Celsion Announces New Massachusetts Institute of Technology Patent for Cancer Treatments.COLUMBIA, Md.--(BUSINESS WIRE)--Nov. 18, 1998-- -- Celsion Invites Drug Developers to Discuss Development Alliances -- Celsion Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CELN) today announced that 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, has received a U.S. patent for its thermodynamic adaptive phased array (APA (All Points Addressable) Refers to an array (bitmapped screen, matrix, etc.) in which all bits or cells can be individually manipulated. APA - Application Portability Architecture ) system which is designed to activate thermosensitive liposomes Liposomes Aqueous compartments enclosed by lipid bilayer membranes; liposomes are also known as lipid vesicles. Phospholipid molecules consist of an elongated nonpolar (hydrophobic) structure with a polar (hydrophilic) structure at one end. in order to achieve targeted drug and gene delivery for the treatment of localized diseases. The newly patented technology is exclusively licensed to Celsion. MIT's APA technology is designed to focus microwave heat at large tissue masses deep within the human torso while utilizing nullifiers to prevent any heating or damage of surrounding healthy tissue and skin. In Celsion's thermodynamic APA approach, this non-invasive technology can be used to activate thermosensitive liposomes and release pharmaceutical or gene-based therapeutic agents throughout the large tissue mass in order to treat diseases such as cancer. In the thermodynamic APA approach, heat sensitive liposomes are designed to circulate through the blood stream, attach to tumors, and release their drug contents directly at the tumor site when they are activated by the higher temperatures in the treated area. In a similar manner, Celsion is also using the thermodynamic APA technology to trigger and modulate the action of gene therapy for the treatment of cancer. "This novel delivery system is expected to offer significant advantages for treatments which involve either highly toxic therapeutic drugs or genes," stated Spencer Volk, Celsion 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. . "Rather than delivering chemotherapy through the blood stream, for example, the new drug delivery system is expected to target the chemotherapy agent at the cancerous tumor while sparing healthy tissue and skin. "Given the variety of potential applications for this unique delivery and concentration system, we invite drug developers to discuss development alliances with us to treat cancer and other diseases," added Volk. Celsion Corporation is a research and development company dedicated to commercializing medical treatment systems for cancer and 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. using focused heat delivered by several patented microwave technologies. Clinicals and further development of the Company's systems are being conducted by leading institutions such as the Massachusetts Institute of Technology, 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 in the United States, and Hammersmith Hospital and Oxford University in England. 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. 10220-1 Old Columbia Road, Columbia MD 21046-1705 (410) 290-5390 FAX: (410) 290-5394 |
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