DRAXIS Commences Phase I Clinical Study For AMISCAN.Business Editors MISSISSAUGA, ONTARIO--(BUSINESS WIRE)--July 11, 2000 (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 :DRAX) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :DAX.) DRAXIS Health Inc. (TSE: DAX; NASDAQ: DRAX) today announced that its radiopharmaceutical subsidiary DRAXIMAGE has received permission from the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. and TPP TPP thiamine pyrophosphate. Thiamine pyrophosphate (TPP) The coenzyme containing thiamine that is essential in converting glucose to energy. Mentioned in: Beriberi TPP 1. total plasma protein. 2. to initiate a Phase I clinical study for AMISCAN(R), used for the early detection of heart attack. AMISCAN, a Technetium-99m labelled derivative of D-glucaric acid, is a promising new agent for the imaging of acute myocardial infarct (AMI) or heart attack. It has been the subject of a number of human clinical studies to establish its efficacy for imaging AMI, including a recent study of 28 patients conducted by Dr. Giuliano Mariani et al at the University of Genoa Located in Liguria on the Italian Riviera, the university was founded in 1471. It currently has about 40,000 students, 1,800 teaching and research staff and about 1,580 administrative staff. and Dr. William Strauss and others at the Massachusetts General Hospital Massachusetts General Hospital Health care The major teaching hospital for Harvard Medical School, widely regarded as one of the best health care centers in the world . As reported in the November 1999 issue of the Journal of Nuclear Medicine, Drs. Mariani and Strauss concluded that AMISCAN can be used to identify and localize AMI both early and accurately. Dr. Martin Barkin, President and CEO of DRAXIS Health stated, "AMISCAN represents an exciting development in the fight against coronary heart disease coronary heart disease: see coronary artery disease. coronary heart disease or ischemic heart disease Progressive reduction of blood supply to the heart muscle due to narrowing or blocking of a coronary artery (see atherosclerosis). , the leading cause of deaths in American men and women. We are pleased, therefore, to report the commencement of clinical trials for AMISCAN. This study will involve ten patients and will be conducted by Dr. Raymond Taillefer of the Centre Hospitalier de l'Universite de Montreal - Hotel Dieu Campus." Dr. Barkin continued, "In North America there are over 5 million cases of suspected myocardial infarct every year, of which approximately 20% are equivocal or difficult to diagnose. In 1999 the American Hospital Association American Hospital Association (AHA), n.pr a nonprofit national organization of individuals, institutions, and organizations engaged in direct patient care. The association works to promote the improvement of health care services. reported (JAMA JAMA abbr. Journal of the American Medical Association , Vol 282, No 23, 1999) that nuclear imaging could help physicians determine whether patients with suspected acute cardiac ischemia have normal cardiac blood flow and may safely be sent home rather than admitted to hospital. AMISCAN should permit the rapid evaluation of such cases and should be the first agent to render a positive image of the size and location of the heart attack." AMISCAN was developed in conjunction with Molecular Targeting Technology Inc., (MTTI) based in West Chester, Pennsylvania The Borough of West Chester is the county seat of Chester County, Pennsylvania.GR6 Philadelphia is 25 miles to the east and Wilmington 17 miles to the south. . Dr. Chris Pak, President of MTTI, commented, "Through its unique ability to provide an early diagnosis, AMISCAN will be a powerful and cost effective tool in the management of heart attacks." DRAXIMAGE, based in Kirkland Quebec, is Canada's leading manufacturer of radiopharmaceuticals and its products are available in many countries around the world. DRAXIMAGE specializes in the discovery, development, manufacturing and marketing of diagnostic and therapeutic products for use in Nuclear Medicine and Oncology. DRAXIMAGE has developed and built a fully robotic assembly line for BrachySeed(TM) which will enable the company to supply the rapidly growing North American demand for brachytherapy implants. Fibrimage(R), the Company's diagnostic agent for deep vein thrombosis A blood clot (thrombos) in a vein deep within the muscle, typically in the thigh or calf. It is caused by disease or the lack of activity such as sitting for hours at a computer screen. is undergoing Phase III clinical trials in Canada. DRAXIS Health Inc. is a diversified speciality pharmaceutical company operating in three niche markets: Radiopharmaceuticals (DRAXIMAGE), Canadian sales and marketing (DRAXIS Pharmaceutica) and Companion Animal Health (through its global alliance with Pfizer Inc.). DRAXIS supports its own as well as third party manufacturing requirements through its subsidiary, DRAXIS Pharma, located in Kirkland, Quebec. Except for historical information, this news release contains certain forward-looking statements that involve risk and uncertainties, which may cause actual results to differ materially from the statements made. Such factors include, but are not limited to, changing market conditions, clinical trial results, the establishment of new corporate alliances, the impact of competitive products and pricing, the timely development, regulatory approval and market acceptance of the Company's products, and other risks detailed from time-to-time in the Company's filings with the US Securities and Exchange Commission and Canadian securities authorities. |
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