Altachem Pharma Announces The Acquisition Of A Noval Immunomodulator To Be Used Alone Or With Their "Hypocrellin Based Products.Business Editors & Health/Medical Writers BIOWIRE2K EDMONTON, Alberta--(BUSINESS WIRE)--March 18, 2002 Mr. Warren Jackson, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Altachem Pharma Ltd. (CDNX CDNX See Canadian Venture Exchange (CDNX). : AAF AAF abbr. Army Air Forces ) is pleased to announce the acquisition of a novel immunomodulator with excellent anti-cancer properties. Under this transaction, Altachem will issue from treasury 400,000 common shares subject to certain development milestones being met and the receipt of all necessary stock exchange and regulatory approvals. It is currently thought that one of the origins of cancer is due to a lapse of the body's immune system immune system Cells, cell products, organs, and structures of the body involved in the detection and destruction of foreign invaders, such as bacteria, viruses, and cancer cells. Immunity is based on the system's ability to launch a defense against such invaders. to detect cancer cells as invaders of the host. The immunological approach to cancer therapy involves modification of the immune response immune response n. An integrated bodily response to an antigen, especially one mediated by lymphocytes and involving recognition of antigens by specific antibodies or previously sensitized lymphocytes. to cancer cells, which can lead to tumor regression and rejection. The proprietary immunomodulator that is being acquired is to be used alone or in combination with Altachem's "Hypocrellin based products". Hypocrellins, which are not toxic to the human body, are administered intravenously to cancer patients. Targeting light or ultrasound to the tumor volume excites the compounds to a toxic state, which is an effective means of tumor control. The major advantage of this strategy compared with traditional chemotherapy, is greatly reduced side effects. The Company believes that use of an immunomodulator in combination with the Hypocrellin based product will not only reduce tumor growth, but also limit the spread of the cancer to distant organs. The product is in the late stages of preclinical work. "The acquisition of this companion product strengthens our product portfolio and helps establish Altachem as a leader in the development of nontoxic treatments of cancer," said Dr. Madi R. Madiyalakan, Executive Vice President for Research and Development. Altachem Pharma Ltd. is a publicly traded (CDNX:AAF), Alberta-based pharmaceutical company committed to the development and commercialization of new pharmaceutical products to enrich and prolong the lives of people. The Corporation is developing a multi-tiered, integrated approach for the treatment of HIV/AIDS HIV/AIDS Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome and Cancer. The lead products of the Corporation are based on its two proprietary drugs: HIP and HB. The Corporation's manufacturing facility is certified compliant with internationally recognized quality systems standards, ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9002:1994, ISO 13488:1996 and EN 46002:1997. Certain information contained in this press release may be forward-looking and is subject to unknown risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct. "The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has not reviewed and does not accept responsibility for the adequacy and accuracy of this release." |
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