Aida Announces Completion of Anti-Cancer Drug Phase Two Testing
SANTA MONICA, Calif., November 28, 2007 /PRNewswire-FirstCall/ -- Aida Pharmaceuticals, Inc. today announced that the Company has successfully completed Phase II field testing of its anti-cancer drug, Rh-Apo2L. The product of over a decade of research, Rh-Apo2L is intended to be a new drug therapy using a recombinant protein produced by genetic engineering. The drug is designed as a highly-targeted therapy with direct function on cancer cells. Assuming successful completion of all testing phases and approval of the drug by China's State Food and Drug Administration (SFDA), Aida expects to have Rh-Apo2L on the market during the third quarter of 2008.
Phase 2 testing results thus far have shown strong efficacy in treating lung cancer (non-small cell), non-Hodgkins lymphoma, stomach cancer, pancreatic cancer and kidney cancer. Shanghai Qiaer, Aida's research subsidiary, has reduced the key cancer targets to the three main diseases which Rh-Apo2L has shown the most efficacy and which have the most market potential. These three cancer targets will be announced at a later date, pending successful trials. Formal results will also be released after clinical tests are completed. After that, the company will apply for the approval of commencement of Phase III clinical trials from SFDA.
About Aida Pharmaceuticals
Aida Pharmaceuticals is a product-focused pharmaceuticals company engaged in the formulation, clinical testing, registration, manufacture, sales and marketing of advanced pharmaceutical and genetic products in mainland China. The Company's mission is to discover, develop and market meaningful new therapies that improve human health. Aida Pharmaceuticals, in operation since March 1999, is headquartered in Hangzhou, China with manufacturing, distribution and sales points throughout mainland China. Aida is GMP certified in China and ISO9002 certified for quality assurance and ISO14000 certified for ecologically-friendly practices.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION ACT OF 1995
With the exception of historical information, the matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of Aida Pharmaceuticals could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations, inability to hire and retain qualified personnel, and changes in the general economic climate. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by Aida Pharmaceuticals, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.
Posted: November 2007