NewsAdvanced Proteome Therapeutics Announces Achievement of a Milestone
VANCOUVER, BRITISH COLUMBIA, May 02, 2008 (MARKET WIRE via COMTEX News Network) --
Advanced Proteome Therapeutics Inc. - (APT), a subsidiary of Advanced Proteome Therapeutics Corporation (TSX VENTURE: APC) is pleased to announce the achievement of a significant milestone. Application of its kinetic labeling library technology has led to the development of chemical methods that enable the site-selective attachment of entities to human growth hormone, an established protein therapeutic. The methodology would thus far appear to be a general way of linking entities to proteins that can be used to modify their properties and lead to new, improved therapeutics.
This discovery provides examples of molecules that are capable of selectively attaching to a natural protein. Selective attachment of polymers, such as polyethylene glycol (PEG) has been shown to enhance the therapeutic properties of several proteins and dominate markets, since they represent superior versions of the corresponding unpegylated proteins. However, it has been difficult to modify natural proteins chemically without producing complex mixtures that would complicate drug development. Unlike other methods, APT's site-selective technology does not require altering the protein from its natural state to enable site-selective attachments, which APT believes represents a competitive advantage.
Alexander (Allen) Krantz, President and CEO of APT, stated that, "These discoveries involving site-selective labeling of a challenging target, human growth hormone, and the characterization of sites of attachment, represent what we believe to be a significant advance in the field of protein modification and attachment strategies. Our technology provides a basis for functional mapping of proteins for commercially valuable sites of attachment and for the development of novel drugs, and sets the stage for business development based on these advances."
About APT and APC
APC's primary corporate mission is to apply its proprietary drug delivery and drug redevelopment technologies to produce new, improved versions of therapeutic proteins and pioneer the emerging field of protein-site targeting by discovering valuable targetable sites on the surface of proteins. The market for diagnostics and therapeutic proteins and peptides is expected to surpass more than 50 Billion USD by the year 2010 and is the fastest growing segment of the pharmaceutical market. Future growth however depends largely on the industry overcoming a number of hurdles, including drug and site delivery challenges that APT is addressing.
Except for historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Factors that might cause a difference include, but are not limited to, those relating to the possibility of our products infringing patents and other intellectual property of third parties, and costs of product development. APT nor Atreus will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect APT's financial results is included in the documents APT files from time to time with the Securities and Exchange Commission and Canadian securities regulatory authorities including APT's Registration Statement on Form F-10.
The forward-looking statements contained in this news release involve risks and uncertainties, and are subject to change based on various important factors including timely development and acceptance of new products, gaining product approval, successful entry into new markets, changes in financing conditions, and changes in FDA regulations.
Contacts: Encompass Communications Inc. (604) 630-0770 or Toll Free: 1-877-566-6592
SOURCE: Advanced Proteome Therapeutics Corporation
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