Combination of Epimmune and Cytel Completed; Nasdaq Trading to Begin Under New Symbol, EPMN.SAN DIEGO--(BW HealthWire)--July 1, 1999-- Epimmune Inc. announced today that it has completed the merger with Cytel Corp. (Nasdaq:CYTL), as previously announced on June 15, 1999. The company has been renamed Epimmune Inc. and, effective July 2, 1999, its stock will begin trading on Nasdaq under the symbol "EPMN." The company will focus on building and realizing value from Epimmune's proprietary vaccine technology. "The transition from Cytel to Epimmune is now complete," commented Deborah Schueren, Epimmune's president and chief executive officer. "With a healthy cash position, a modest burn rate, a strong collaboration with Searle, and a broad pipeline of proprietary product candidates, Epimmune is well positioned to advance products into development and build value for its shareholders." Epimmune is a leader in the field of T-cell recognition and activation, with nearly 30 patents and more than 150 pending applications covering its proprietary EIS (1) (Executive Information System) An information system that consolidates and summarizes ongoing transactions within the organization. It provides top management with all the information it requires at all times from internal and external sources. (TM), EpiGene ep·i·gene adj. Formed, originating, or occurring on or just below the surface of the earth. [French épigène, from Greek epigen (TM) and PADRE(TM) technologies. -- The Epitope epitope: see immunity. Identification System (EIS(TM)) is Epimmune's proprietary platform that enables the identification and validation of T-cell epitopes from any protein or gene sequence. -- The EpiGene vaccine construct contains a DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. vector encoding a "designer antigen," which includes select epitope sequences from multiple antigens of the target disease. EpiGene vaccines are designed to elicit a broad array of conserved helper and cytotoxic T-cells to seek out and destroy diseased cells. -- PADRE is a family of proprietary molecules that are potent, synthetic, "universal" T-helper epitopes. When combined with antigens, PADRE induces important "co-stimulatory" signals which potentiate po·ten·ti·ate v. 1. To make potent or powerful. 2. To enhance or increase the effect of a drug. 3. To promote or strengthen a biochemical or physiological action or effect. antigen-specific immune responses. The company is applying this expertise to the development of novel vaccines for infectious diseases and cancer. In the cancer field, Epimmune is collaborating with G.D. Searle & Co., a wholly-owned subsidiary of Monsanto Co., to develop immune stimulating products for the treatment of breast, colon and lung cancer lung cancer, cancer that originates in the tissues of the lungs. Lung cancer is the leading cause of cancer death in the United States in both men and women. Like other cancers, lung cancer occurs after repeated insults to the genetic material of the cell. . Epimmune is also pursuing development of therapeutic vaccines for hepatitis B Hepatitis B Definition Hepatitis B is a potentially serious form of liver inflammation due to infection by the hepatitis B virus (HBV). It occurs in both rapidly developing (acute) and long-lasting (chronic) forms, and is one of the most common chronic , hepatitis C Hepatitis C Definition Hepatitis C is a form of liver inflammation that causes primarily a long-lasting (chronic) disease. Acute (newly developed) hepatitis C is rarely observed as the early disease is generally quite mild. and HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. , and prophylactic vaccines for hepatitis C, HIV and malaria. For more information please visit our Web site at www.epimmune.com. This press release includes forward-looking statements that reflect management's current views of future events. Actual results may differ materially from the above forward-looking statements due to a number of important factors, including but not limited to the risks associated with the enforcement of patent rights, the Company's ability to develop vaccines using epitopes, the achievement of research and development objectives by the Company and any collaborator, the timing and cost of conducting human clinical trials, the regulatory approval process, and the possibility that testing may reveal undesirable and unintended side effects or other characteristics that may prevent or limit the commercial use of proposed products. These factors are more fully discussed in Cytel's most recent Forms 10-K and 10-Q. |
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