Checkpoint Genetics Pharmaceuticals Inc. Announces Completion of Technical Audit Report of CGI Operations: On-Time Achievement of Business Plan Milestones.Business Editors & Health Writers LOS ANGELES--(BW HealthWire)--May 8, 2001 Checkpoint Genetics Inc. (CGI CGI in full Common Gateway Interface. Specification by which a Web server passes data between itself and an application program. Typically, a Web user will make a request of the Web server, which in turn passes the request to a CGI application program. ), a majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. of Checkpoint Genetics Pharmaceuticals Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). Pink Sheets:CKPT CKPT Checkpoint CKPT Cockpit ), has received the results of a technical due-diligence audit from an independent auditor Independent Auditor An external auditor with a certified public accounting designation that qualifies him or her to provide an auditor's report. Notes: These auditors aren't affiliated with the company being audited. , following the expansion of laboratory and research facilities in West Chester West Chester, borough (1990 pop. 18,041), seat of Chester co., SE Pa., W of Philadelphia; inc. 1799. Primarily residential, West Chester was long the trade and processing center for an agricultural region that is now mainly suburbs. , Pa. The technical audit was completed on April 16, 2001, nine months after the first funding infusion to CGI by the holding company's intermediary subsidiary, Checkpoint Genetics Group Inc. The result of the technical audit showed very satisfactory results based on the on-time achievement of the business plan milestones of CGI. CGI is scheduled to make an investigational new drug (IND) application to commence human clinical trials on a new drug by the end of 2001. Checkpoint Genetics Inc. is a privately controlled pharmaceutical company, focused on the development and commercialization of products for the prevention of cardiovascular diseases Cardiovascular disease Disease that affects the heart and blood vessels. Mentioned in: Lipoproteins Test cardiovascular disease and the maintenance of heart health. The company's management and scientific teams are experienced leaders in pharmaceutical development and specialize in the regulation of cell cycle signals associated with cardiovascular diseases. Checkpoint Genetics' proprietary development program is based upon small molecule regulation of cell cycle signals associated with cardiovascular diseases. The company's patent portfolio also describes a library of compounds demonstrating neuroprotection. Its intellectual property is based upon the benefits of a traditional Japanese diet. Certain statements in this news release constitute "forward- looking statements" that are subject to risks and uncertainties that may cause the actual results of the company to be different from expectations expressed or implied by such forward-looking statements. Such factors include but are not limited to uncertainty of market acceptance of the company's products, the uncertainty of expenses associated with clinical trials and research efforts that may affect the continued profitability of the company, uncertainty of regulatory approvals, the timing and content of decisions by the Food and Drug Administration, the uncertainty of market conditions, and other risk factors detailed in the company's Securities and Exchange Commission filings. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion