Cortecs International enters into second R & D Syndication agreement in Australia.LONDON--(BUSINESS WIRE)--Dec. 12, 1994--Cortecs International (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/ASX: CRI/LSE: SEAQ SEAQ See: Stock Exchange Automated Quotation System Domestic) announced today that it has arranged a second R & D Syndication agreement in Australia for a total of 1.63 million pounds (Australian $3.25 million) over a three year period. The proceeds will be used to fund ongoing research for the company's two oral therapeutic antigens as well as a rapid diagnostic test. Cortecs retains the worldwide commercialization rights to the technologies developed by the Syndicate. This agreement follows the Dec. 1 announcement of the arrangement of a similar R & D Syndication for 0.9 million pounds (Australian $1.9 million) over a three year period to fund the company's further development of its oral therapeutic influenza vaccine influenza vaccine Flu vaccine A vaccine recommended for those at high risk for serious complications from influenza: > age 65; Pts with chronic diseases of heart, lung or kidneys, DM, immunosuppression, severe anemia, nursing home and other chronic-care , "Flustat". The aim of the R & D Syndication is to further develop Cortecs' Pseudostat oral therapeutic vaccine therapeutic vaccine Immunology A vaccine–eg, Salk's Remune™ intended to treat a viral infection by stimulating the immune system. See Vaccine therapy. . This vaccine should prevent respiratory infection with pseudomonas aeruginosa Pseudomonas aeruginosa A normal soil inhabitant and human saprophyte that may contaminate various solutions in a hospital, causing opportunistic infection in weakened Pts Clinical Infective endocarditis in IVDAs, RTIs, UTIs, bacteremia, meningitis, 'malignant' in patients with serious respiratory diseases such as cystic fibrosis cystic fibrosis (sĭs`tĭk fībrō`sĭs), inherited disorder of the exocrine glands (see gland), affecting children and young people; median survival is 25 years in females and 30 years in males. , chronic bronchitis and bronchiectasis bronchiectasis Abnormal expansion of bronchi in the lungs. It usually results when preexisting lung disease causes bronchial inflammation and obstruction. Bronchial wall fibres degenerate, and bronchi become dilated or paralyzed, preventing removal of secretions, which . Patients with these diseases are highly susceptible to infection from this bacterium which is difficult to eradicate and causes rapid deterioration of the lung function. Pseudostat has recently completed Phase I trials in healthy human volunteers and should commence Phase II trials early in 1995. The size of the market for products for the treatment of cystic fibrosis is estimated to be in excess of US$150 million. The R & D Syndicate will also contribute to development of Cortecs' Moniliastat oral therapeutic vaccine program against candida vaginitis vaginitis Inflammation of the vagina. The chief symptom is a whitish or yellowish vaginal discharge. Treatment depends on the cause: appropriate drugs for sexually transmitted diseases (often from Gardnerella bacteria or trichomonads) or yeast infections; estrogen cream for (thrush), which is currently in pre-clinical trials. It is estimated that 45 percent of all women experience thrush at some time in their life, with up to 5 percent experiencing recurrent infections and up to 3 percent suffering persistent cyclical symptoms. The condition is currently treated with anti-fungals, with an estimated potential market size for therapeutic and prophylactic use of more than $US500 million. An oral therapeutic vaccine to stimulate cell mediated immunity in women susceptible to recurrent thrush would reduce the need for repeated topical treatments. Projects for inclusion in R & D Syndicates have to be assessed by the Australian Industrial Research and Development Board and declared to be "core technologies" before they may be included in an approved R & D Syndication development program. 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 pharmaceutical delivery systems for the healthcare industry. Cortecs currently has several innovative drug delivery technologies and rapid diagnostic kits under development. The major projects include: The Oral Delivery of Biotechnology Drugs
MACROMOL a system for the oral delivery of
biotechnology drugs such as Calcitonin,
which is presently in Phase II clinical
tests.
Oral Therapeutic Antigens oral delivery of therapeutic antigens
AIMI against pseudomonas infection (in cystic
fibrosis) and influenza.
Oral Anti-Microbials without Antibiotics
ADEPT a novel system to prevent and treat
diarrhea.
Rapid Point of Care Diagnostics
HELISAL a range of diagnostic kits for the
detection of Helicobacter pylori.
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. CONTACT: Cortecs International, London
Glen Travers or Jonathan Pockson, 011 44 81 568 7071
or
Kehoe, White, Savage & Co. Inc., New York
Robert Cavosi or John P. Kehoe, 212/888-1616
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