All of Adherex's non-cancer related assets have been spun-off into a new company, Cadherin Biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. Inc. Shares in this new company will be distributed November 28th, 2002, to Adherex shareholders of record on November 14th. This special dividend is issued on a return of capital basis and is not anticipated to be a taxable event Taxable event An event or transaction that has a tax consequence, such as the sale of stock holding that is subject to capital gains taxes. to shareholders. Further details on Cadherin Biomedical Inc. can be found in the Adherex Management Proxy Circular dated October 4th, 2002, a copy of which can be downloaded from the financial section of the Adherex website. About Adherex Technologies Adherex Technologies is an Ottawa-based cancer therapeutics company. The lead compound, EXHERIN(TM), works to destroy the blood vessels that feed a cancerous tumor, essentially destroying the tumour's food supply. For more information, please visit Adherex's Web site at www.adherex.com. About Oxiquant Oxiquant is an oncology focused bio-pharmaceutical company developing products for use in cancer chemotherapy. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Certain information contained in this news release is forward-looking and is subject to unknown risks and uncertainties. The actual results, performance or achievements of the company may differ materially from the results, performance or achievements of the company expressed or implied by such forward looking statements. |
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