Cortecs/Astra Helisal Relationship Progresses; New Agreement For "One Step" Announced.LONDON--(HealthWire)--July 21, 1997--Cortecs International ("Cortecs") (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DLVRY / LSE LSE - Language Sensitive Editor :COR / ASX ASX See: Australian Stock Exchange :CRI CRI constant-rate infusion. ) the U.K. based pharmaceutical company, today announced that they have signed a new agreement with Astra to create visibility in 33 countries (excluding Japan and the U.S.) for Cortecs' Helisal(TM) "One Step" diagnostic kit for the detection of the bacterium Helicobacter pylori Helicobacter pylori A gramnegative rod-shaped bacterium that lives in the tissues of the stomach and causes inflammation of the stomach lining. Mentioned in: Indigestion, Ulcers Helicobacter pylori ("H. pylori"). The new agreement runs until December 31, 1999. The agreement, which is an extension to the current agreement on Helisal(TM) Rapid Blood will automatically renew annually thereafter unless terminated by either party. Under the new agreement, Astra will use the Helisal(TM) "One Step" at gastrointestinal meetings. Astra will also include information about the product in its ongoing medical education programs about H. Pylori and eradication therapy for the bacterium. H. pylori is the main cause of peptic ulcers Peptic ulcers Wounds in the stomach and duodenum caused by stomach acid and the bacterium Helicobacter pylori. Mentioned in: Tube Compression of the Esophagus and Stomach and gastritis and is linked with gastric cancer gastric cancer Stomach cancer, see there . Cortecs' Helisal(TM) "One Step" is a small and completely self-contained test. A simple finger pricking device is provided to produce a bead of blood from the finger. The Helisal(TM) "One Step" blood collection "comb device" is then used to draw a measured 50 milliliters of blood from the finger, held in place by surface tension. The comb is then pushed into the body of the device and snapped and locked shut. The results of the test are displayed in a window in the body within minutes in an easy to read format. Because it is sealed on closing, the test cannot be interrupted accidentally and can be disposed of safely without need for specialized disposal facilities. John Curtis, Managing Director of Cortecs Diagnostics, commented: "Astra's education program in the U.K. and Europe for our first H. pylori rapid test, Helisal(TM) Rapid Blood, has been very important in promoting the medical advantages of rapid and simple diagnosis for H. pylori. Cortecs' rapid point of care tests enable doctors to diagnose H. pylori infection within minutes. Diagnosis followed by eradication therapy for those appropriate to treat is now recognized as being best medical practice for managing H pylori H pylori Helicobacter pylori, see there related gastro-duodenal disease and was recently confirmed as such by the Food and Drug Administration in the U.S." Cortecs is a British-based company quoted on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. , the Australian Stock Exchange Australian Stock Exchange (ASX) Australia's major securities market, formed when the six state stock exchanges (Adelaide, Brisbane, Hobart, Melbourne, Perth, and Sydney stock exchanges) were merged in 1987. and on Nasdaq. The Company specializes in the development of new oral pharmaceutical delivery systems, new oral mucosal vaccines and point-of-care rapid diagnostics which provide the opportunity to advance the management of serious diseases such as: OSTEOPOROSIS Macritonin(TM) - An oral calcitonin calcitonin /cal·ci·to·nin/ (-to´nin) a polypeptide hormone secreted by C cells of the thyroid gland, and sometimes of the thymus and parathyroids, which lowers calcium and phosphate concentration in plasma and inhibits bone resorption. therapy for the prevention of bone breakdown. Analysis of European Phase III trial nearing completion. Osteosal(TM) - A rapid doctors' office test to detect increased bone breakdown indicating the risk of osteoporosis and also to monitor the adequacy of osteoporosis therapy in late stage development. DIABETES Macrulin(TM) - An oral formulation of insulin. Preparing for European Phase II trials. Glycosal(TM) - Rapid doctors' office tests in clinical development to assist in the management and identification of diabetes. Neurulin - A topical product to treat diabetic neuropathy Diabetic Neuropathy Definition Diabetic neuropathy is a nerve disorder caused by diabetes mellitus. Diabetic neuropathy may be diffuse, affecting several parts of the body, or focal, affecting a specific nerve and part of the body. . In Phase II trials. INFECTIOUS DISEASE Pseudostat(TM) - Oral therapeutic vaccines to prevent and treat lung infection with Pseudomonas aeruginosa in cystic fibrosis and chronic bronchitis. In Phase II trials. INFLUENZA H. PYLORI Flustat(TM) - An oral vaccine against influenza in Phase I trials. Helisal(TM) - A rapid doctors' office whole blood test for the detection of H. pylori. Launched. A 'One-step' whole blood test for H. pylori. Launched in the UK. Further rapid tests in development including test for the coccoid coccoid resembling a coccus. form of H. pylori. Ulsastat(TM) - Oral therapeutic vaccine in pre-clinical development to stimulate immunity against H. pylori. CANCER Cellcom - A novel class of molecules to inhibit signaling pathways within cancer cells and to control their unrelenting growth. In pre-clinical development. Cortecs also markets a range of ethical and OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). medicines and diagnostic products in the UK. "Safe Harbor" Statement under the US 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: Some or all of the statements in this document that relate to future plans, expectations, events, performances and the like are forward-looking statements, as defined in the US Private Securities Litigation Reform Act of 1995. Actual results of events could differ materially from those described in the forward looking statements due to a variety of factors, including those set forth in the Company's filings with the US Securities and Exchange Commission. Press releases and other Cortecs International information are available on the Cortecs International web site: http://www.cortecs.com. CONTACT: Dr. Michael Flynn, President, Cortecs International 011-44-181-847-2013 John P. Kehoe/Van Negris Kehoe, White, Savage & Company, Inc (212) 888-1616 John Barrington-Carver, External Affairs Cortecs International 011-44-181-758-0505 Zena Bates/Lisa Baderoon Dr. Geoffrey Brandon Buchanan Communications Brandon Harris 011-44-171-489-1441 011-44-171-407-6854 |
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