Xytronyx Inc. announces letter of intent regarding option to purchase Binary Therapeutics Inc.SAN DIEGO--(BUSINESS WIRE)--March 6, 1996--Xytronyx Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :XYX) Wednesday announced that it has entered into a letter of intent defining the general terms under which it expects to acquire an option to purchase Binary Therapeutics Inc., a Massachusetts-based company. Xytronyx anticipates finalizing a definitive option agreement within approximately one month subject to approval by the shareholders of Binary Therapeutics. Binary Therapeutics hold certain proprietary technologies in the area of 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. (PDT PDT abbr. Pacific Daylight Time PDT Pacific Daylight Time PDT n abbr (US) (= Pacific Daylight Time) → hora de verano del Pacífico PDT ) and boron neutron capture therapy boron neutron capture therapy n. A treatment for cancers, especially virulent ones of the brain, in which a person who has been injected with a boron compound that concentrates in cancerous cells is exposed to neutron irradiation causing the boron (BNCT BNCT Boron Neutron Capture Therapy ), both of which are expected to rely upon the combined use of a drug compound and an energy source to treat certain cancers. Under the proposed terms of the option agreement, Xytronyx will assist Binary Therapeutics with certain product development efforts and in exchange will receive a one-year option to acquire Binary Therapeutics. Xytronyx indicated that any additional information relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the terms of the option will be disclosed after completion of the final option agreement. Larry Bymaster, Xytronyx chairman, stated that "we are pleased to have initiated a relationship with Binary Therapeutics and look forward to participating in this opportunity." Dr. Joseph Chang, the chief executive officer of Binary Therapeutics, stated that the company "expects this collaboration to accelerate our progress in bringing these important therapies to market." CONTACT: Xytronyx Inc. Dale A. Sander/Larry Bymaster, 619/550-3900 |
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