PhytoMedical`s Anti-Cancer CompoundDevelopment Advancing After a Series of Highly Favorable Test Results
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PhytoMedical`s Cancer Research Expanding on Key Compounds That Have Demonstrated
Elevated Anti-Cancer Efficacy
PRINCETON, N.J.--(Business Wire)--
PhytoMedical Technologies, Inc. (OTCBB:PYTO) (FWB:ET6), today announced the
advancement of their anti-cancer compound research and development. The
culmination of a series of favorable test results conducted over several months
have allowed the company to justifiably expand their cancer research efforts
which includes the designing of an IV formulation of their key compound.
Cancer is the second leading cause of death in this country. In the US, cancer
accounts for 1 in every 4 deaths. About 1.4 million new cases of cancer will be
diagnosed in the United States and more than 560,000 people will die of the
disease. The National Institutes of Health estimated the costs of cancer at
$228.1 billion in 2008. In the near future it is expected that cancer costs may
increase at a faster rate than overall medical expenditures.
In mid-year 2007, PhytoMedical began their cancer research after evaluating the
unique anti-tumor work of Dr. Gordon Gribble of Dartmouth College. Shortly after
completing a Sponsored Research Agreement with Dartmouth College, PhytoMedical
initiated, across a wide array of human cancer cell lines a series of in vitro
assays designed to evaluate the anti-cancer activity of several of Dr. Gribbles
uniquely designed compounds. The favorable outcomes generated a select list of
compounds that comparatively demonstrated elevated anti-cancer activity. Based
on these test results PhytoMedical elected to acquire the worldwide licensing
rights to the existing and future anti-cancer compounds and simultaneously
increased research. As part of the expanded research the select list of
compounds were subjected to in vivo anti-cancer tests designed to evaluate their
efficacy and toxicity against colon and glioblastoma xenografts (tumors).
The researchers reviewed the data collected from these important efficacy and
toxicity tests, and surmised that PhytoMedical`s anti-cancer compound(s) may
"…have its selectivity in killing SF295 human glioblastoma cells."
Comparatively, broad anti-cancer treatments may be less effective and carry
greater risks and side-effects than compounds with the key ability to
selectively target and kill specific cancer cells -- an important consideration
for the treatment of cancers in vital organs such as the brain, where
glioblastoma is exhibited.
Glioblastoma is the most common and aggressive form of brain cancer, and is
often highly-resistant to chemotherapy and other conventional treatments,
meaning there is no current cure. Additionally, surgical removal such as
complete resection of the tumor in combination with the most current and
aggressive treatments continues to result in low survival rates. The median
survival time from the time of glioblastoma diagnosis for patients without
treatment is 3 months. Currently, as few as 1 in 20 patients will survive beyond
36 months, and only 1 in 5,000 will survive for decades.
Given the associated costs and limited successful treatment options for treating
glioblastoma, we are excited to be pursuing a selective treatment option for
this deadly disease through the expansion of our research efforts, commented
PhytoMedical, President, CEO, Greg Wujek. In order to fund our future research
efforts, Mr. Wujek noted that, the Company is continuing to explore available
financing options and in connection therewith we are reviewing potential
corporate restructurings, including, but not limited to a possible consolidation
or "reverse split" of our issued and outstanding shares of common stock, which
may assist in the facilitation of the consummation of a financing on terms and
conditions acceptable to the Company; however, Mr. Wujek further noted that the
Company does not have any agreement with respect to any potential financing and
there is no assurance, especially in the current economic climate, that any
funds will be available to the Company.
PhytoMedical`s Cancer Research: Killing Cancer`s DNA
Led by Dartmouth College researcher, Dr. Gordon Gribble, PhytoMedical is
developing a novel class of patented anti-cancer agents that have a `cytotoxic`
or poisonous affinity for cancer cells and are designed to bind more tightly to
cancer cell DNA than many conventional anticancer drugs by a process called
bis-intercalation or "double binding," much like a molecular staple. Because the
DNA is the blueprint of life for the cancer cell, such binding stops the
replication of the DNA, which prevents the growth of the cancer cell and it
dies.
