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Protox receives funding from NRC to develop lung cancer drug
Tuesday, June 7, 2005 - Vancouver, British Columbia - Protox Therapeutics Inc.
announced today that it has received a financial contribution of up to $340,000
from the National Research Council ('NRC') Industrial Research Assistance
Program ('IRAP'). The NRC has committed this money to the Company to
support its development of Lung-H1, a therapeutic toxin for the treatment of non
small cell lung cancer. The contribution is non-repayable.
"We are pleased to be the recipient of the IRAP funding in support of our lung
cancer program," said Dr. Fahar Merchant, President & CEO of the Company.
"On April 5, 2005 we announced that the Company is moving forward with
licensing negotiations for the Lung H1 technology from the NRC Institute of
Biological Sciences and the University of Victoria Innovation and Development
Corporation. This funding will help to drive the development of this promising
technology".
Protox has established a partnership with the NRC Institute of Biological
Sciences to produce and test cancer therapeutics that have been created by
linking Aerolysin to single chain antibodies that bind to cancer cells. The first
application of this approach is the development of Lung-H1 for the treatment of
non small cell lung cancer (NSCLC) which accounts for approximately 75% of
all lung cancers. Lung cancer remains the most common malignancy with an
estimated 1.04 million new cases and 921,000 deaths each year worldwide.
Patients with NSCLC have poor prognosis and most patients do not respond
satisfactorily to treatment.
ABOUT PROTOX: Protox Therapeutics Inc. is developing novel cancer
therapeutics by engineering the naturally occurring bacterial toxin Aerolysin,
which kills cells by forming pores in them. The Company believes that its
engineering approach will produce targeted cancer therapeutics that have
greater efficacy and fewer side effects than existing cancer treatments.
For more information, contact:
Terry Vanderkruyk
Director, Investor Relations, Protox Therapeutics Inc.
Tel: 604-688-4376
Cell: 604-789-0844
Fax: 604-688-0173
tvanderkruyk@protoxtherapeutics.com
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