DALLAS and NEW YORK, July 15 Access Pharmaceuticals, Inc. (OTC Bulletin Board: ACCP), announced today that it has entered into a pre-licensing feasibility agreement with a leading biotechnology company to develop an oral formulation of its currently-marketed, proprietary injectable drugs. Access will utilize its proprietary Cobalamin Oral Drug Delivery Technology to develop oral formulations of the drug for pre-clinical testing. Although the terms of the agreement have not been disclosed, Access indicated that any successful formulation developed will be subject to a subsequent full-licensing agreement.
Access recently reported that its novel Cobalamin-coated insulin containing nanoparticle formulations delivered orally provided a pharmacological response (lowering of blood glucose levels in animal models) equivalent to greater than 80% of that achieved by insulin delivered subcutaneously. The Company believes the substantial oral bioavailability found underscores the formulation's potential for clinical development and ultimate commercialization.
"We are excited to begin this collaboration for the development of an oral formulation of one of the leading injectable drugs," said David Nowotnik, Senior Vice President for R&D for Access Pharmaceuticals, Inc. He continued, "We have seen significant oral bioavailability and promise in our previously-developed oral formulations of insulin and believe we can have similar success with many other marketed injectables. We believe this agreement further demonstrates the growing interest in our Cobalamin Oral Drug Delivery Technology."
Access' worldwide-exclusive patented Cobalamin(TM) technology utilizes the body's natural vitamin B12 oral uptake to facilitate oral absorption of pharmaceuticals by a "Trojan horse" mechanism. This technology platform provides Access with the ability to develop a number of different formulations with improved benefits for various disease applications. In addition to insulin, Access has applied this technology to human growth hormone (HGH) and resulted in a formulation demonstrating efficacy that represents of over 25% improvement in weight gain, when given orally in an established animal model. Access continues to move its insulin and HGH products towards clinical development, while submitting additional patents surrounding both formulations.
Access Pharmaceuticals, Inc. is an emerging biopharmaceutical company that develops and commercializes proprietary products for the treatment and supportive care of cancer patients. Access' products include MuGard(TM) for the management of patients with mucositis, ProLindac(TM), currently in Phase II clinical testing of patients with ovarian cancer, and Thiarabine, a new generation nucleoside analog which has demonstrated both pre-clinical and clinical activity in certain cancers.
The company also has other advanced drug delivery technologies including Cobalamin(TM)-mediated targeted delivery and oral drug delivery, its proprietary nanopolymer delivery technology based on the natural vitamin B12 uptake mechanism. For additional information on Access Pharmaceuticals, please visit our website at 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: our cash burn rate, clinical trial plans and timelines and clinical results for ProLindac, MuGard, Thiarabine and Cobalamin and other product candidates, our ability to achieve clinical and commercial success and our ability to successfully develop marketed products. 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' Annual Reports on Form 10-K and other reports filed by Access with the Securities and Exchange Commission.
Contact: Company Contact: Investor Relations ---------------- --------------------------- Donald C. Weinberger/Diana Bittner Christine Berni (media) Director of Investor Relations Wolfe Axelrod Weinberger Assoc. LLC Access Pharmaceuticals, Inc. (212) 370-4500 (212) 786-6208
SOURCE Access Pharmaceuticals, Inc.