Advanced Proteome Therapeutics Corporation Announces Advances in Technology in 3rd Quarter Filing, Grants Stock Options, and End
June 26 2009 - 2:08PM
Marketwired
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
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