Celsion Acquires Exclusive Rights to Microwave Technology for Prostate Cancer Treatment.COLUMBIA, Md.--(BUSINESS WIRE)--March 26, 1999-- -- Technology Expected to Enhance the Treatment of Prostate Cancer When Used in Conjunction with Radiation Seed Implants -- Celsion Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CELN) today announced that it acquired from MMTC, Inc., a Princeton, NJ-based developer of microwave technologies, the exclusive worldwide rights to commercialize MMTC's patented microwave heat and compression technology for prostate cancer treatment. Celsion reported that a prostate cancer treatment system based on the recently licensed technology has been produced. Successful development of the system will allow the Company to enter the $6 billion U.S. prostate cancer treatment market. According to Celsion President and CEO Spencer Volk, "Today's agreement with MMTC expands our growing technology portfolio. We are now pursuing research collaborations to begin the evaluation of our prostate cancer system's safety and efficacy." BREAST CANCER & BPH CLINICALS In addition to its prostate cancer treatment system, Celsion is planning to begin phase one clinicals of its breast cancer treatment This article or section recently underwent a major revision or rewrite and needs further review. You can help! The mainstay of breast cancer treatment is surgery when the tumor is localized, with possible adjuvant hormonal therapy (with tamoxifen or an aromatase system that has Investigational Device Exemption An Investigational Device Exemption (IDE) allows the investigational device to be used in a clinical study in order to collect safety and effectiveness data required to support a Premarket Approval (PMA) application or a Premarket Notification [510(k)] submission to Food and (IDE) approval from the Food and Drug Administration (FDA). Celsion is also conducting phase one clinicals, which are expected to be completed shortly, for its non-surgical, outpatient treatment of benign prostatic hyperplasia benign prostatic hyperplasia n. Abbr. BPH A nonmalignant enlargement of the prostate gland commonly occurring in men after the age of 50, and sometimes leading to compression of the urethra and obstruction of the flow of urine. (BPH). Celsion Corporation is a research and development company dedicated to commercializing medical treatment systems for cancer and BPH using focused heat delivered by patented microwave technology. Clinicals and further development of the Company's treatment systems are being conducted by leading institutions such as the Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, , Massachusetts General Hospital Massachusetts General Hospital Health care The major teaching hospital for Harvard Medical School, widely regarded as one of the best health care centers in the world , Montefiore Medical Center Montefiore Medical Center, in the Bronx, New York, is the university hospital of the Albert Einstein College of Medicine. The hospital, named after Moses Montefiore, is one of the 50 largest employers in New York State [1]. , and Duke University. Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the 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. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, possible changes in cost of materials, expense items, capital expenditures, capital structure, and other financial items; introduction of new products and possible acquisitions of assets or businesses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion