Forbes Medi-Tech Corporate Strategic Direction Update.VANCOUVER, British Columbia--(BUSINESS WIRE)--March 11, 1997-- Forbes Medi-Tech Inc (VSE See DOS/VSE. VSE - Virtual Storage Extended : FMI FMI Fondo Monetario Internacional (Spanish: International Monetary Fund) FMI Fonds Monétaire International FMI For More Information FMI Food Marketing Institute FMI Fundo Monetário Internacional .) Following the review of scientific, clinical and market data at the Company's 1997 annual scientific and business meeting, the Company's medical advisory board and management endorsed the continuation of the Company's strategic direction in the following areas: 1. Continue to aggressively pursue the upscaling and commercialization of Androstenedione androstenedione /an·dro·stene·di·one/ (-di-on) an androgenic steroid produced by the testis, adrenal cortex, and ovary; converted metabolically to testosterone and other androgens. (AD). Further the development and enhancement of the Company's current technology to produce additional steroid precursors and "higher value" products such as cortisone cortisone (kôr`tĭsōn'), steroid hormone whose main physiological effect is on carbohydrate metabolism. It is synthesized from cholesterol in the outer layer, or cortex, of the adrenal gland under the stimulation of adrenocorticotropic , progesterone progesterone (prōjĕs`tərōn'), female sex hormone that induces secretory changes in the lining of the uterus essential for successful implantation of a fertilized egg. , etc. from AD. 2. Continue to aggressively pursue the development of CARDIOREX (FCP-3P1) as a prescription antihyperlipidemic agent and explore its role in both prevention and treatment of atherosclerosis atherosclerosis (ăth'ərōsklərō`sĭs): see arteriosclerosis. atherosclerosis or hardening of the arteries , together with possibilities of plaque regression. In addition, following the review of the effectiveness and safety of the Company's phytosterol compositions in favourably reducing cholesterol levels, and the market potential associated with "food supplements", management, with input from the medical advisory board, has decided to pursue opportunities in the "Consumer Health" sector of the market for its phytosterols as "food supplements" in products such as margarine, salad dressings, mayonnaise and other fatty foods. In order to pursue this opportunity, the Company is preparing to start a human study at McGill University McGill University, at Montreal, Que., Canada; coeducational; chartered 1821, opened 1829. It was named for James McGill, who left a bequest to establish it. Its real development dates from 1855 when John W. Dawson became principal. to investigate the effectiveness of the Company's phytosterol composition in food products. This study will be conducted by a research team under the direction of Professor Peter Jones and is expected to enroll approximately 40 hyperlipidemic patients (i.e. patients with high cholesterol Cholesterol, High Definition Cholesterol is a fatty substance found in animal tissue and is an important component to the human body. It is manufactured in the liver and carried throughout the body in the bloodstream. levels). So as not to dilute its focus and strength in the prescription health care market sector with these new initiatives, the Company will be seeking an alliance with a major food company whereby the food company would provide expertise and resources to develop and market these products on a world wide basis. "Our additional initiative to develop a healthy line of food products appears very promising," said Jack Miller, Forbes' Vice President, Business Development. "With increasingly health conscious consumers, the market for such natural source, safe and effective products is expected to significantly increase in the coming years, " added Mr. Miller. FORBES MEDI-TECH INC. is a bio-technology Company involved in the research and development of valuable pharmaceutical products from the by-products of the pulp and forest industry. In addition to actively researching forest-derived phytosterols for the use as cholesterol lowering agents, the Company is devoting its efforts to the production and commercialization of Androstenedione, a starting material used for the manufacture of various pharmaceutical steroid drugs, and other "higher value" steroid products. ON BEHALF OF THE BOARD OF DIRECTORS OF FORBES MEDI-TECH INC. Tazdin Esmail, President The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. The statements made in this News Release may contain certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company. CONTACT: Forbes Medi-Tech Inc. Don Lay, 604/681-8976 |
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