Announces New Three Year Contract for Leonard S. Jacob, M.D., Ph.D., Chairman and CEO.BLUE BELL, PA--(BUSINESS WIRE)--November 4, 1999-- InKine Pharmaceutical Company, Inc., (Nasdaq: INKP) today announced that Leonard S. Jacob, M.D., Ph.D., Chairman and Chief Executive Officer of InKine has been awarded a new three year employment contract. "We have been very pleased with the progress of the Company, and in particular, how rapidly Diacol has been developed into a commercial opportunity" said Dr. Jerry Weisbach, an InKine Board Member. "We are also pleased with the rapid development of its research and clinical programs and the vision that Dr. Jacob has demonstrated." InKine Pharmaceutical Company, Inc., is a publicly traded, biopharmaceutical company with two late-stage clinical compounds: Diacol, a purgative purgative /pur·ga·tive/ (purg´it-iv) cathartic (1, 2). pur·ga·tive n. An agent used for purging the bowels. adj. Tending to cause evacuation of the bowels. product for colonoscopies and other procedures and uses; and CBP-1011, a steroid molecule for treatment of Idiopathic Thrombocytopenic Purpura Idiopathic Thrombocytopenic Purpura Definition Idiopathic thrombocytopenic purpura, or ITP, is a bleeding disorder caused by an abnormally low level of platelets in the patient's blood. (ITP ITP - Intent to Package ). The Company is focused on the diagnosis and treatment of cancer and autoimmune diseases Autoimmune diseases A group of diseases, like rheumatoid arthritis and systemic lupus erythematosus, in which immune cells turn on the body, attacking various tissues and organs. Mentioned in: Complement Deficiencies, Premature Menopause , and has the additional strategy of acquiring late-stage drug candidates with short time lines to commercialization. Support of early-stage product opportunities comes through its university-based sponsored research agreements. This announcement contains certain forward-looking statements that are subject to risks and uncertainties, including in particular the statement regarding the development of Diacol into a commercial opportunity. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from those currently anticipated as a result of a number of factors, including, but not limited to, the risks and uncertainties discussed under "Other Factors to be Considered" and "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations" in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended June 30, 1999, as filed with the Securities and Exchange Commission. |
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