PDT Inc. Changes Name to Miravant Medical Technologies; Nasdaq Ticker Symbol to Become MRVT on Sept. 16th.SANTA BARBARA Santa Barbara (săn'tə bär`brə, –bərə), city (1990 pop. 85,571), seat of Santa Barbara co., S Calif., on the Pacific Ocean; inc. 1850. , Calif.--(BW HealthWire)--Sept. 15, 1997--PDT Inc. (Nasdaq:PDTI) Monday announced that its name is now Miravant Medical Technologies (Nasdaq:MRVT MRVT Materiel Release Verification Test ). All addresses and phone numbers remain unchanged except the Web site, which is www.miravant.com, and the Nasdaq ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors , which becomes MRVT at market open on Sept. 16th. ``The name Miravant is derived from the Latin root miracula (miraculous) and the French avant (in front of) -- in front of the miracle,'' stated Gary S. Kledzik, Ph.D., chairman and chief executive officer of Miravant. ``From our founding in 1989, we have dedicated ourselves to creating an advanced form of photoselective medicine.'' Miravant is branding its proprietary photoselective procedures and products as PhotoPoint. PhotoPoint, now in clinical trials, uses light-activated drugs to selectively destroy diseased cells and tissues, and is being developed for a broad range of disease applications. ``By working aggressively with our corporate partners to create a sharply focused brand identity among the medical and patient community, we intend to make PhotoPoint synonymous with synonymous with adjective equivalent to, the same as, identical to, similar to, identified with, equal to, tantamount to, interchangeable with, one and the same as the highest standard of control in photoselective procedures,'' added Kledzik. Miravant is a leader in developing both pharmaceuticals and devices for photodynamic therapy photodynamic therapy n. A type of phototherapy in which a nontoxic light-sensitive compound that has been injected into a patient is exposed selectively to light, whereupon it becomes toxic to targeted malignant and other diseased cells. , a medical procedure using light- activated drugs to selectively destroy diseased cells and tissues. The company is pursuing PhotoPoint applications in a number of medical specialties, including oncology, urology urology Medical specialty dealing with the urinary system and male reproductive organs. It traces its origin to medieval lithologists, itinerant healers who specialized in surgical removal of bladder stones. , dermatology, ophthalmology, cardiology and gynecology. Over the last several years, Miravant has established strategic collaborative relationships with select corporations, including Pharmacia & Upjohn; Boston Scientific Corp.; Ramus ramus /ra·mus/ (ra´mus) pl. ra´mi [L.] a branch, as of a nerve, vein, or artery. ramus articula´ris Medical Technologies; Cordis, a Johnson & Johnson company; and Iris Medical Corp. -0- Except for the historical information contained herein, the matters discussed in this news release are deemed forward-looking statements under federal securities laws that involve risks and uncertainties. Actual results may differ materially from those in the forward-looking statements depending on a number of factors, including, among other things, the ability to maintain long-term relationships with corporate partners, the ability to bring products to market through the regulatory-approval process, uncertainty of future profitability, financing requirements and other factors detailed from time to time in the company's Securities and Exchange Commission reports, including its report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended Dec. 31, 1996. CONTACT: Miravant Medical Technologies, Santa Barbara Nick Kormeluk or Laurens Lichty, 805/685-9880 |
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