Advanced Proteome Therapeutics Corporation Announces Advances in Technology in 3rd Quarter Filing, Grants Stock
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VANCOUVER, BRITISH COLUMBIA, Jun 26 (MARKET WIRE) --
Advanced Proteome Therapeutics Corporation (TSX VENTURE: APC) (the
"Corporation" or "APC") announces that it has granted stock options to
one employee and two consultants to purchase up to an aggregate of
250,000 common shares of the Corporation, exercisable at a price of $0.30
per share for ten years, subject to regulatory approval. The options will
be subject to a four month hold period and are granted in accordance with
the Corporation's Stock Option Plan and the vesting provisions contained
therein.
The Corporation filed its interim financial statements together with
related management's discussion and analysis for the nine month period
ended April 30, 2009 with the British Columbia and Alberta Securities
Commissions on June 25, 2009, which are available for viewing on
www.sedar.com. Highlights of the Corporation's report include reference
to its subsidiary, Advanced Proteome Therapeutics Inc. (APTI), which in
conjunction with its partner, Atreus Pharmaceuticals Corporation of
Ottawa, Canada, advanced into development a conjugate between
1,4,7-triazacyclononane-1,4,7-triacetic acid (NOTA) and recombinant human
annexin V. This entity is undergoing testing in a number of institutions
for its potential as a diagnostic imaging agent. The NOTA-annexin V
conjugate is a potential in vivo imaging biomarker that will be evaluated
for response to therapy of anti-inflammatory diseases and cancer on a
patient-by-patient basis.
Advances in proprietary technology have enabled the generation of three
additional conjugates that are of interest as potential diagnostic
imaging agents as well as a number of other commercially attractive
prospects which are the subject of filings for patent applications. APTI
believes its linkage technologies can provide entry to diverse areas of
commercial interest that hitherto have not been readily accessible to
strategies that are designed to modify proteins chemically.
The Corporation further announces that it has terminated, effective June
1, 2009, the Investor Relations Agreement dated June 1, 2007 wherein
Encompass Communications Inc. of Vancouver, British Columbia, was engaged
to provide investor relations services to the Corporation. The
Corporation is thankful for the services they have provided.
About Advanced Proteome Therapeutics Corporation:
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 for commercially relevant applications. The market for
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 delivery
challenges.
ON BEHALF OF THE BOARD
Alexander (Allen) Krantz, President and Chief Executive Officer
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Contacts:
Advanced Proteome Therapeutics Corporation
Alexander (Allen) Krantz
President and Chief Executive Officer
(617) 638 0340
Advanced Proteome Therapeutics Corporation
1-800 APT-1169
admin@advancedproteome.com
Copyright 2009, Market Wire, All rights reserved.
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