DNA is present in the nucleus of every cell of all living organisms, which are
constantly dividing through a process in which the DNA in the nucleus of the
original cell replicates itself to be present in the nuclei of the two new
("daughter") cells. If this replication cannot occur, the cell will die and the
organism will eventually stop growing and die. Cancer is characterized by the
development of abnormal cells that divide uncontrollably and have the ability to
infiltrate and destroy normal body tissue.
At present, anticancer molecules designed to block the replication of DNA do so
through "intercalation," a mechanism in which the drug inserts itself between
one set of adjacent base pairs of the DNA. PhytoMedical believes a more
effective anticancer strategy is to design molecules ("bis-intercalators") that
can intercalate simultaneously at two DNA sites, thus further increasing the
binding between the drug and the DNA of specific cancer cells in order to stop
their replication and ultimately resulting in the death of the cancer cell.
About PhytoMedical Technologies, Inc.
PhytoMedical Technologies, Inc. (OTCBB:PYTO; Frankfurt Stock Exchange: ET6),
together with its wholly owned subsidiaries, is a pharmaceutical company focused
on research, development and commercialization of pharmaceutical products.
For additional information, please visit www.PhytoMedical.com
To receive future press releases via email, please: visit:
http://www.phytomedical.com/investors.php
To view the full HTML text of this release, please visit:
http://www.phytomedical.com/IR/PressReleases/20090616-1.html
Legal Notice Regarding Forward-Looking Statements
No statement herein should be considered an offer or a solicitation of an offer
for the purchase or sale of any securities. This release contains
forward-looking statements that are based upon current expectations or beliefs,
as well as a number of assumptions about future events. Although the Company
believes that the expectations reflected in the forward-looking statements and
the assumptions upon which they are based are reasonable, it can give no
assurance that such expectations and assumptions will prove to have been
correct. Forward-looking statements, which involve assumptions and describe our
future plans, strategies, and expectations, are generally identifiable by use of
the words "may," "will," "should," "could," "expect," "anticipate," "estimate,"
"believe," "intend," or "project" or the negative of these words or other
variations on these words or comparable terminology. The reader is cautioned not
to put undue reliance on these forward-looking statements, as these statements
are subject to numerous factors and uncertainties, including but not limited to
adverse economic conditions, intense competition, lack of meaningful research
results, entry of new competitors and products, adverse federal, state and local
government regulation, inadequate capital, unexpected costs and operating
deficits, increases in general and administrative costs, termination of
contracts or agreements, technological obsolescence of the Company's products,
technical problems with the Company's research and products, price increases for
supplies and components, litigation and administrative proceedings involving the
Company, the possible acquisition of new businesses or technologies that result
in operating losses or that do not perform as anticipated, unanticipated losses,
the possible fluctuation and volatility of the Company's operating results,
financial condition and stock price, losses incurred in litigating and settling
cases, dilution in the Company's ownership of its business, adverse publicity
and news coverage, inability to carry out research, development and
commercialization plans, loss or retirement of key executives and research
scientists, changes in interest rates, inflationary factors, and other specific
risks. We currently have no commercial products intended to diagnose, treat,
prevent or cure any disease. The statements contained in this press release
regarding our on going research and development and the results attained by us
to-date have not been evaluated by the Food and Drug Administration. There can
be no assurance that further research and development, and /or whether clinical
trial results, if any, will validate and support the results of our preliminary
research and studies. Further, there can be no assurance that the necessary
regulatory approvals will be obtained or that PhytoMedical will be able to
develop commercially viable products on the basis of its technologies. In
addition, other factors that could cause actual results to differ materially are
discussed in the Company's most recent Form 10-QSB and Form 10-KSB filings with
the Securities and Exchange Commission. These reports and filings may be
inspected and copied at the Public Reference Room maintained by the U.S.
Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549.
You can obtain information about operation of the Public Reference Room by
calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S.
Securities & Exchange Commission also maintains an Internet site that contains
reports, proxy and information statements, and other information regarding
issuers that file electronically with the U.S. Securities & Exchange Commission
at http://www.sec.gov. The Company undertakes no obligation to publicly release
the results of any revisions to these forward looking statements that may be
made to reflect the events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.
PhytoMedical Technologies, Inc.
Ms. Briana Erickson, 800-611-3388
www.PhytoMedical.com
Copyright Business Wire 2009
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