Advanced Proteome Therapeutics to Be Granted Patent by EPO and to Present at Premier Biopartnering and Investment Conference
March 02 2010 - 9:30AM
Marketwired
Advanced Proteome Therapeutics Corporation (TSX VENTURE: APC) (the
"Corporation" or "APC") is pleased to announce that the European
Patent Office (EPO) intends to grant a patent directed toward a
"Method for identifying activated polymer complexes for secondary
site-specific modification of protein target groups" (European
Patent Application No: 04 702 918.6). The patent has been assigned
to its subsidiary, Advanced Proteome Therapeutics Inc., by the
inventor, Alexander Krantz, Ph.D.
The subject of the patent is a method for site-specifically
modifying proteins. Site-specific modifications are usually
necessary to prepare proteins for commercial use. The new patent
describes a method for discovering novel protein sites for
attaching entities which are likely to enhance the properties of
proteins. The method consists of ensembles of specially designed
molecules that are in competition to selectively modify protein
molecules. The winning molecules are detected by their greater
abundance at specific target sites.
Potential applications include the creation of entirely new
classes of therapeutic proteins as well as new, improved versions
of off-patent proteins that have achieved multi-billion dollar
sales per annum. Over the past decade protein therapeutics has been
the most dynamic sector of the pharmaceutical industry. The global
protein therapeutics market registered a robust growth rate of over
14% in 2008.
The Corporation will also be presenting at BioTrinity 2010 in
Newbury, Berkshire, England on April 14th. Alexander Krantz,
President and CEO will present a profile of the Corporation
reviewing its business strategy, technological advantages and
recent progress.
BioTrinity 2010 is the Premier Biopartnering and Investment
Conference in the UK and is Europe's fastest growing partnering
conference with more investors than any other UK conference
(BioTrinity 2010 is also a Massachusetts Biotechnology
Council).
About APC
APC's primary corporate primary 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. The market for
diagnostics and 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 and the need for
homogeneous conjugates that APC is attempting to address.
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 Inc. (800) APT 1169
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