WALTHAM, Mass., June 7 /PRNewswire-FirstCall/ --
AltaRex Corp. (Toronto: AXO, OTC: ALXFF.PK) announced today that it received
notice of intent to grant of a "multi-epitopic" patent applicable to its lead
product OvaRex(R) MAb (oregovomab) from the European Patent Office (EPO). The
"multi-epitopic" patent is a cornerstone of the Company's intellectual
property holdings, and corresponds to a previously issued patent (effective
June 5, 2001) by the U.S. Patent and Trademark Office. With the EPO's notice
of intent to grant the "multi-epitopic" patent for the European Union (EU),
the Company is now able to protect OvaRex(R) in the great majority of
worldwide markets. OvaRex(R) is the Company's most advanced compound in
clinical development, being studied for the treatment of advanced ovarian
cancer. AltaRex is currently pursuing corporate partnerships for northern
European countries, having already formed joint collaborations for OvaRex(R)
development and commercialization in southern Europe, the Middle East and
certain other countries, and having licensed the rights to OvaRex(R) for North
America and other regions of the world to United Therapeutics Corporation.
(Photo: http://www.newscom.com/cgi-bin/prnh/20000831/ALTREXLOGO )
The "multi-epitopic" patent covers the Company's novel technology of
administering (intravenously) a low-dose foreign antibody (OvaRex(R) MAb) to
any patient expressing the target self antigen (CA125). While the antibody is
directed to a single epitope on the circulating cancer antigen, it activates
"multi-epitopic" immune responses unique to that patient. The cellular and
humoral immune responses elicited result in the anti-tumor effect.
"Since our recent partnership in the United States with United
Therapeutics Corporation, our partnering focus has shifted to the significant
European market," commented Richard E. Bagley, AltaRex President and CEO. "As
we enter into partnering discussions for OvaRex(R) for northern European
countries, the OvaRex(R) "multi-epitopic" patent establishes a broad
intellectual property position for the Company and, we believe, provides for
long-term market exclusivity. We expect this news will be viewed very
positively and will contribute to our efforts in Europe," continued Mr.
Bagley.
Additional information about AltaRex research and development, clinical
trials, news and events can be found on the Company website http://www.altarex.com.
This news release contains forward-looking statements that involve risks
and uncertainties, which may cause actual results to differ materially from
the statements made. For this purpose, any statements that are contained
herein that are not statements of historical fact may be deemed to be forward-
looking statements. Without limiting the foregoing, the words "believes,"
"anticipates," "plans," "intends," "expects" and similar expressions are
intended to identify forward-looking statements. Such risks and uncertainties
include, but are not limited to our need for capital; the risk that the
Company can not raise funds on a timely basis on satisfactory terms or at all;
the need to obtain and maintain corporate alliances, such as the alliance with
United Therapeutics, and the risk that the Company cannot establish corporate
alliances on a timely basis, on satisfactory terms, or at all; changing market
conditions; uncertainties regarding the timely and successful completion of
clinical trials and patient enrollment rates, uncertainty of pre-clinical,
retrospective, early and interim clinical trial results, which may not be
indicative of results that will be obtained in ongoing or future clinical
trials; whether the Company and/or its collaborators will file for regulatory
approval on a timely basis; uncertainties as to when, if at all, the FDA will
accept or approve regulatory filings for the Company's products; the need to
establish and scale-up manufacturing processes, uncertainty as to the timely
development and market acceptance of the Company's products; the risk that the
claims allowed under any issued patent owned or licensed by the Company,
including the patents referred to above, will not be sufficiently broad to
protect the Company's technology, that any patents issued to the Company will
not be sustained if challenged in court proceedings or otherwise or that third
parties will be able to develop products or processes that do not infringe
valid patents owned or licensed by the Company, and other risks detailed from
time-to-time in the Company's filings with the United States Securities and
Exchange Commission and Canadian securities authorities. The Company does not
assume any obligation to update any forward-looking statement.
THE TORONTO STOCK EXCHANGE HAS NOT APPROVED OR DISAPPROVED OF THE
INFORMATION CONTAINED HEREIN
SOURCE AltaRex Corp.
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Related links:
http://www.altarex.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20000831/ALTREXLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 212-782-2840
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/128163.html
CONTACT:
Sondra Henrichon, Investor Relations of
AltaRex, +1-781-672-0138, ext. 1510, shenrichon@altarex.com
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