Access Pharmaceuticals Demonstrates Ability to Significantly Reduce Glucose
Levels in Pre-clinical Testing of Cobalamin(TM) Oral Insulin
DALLAS, Dec. 7 /PRNewswire-FirstCall/ -- Access Pharmaceuticals, Inc.
(OTC Bulletin Board: ACCP) announced today that it has demonstrated the
ability, using the company's proprietary Cobalamin(TM) technology, to
significantly reduce glucose levels in an animal model of diabetes, through
its oral insulin product candidate. Several formulations using Cobalamin,
which is based upon the body's natural absorption of vitamin B12 in the
gastrointestinal tract, were tested in an animal model of diabetes. Additional
pre-clinical studies are planned.
Access has patents and formulations based on vitamin B12 attachment to
polymers and nanoparticles which carry an attached or encapsulated drug. The
vitamin B12 absorption mechanism transfers the macrostructure from the gut to
blood, facilitating the absorption of drugs that otherwise could not be
delivered orally. Access' Cobalamin(TM) technology has the potential to enable
and improve oral bioavailability of active drugs which currently have to be
administered by injection, including proteins, antibodies and siRNA.
"While Access already has proof-of-principle data using this technology
with a variety of proteins and peptides, we are delighted to have attained
preclinical study results which indicate that a meaningful pharmacological
effect can be achieved," stated Dr. David P. Nowotnik, Access' Senior Vice
President, Research and Development. "As a result of this very promising
result, we plan to complete a short series of formulation optimization studies
and then to select a clinical development candidate."
Access intends to develop the Cobalamin(TM) oral delivery technology in
collaboration with other pharmaceutical and biotechnology companies. Access
has in the past and continues to conduct sponsored research programs with
leading pharmaceutical companies based on its Cobalamin technology. The
company is also actively seeking additional partners for both its oral insulin
and other potential programs.
"While the primary focus of our company remains the development of
products for the treatment and supportive care of cancer patients, we are
excited by these promising results in an animal model," added Stephen R.
Seiler, Access' President and CEO. "In addition to providing a potential oral
delivery option for insulin which would be attractive to a large number of
pharmaceutical companies and which we would develop in partnership with a
collaborator, we believe that our Cobalamin technology has applicability to a
variety of cancer products, such as LHRH which are part of our developing
cancer and supportive care franchise."
About Access:
Access Pharmaceuticals, Inc. is an emerging biopharmaceutical company that
develops and commercializes propriety products for the treatment and
supportive care of cancer patients. Access' products include ProLindac(TM),
currently in Phase 2 clinical testing of patients with ovarian cancer and
MuGard(TM) for the management of patients with mucositis. The company also has
other advanced drug delivery technologies including Cobalamin(TM)-mediated
targeted delivery and oral drug delivery. Access has announced the execution
of a definitive merger agreement to acquire Somanta. The acquisition of
Somanta has not yet closed and the closing is subject to numerous closing
conditions. For additional information on Access Pharmaceuticals, please
visit our website at http://www.accesspharma.com .
This press release contains certain statements that are forward-looking
within the meaning of Section 27a of the Securities Act of 1933, as amended,
and that involve risks and uncertainties. These statements include those
relating to: early results from our clinical trial, Cobalamin's activity in
pre-clinical models, Cobalamin's potential to enable and improve oral
bioavailability of active drugs, our plans to develop Cobalamin in
collaboration with a partner, Cobalamin's applicability to a variety of cancer
products , Access' plans to continue and initiate clinical trials, the value
of our products in the market, our ability to achieve clinical and commercial
success, our ability to successfully develop marketed products and our ability
to obtain or meet the closing conditions in the merger agreement with Somanta
Pharmaceuticals, Inc. and applicable regulatory and tax requirements, and to
otherwise complete the merger in a timely manner, yet there can be no
assurances that the closing conditions will be met or waived or that the
transaction will close. These statements are subject to numerous risks,
including but not limited Access' need to obtain additional financing in order
to continue the clinical trial and operations and to the risks detailed in
Access' and Somanta's Annual Reports on Form 10-KSB and other reports filed by
Access and Somanta with the Securities and Exchange Commission.
SOURCE Access Pharmaceuticals, Inc.
Stephen B. Thompson, Vice President, Chief Financial Officer, of Access
Pharmaceuticals, Inc., +1-214-905-5100; or investors, Donald C. Weinberger, or
media, Alisa Steinberg, both of Wolfe Axelrod Weinberger Assoc. LLC,
+1-212-370-4500, for Access Pharmaceuticals, Inc.; or Andrew Hellman of
CEOcast, Inc., +1-212-732-4300, for Access Pharmaceuticals, Inc.
