Celsion Obtains Exclusive License for Heat-Activated Gene Therapy Technology from National Institutes of Health -- NIH --.Business Editors/Health/Medical Writers COLUMBIA, Md.--(BUSINESS WIRE)--Sept. 16, 2003 CELSION CORPORATION (AMEX AMEX See: American Stock Exchange :CLN) announced today that it has acquired exclusive worldwide commercialization rights to a package of proprietary gene therapy technologies developed by scientists at the National Institutes of Health The technology is covered by a pending NIH "Not invented here." See digispeak. NIH - The United States National Institutes of Health. patent application, detailing the use of heat energy to activate and control gene therapy and the construction of various heat-sensitive "Gene Therapy Constructs." Under the license agreement, Celsion has the exclusive rights to develop heat-sensitive gene therapy products activated by microwave heat energy. Celsion believes that its proprietary microwave-focused heating technology, which targets tumors, is an ideal tool for activation and control of heat-sensitive gene therapies. The addition of the NIH technology package to Celsion's technology portfolio significantly strengthens the Company's position as a technology leader in the development of heat-activated gene therapy for targeted treatment of cancer and other localized diseases. Celsion currently owns exclusive worldwide rights to a heat-activated, anti-sense genetic biological modifier developed at Memorial Sloan-Kettering Cancer Center The Memorial Sloan-Kettering Cancer Center (MSKCC) in New York City is a cancer treatment and research institution founded in 1884 as the New York Cancer Hospital. The main campus is located at 1275 York Avenue, between 67th and 68th Streets, with other locations in New and has an option to acquire from Duke University a technology that uses heat to induce genetic anti-angiogenesis and to regulate immunogene therapy. Results of preclinical studies involving both of these technologies have been published in Cancer Research (Memorial Sloan-Kettering: Volume 63, 2003 and Duke: Volume 60, 2000). Celsion is working with scientists at both institutions to develop these technologies further. Access to the new NIH technology package will add strength and depth to the Company's intellectual property portfolio for current and future development. Dr. Augustine Y. Cheung, Chief Executive Officer and Chief Scientific Officer of Celsion, stated, "We are very excited to have acquired this technology from NIH. This proprietary technology significantly strengthens our intellectual property portfolio and enhances our leadership position in the area of heat-activated, gene-based cancer treatments. Work recently published by Dr. Gloria Li from Memorial Sloan-Kettering suggests that our heat-activated, anti-sense biological modifier may strongly sensitize sen·si·tize v. To make hypersensitive or reactive to an antigen, such as pollen, especially by repeated exposure. tumor cells to radiation. When used in conjunction with radiation therapy and activated by focused heat, the modifier could improve the efficacy of, and greatly reduce the toxicity and side effects associated with, radiation therapy. Our microwave heating technology, together with the technology covered by the NIH patent, forms a platform from which many controllable tumor targeting genetic products could be derived." About Celsion: Celsion Corporation, based in Columbia, Maryland, is a research and development company dedicated to commercializing medical treatment systems for cancer and other diseases using focused-heat energy delivered by patented microwave technology. In January 2003, Celsion entered into a strategic alliance with Boston Scientific Corporation (NYSE NYSE See: New York Stock Exchange :BSX) in which Boston Scientific will initially distribute Celsion's BPH BPH abbr. benign prostatic hyperplasia BPH Benign prostatic hypertrophy, a very common noncancerous cause of prostatic enlargement in older men. product worldwide. Boston Scientific currently owns approximately 7% of Celsion's outstanding stock. Celsion has research, license or commercialization agreements with leading institutions such as Duke University Medical Center, 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, , Harbor UCLA Medical Center UCLA Medical Center is a hospital located on the campus of the University of California, Los Angeles in Los Angeles, California. It is rated as one of the top three hospitals in the United States and is the top hospital on the West Coast according to US News & World Report. , 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 Memorial Sloan-Kettering Cancer Center in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Roswell Park Cancer Institute The Roswell Park Cancer Institute is a cancer research and treatment center located in Buffalo, New York. Founded in 1898 by Dr. Roswell Park, it was the first dedicated medical facility for cancer treatment and research in the United States. in Buffalo, New York, and Duke University. For more information on Celsion, visit our website: www.celsion.com. Celsion wishes to inform readers that 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. Readers are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, unforeseen changes in the course of research and development activities and in clinical trials by others; possible acquisitions of other technologies, 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. |
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