Techniclone Completes Exclusive Worldwide License Transaction for Permeability
Enhancing Protein and Announces Issuance of Patent
TUSTIN, Calif.--(BUSINESS WIRE)--February 15, 2000--Techniclone Corporation
(NASDAQ:TCLN) today announced it has completed an exclusive worldwide licensing transaction
with the University of Southern California for its Permeability Enhancing Protein (PEP). The
Company also disclosed that US Patent No. 6008319 was issued for this protein and will become
part of Techniclone's intellectual property under the terms of the licensing agreement. The terms of
the licensing agreement were not disclosed.
The PEP technology is a vital piece of Techniclone's Vasopermeability Enhancing Technology which
is designed to increase the uptake of chemotherapeutic agents into tumors. It is designed to be used
in conjunction with Techniclone's Vasopermeation Enhancement Agent (VEA) technology platform.
Techniclone recently announced the issuance of a key patent in the VEA area. Alan Epstein, M.D.,
Ph.D, Professor of Pathology at the University of Southern California and the inventor of both the
VEA technology and the discoverer along with colleague Dr. Leslie Kwhali, of the PEP molecule,
stated, "The PEP technology in conjunction with the overall VEA platform technology completes an
already strong package with high potential for application in the field of cancer therapeutics and
diagnostics. I am excited about working with the new Techniclone management to bring this
technology to commercialization."
The PEP molecule is a segment of a cytokine (cell messenger) called IL-2. The PEP molecule
appears to allow the tumor to become more permeable to the uptake of drugs while not having toxic
side-effects. The PEP patent covers the use of the molecule in conjunction with targeting molecules
such as antibodies to specifically enhance the uptake of drugs in most solid tumors. Preclinical
studies in animal models have shown that drug uptake can be increased up to 400% in specific
instances by using the VEA technology (including the PEP molecule) as a pretreatment.
Dr. John Bonfiglio, Techniclone's Interim President, stated, "The completion of the licensing deal and
the issuance of the PEP patent are the last key pieces to the VEA technology platform. Techniclone
has now complete access to this powerful and broad platform technology. This technology fits very
well into the drug development efforts of many pharmaceutical companies. We look forward to
working with Dr. Epstein and his research group to develop this technology further while we
simultaneously advance discussions on licensing this technology to companies in the cancer
therapeutics area who are interested in delivering more drug to the tumor with potentially fewer side
effects."
The New England Research Application Center (Source: Geriann P. Park and Anna Crull, "Cancer
Treatment and Diagnostic Products," report YC-047N) estimates that $7.6 billion will be spent
annually on chemotherapeutic treatments in the year 2000, reflecting a 9% annual growth rate - a
market Techniclone will target with its proprietary and patent-protected technology.
All preclinical studies for the VEA technology were conducted at the University of Southern
California (USC), under the leadership of Dr. Alan Epstein, M.D., Ph.D., the inventor of the VEA
technology. Results of the Dr. Epstein's preclinical studies in the VEA technology have been
corroborated by two physicians at Keio University in Tokyo, Japan. These researchers achieved
similar increases in tumor uptake of anti-cancer agents through pretreatment with the
Vasopermeation Enhancement concept. Findings of this study, which was conducted independently
from Techniclone, were presented in 1997 at the Annual Society of Nuclear Medicine Meeting.
Company Overview: Techniclone Corporation is a biopharmaceutical company focused on the
development, commercialization and licensing of unique technologies for the treatment of cancer,
primarily based on its "collateral targeting technologies." These technologies therapeutically target
cell structures and cell types, rather than surface cancer cells, as a means to attack solid tumors,
without causing damage to surrounding healthy tissue. The Company has three collateral
technologies: Cotara(TM), Vasopermeation Enhancement Agents (VEA) , and Vascular Targeting
Agents (VTA). The Company also has a direct tumor targeting agent called Oncolym (R) for the
treatment of advanced non-Hodgkin's B-cell Lymphoma which has been licensed to Schering AG,
Germany, which is now responsible for all existing and future Oncolym(R) clinical trial programs as
well as marketing. Additional information on the Company and its products can be found at
www.techniclone.com. Safe Harbor Statement: This release may contain certain forward-looking
statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Actual events or results may differ from the Company's expectations as a
result of risk factors discussed in Techniclone's reports on file with the U.S. Securities and Exchange
Commission, including, but not limited to, the Company's report on Form 10K for the year ended
April 30, 1999 and Form 10Q for the quarter ended October 31, 1999.
CONTACT: DeMonte Associates
Cynthia DeMonte
212-420-0088 |
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