CMPN - Contemporary Solutions, Inc. Acquires 20% Interest in Shimoda Atlantic, Inc.LAS VEGAS -- Contemporary Solutions, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CMPN) announced today that LEC Technologies, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Contemporary Solutions, Inc., has acquired a 20% interest in Shimoda Atlantic, Inc., the parent company of ShimodaAtlantic Oncology Biosciences. SA's principal activities are in development of niche oncology pharmaceuticals. The Company plans a Phase II clinical trial Noun 1. phase II clinical trial - a clinical trial on more persons than in phase I; intended to evaluate the efficacy of a treatment for the condition it is intended to treat; possible side effects are monitored phase II of its drug Xenavex(TM) later this year, in non-small cell lung cancer Lung Cancer, Non-Small Cell Definition Non-small cell lung cancer (NSCLC) is a disease in which the cells of the lung tissues grow uncontrollably and form tumors. Description There are two kinds of lung cancers, primary and secondary. patients. Xenavex(TM) is a liquid pharmaceutical similar to digoxin digoxin: see digitalis. , and is designed for daily oral administration. The drug is currently available as a federally controlled prescription item for its labeled indication of vertigo. Xenavex(TM) is manufactured from the leaves of the oleander oleander: see dogbane. oleander Any of the ornamental evergreen shrubs of the genus Nerium (dogbane family), which have poisonous milky juice. Numerous varieties of flower colour in the common oleander, or rosebay (N. shrub. The main active ingredient in the drug, oleandrin, has demonstrated significant anti-tumor activity during in-vitro evaluations, according to a series of peer-reviewed papers published by University of Texas researchers since 1999. A recent study sponsored by the National Institutes of Health suggests that a small group of cardioglycosides including oleandrin, mimic "gene therapy" in cystic fibrosis cases. Xenavex has been approved by the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. , in isolated cases, for "compassionate use" by cancer patients seeking access to it as a "drug of last resort." In the agreement with LEC Technologies, Shimoda receives cash, stock options in LEC Technologies, Inc., and Contemporary Solutions agrees to commercialize and market ShimodaAtlantic's "C-Trial(TM)" clinical trials database solution. C-Trial(TM) is a scalable, menu driven database manager oriented toward all phases of FDA clinical trials. It features fillable "Case Report Forms (CRF's)" and allows study-site clinicians to quickly report and then locally assess their own patient data. The system also allows a study sponsor to remotely access the study-site database, and retrieve data in real-time, and merge it with the data from other study sites. That process allows study managers to make daily assessments of all aspects of the clinical trial process, and provides an extra margin of patient safety. C-Trial and Xenavex(TM) are trademarks of Shimoda Atlantic, Inc. This press release contains "forward-looking statements" within the meaning of Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements can be identified by lead-in "Looking Forward." These statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of the effectiveness of management's strategies and decisions, general economic and business conditions, new or modified statutory or regulatory requirements, and changing price and market conditions. |
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