Access Pharmaceuticals Demonstrates Ability to Significantly Reduce Glucose Levels in Pre-clinical Testing of Cobalamin Oral Insulin
DALLAS, December 07, 2007 /PRNewswire-FirstCall/ -- Access Pharmaceuticals, Inc. 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."
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.
CONTACT: Stephen B. Thompson, Vice President, Chief Financial Officer, ofAccess Pharmaceuticals, Inc., +1-214-905-5100; or investors, Donald C.Weinberger, or media, Alisa Steinberg, both of Wolfe Axelrod WeinbergerAssoc. LLC, +1-212-370-4500, for Access Pharmaceuticals, Inc.; or AndrewHellman of CEOcast, Inc., +1-212-732-4300, for Access Pharmaceuticals, Inc.
Web site: http://www.accesspharma.com/
Ticker Symbol: (NASDAQ-OTCBB:ACCP),(NASDAQ-OTCBB:ACCP)
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Posted: December 2007