DGAP-Media: Proteo, Inc./ Proteo Biotech AG: Proteo cooperates with Molecular Imaging North Competence Center (MOIN CC)
(firmenpresse) - Proteo Biotech AG / Research/Technology
07.05.2010 10:31
Dissemination of a Media Release, transmitted by
DGAP - a company of EquityStory AG.
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Irvine, CA - Kiel, May 7, 2010 - Proteo, Inc. (OTCBB: PTEO; Frankfurter
Freiverkehr: WKN: 925981) and its wholly-owned subsidiary Proteo Biotech AG
announced today a cooperation with the Molecular Imaging North Competence
Center (MOIN CC) at the Christian-Albrechts University of Kiel. The federal
state of Schleswig-Holstein is backing the creation of MOIN CC with 8.2
million EUR using funding from the federal state and the European Regional
Development Fund (ERDF), as well as resources from the second national
economic stimulus package.
The establishment of MOIN CC creates an infrastructure for networking
between universities and industry in order to promote regional knowledge
transfer and sustainable economic growth. Molecular imaging is considered
to be one of the most dynamic fields of innovation and growth in medicine.
The visualization of molecular, biochemical or cellular processes using
adapted radiological procedures makes more exact diagnoses possible,
allowing the use of therapies that are tailored to the patient and offering
better chances of a cure. The emphasis of MOIN CC is centered on the core
competences of the Christian-Albrechts University of Kiel and the
University Medical Center of Schleswig-Holstein. The seven projects involve
research into cancer and inflammation, areas in which extensive know-how
already exists in the form of an Excellence Cluster, a Collaborative
Research Center and Priority Research Programmes. As a cooperating partner
Proteo Biotech AG is participating in a project with its pharmaceutically
active substance Elafin. Oliver Wiedow, founder of Proteo Biotech AG and
Professor of Dermatology at the University of Kiel:»The funding of MOIN CC
by the federal state of Schleswig-Holstein will create a valuable structure
for further development of translational medical research at the university
and the cooperating companies, particularly in the area of drug
development.«
About Proteo:
The company researches, develops and markets compounds for biological and
medical research as well as for use as pharmaceuticals. The main focus is
on anti-inflammatory drugs, in particular the human elastase inhibitor
Elafin. The excellent tolerability of intravenously administered
recombinant Elafin was demonstrated convincingly in a Phase I clinical
trial. The results of a Phase II clinical trial for the treatment of
postoperative inflammatory reactions of esophagus carcinoma are currently
being evaluated. Proteo's licensing and development partner, Minapharm
Pharmaceuticals SAE, has initiated a further Phase II clinical trial using
Elafin in patients undergoing kidney transplantation. This trial is for the
prevention of acute and chronic organ rejection reactions (allograft
nephropathy) and will be conducted at the University of Cairo. As a further
cooperation partner the University of Edinburgh has planned a clinical
trial to study the effects of Elafin in the context of bypass operations
after a heart attack. Proteo is planning the out-licensing of selected
indications and the initiation of strategic alliances to open up new areas
of application and their commercialization.
Forward-Looking Statements:
Certain statements in this news release may contain forward-looking
information within the meaning of Rule 175 under the Securities Act of 1933
and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to
the safe harbor created by those rules. All statements, other than
statements of fact included in this release, including, without limitation,
statements regarding potential future plans and objectives of the company,
are forward-looking statements that involve risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Technical complications that may arise
could prevent the prompt implementation of any strategically significant
plan(s) outlined above. The company cautions that these forward looking
statements and risks and uncertainties involved are further qualified by
other factors including, but not limited to those set forth in the
company's Form 10-K filing and other filings with the United States
Securities and Exchange Commission. The company undertakes no obligation to
publicly update or revise any statements in this release, whether as a
result of new information, future events or otherwise.
Contact:
Barbara Kahlke, Ph.D.
Proteo Biotech AG
Am Kiel-Kanal 44
D-24106 Kiel
Email: info(at)proteo.de
Telephone: +49(0)431 8888462
Fax: +49(0)431 8888463
07.05.2010 10:31 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 07.05.2010 - 10:31 Uhr
Sprache: Deutsch
News-ID 20448
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