antiquity
02-20-2002, 03:03 PM
Samaritan Collaboration with Georgetown University Gets Results; Produces First ``New Discovery'' Which Could be a Breakthrough Drug for Alzheimer's
LAS VEGAS--(BUSINESS WIRE)--Feb. 20, 2002--Samaritan Pharmaceuticals, Inc. (OTCBB:SPHC):
-- The Value to Samaritan is the Addition of Another Drug
Candidate to Its Emerging Pipeline, i.e. this Early Stage
Alzheimer's Drug Candidate and Our Late Stage HIV Drug that
Has Already Completed FDA Phase ll Clinical Trials
Samaritan Research Laboratories of Samaritan Pharmaceuticals, Inc. (OTCBB:SPHC) is pleased to announce Georgetown University, in compliance with its Research Collaboration and Licensing Agreement, has notified Samaritan Pharmaceuticals, Inc. of the "new discovery" with a disclosure notice and an exclusive license offer which Samaritan accepted. The new discovery presents a `Novel Entity' to be used as a therapeutic for Alzheimer's disease. This is the first "new discovery" to come out of the Georgetown University collaboration with Samaritan. Samaritan initiated a seven-year contract to fund Samaritan Research Laboratories at Georgetown University in July 2001, and has accomplished a "new discovery" in a record amount of time compared to the bureaucracy of "Big Pharma," which goes to the credit of the Georgetown University scientists.
The Georgetown University collaboration to develop a robust pipeline of innovative technology is a significant part of Samaritan's business strategy to have several drug candidates in various stages of development. Dr. Janet Greeson, President and CEO of Samaritan, stated, "The value of having your own research arm in an academic environment to grow your pipeline is immeasurable." Dr. Greeson further stated, "Illnesses that were once thought to be fatal and incurable will soon become treatable with advanced drugs. This is not only welcome news to the sick and dying, but also welcome news for our investors. Although the cost of developing new drugs is costly and time consuming, the rewards can be enormous."
Alzheimer's disease is a degenerative disease of the brain from which there is no recovery; an afflicted person loses all memory and mental functioning. About half of the people in nursing homes and almost half of all people over 85 have Alzheimer's disease. It is now the fourth leading cause of death in adults. Almost 2 million Americans have Alzheimer's disease, and unless effective methods for prevention and treatment are developed, it will reach epidemic proportions by the middle of the century, afflicting over 8 million people.
About Samaritan Pharmaceuticals
Samaritan Pharmaceuticals is a Biopharmaceutical Company dedicated to saving lives by focusing on breakthrough discovery and drugs for Alzheimer's, Cancer, Cholesterol, HIV and Parkinson's disease. Samaritan hopes to achieve a competitive position in biotech with a robust "pipeline" of patents and technology in the categories of Gene Therapy, Antisense Therapy, Signal Transduction and Stem Cell Therapy. For more information visit: www.samaritanpharmaceuticals.com (http://www.samaritanpharmaceuticals.com).
The company disclaims any information that is created by an outside party and endorses only information that is communicated by its press releases, filings and website. This news release contains forward-looking statements that reflect management's current beliefs about the potential for its drug candidates, science and technology for the approved indications. However, as with any biopharmaceutical with technology under development, there are significant risks and uncertainties in the process of development and regulatory review. There are no guarantees that the Company's technology will prove to be commercially successful. For additional information about the factors that affect the Company's business, please see Exhibit 99 to the company's latest Form 10-Q, filed November 2001. The company undertakes no duty to update forward-looking statements.
CONTACT:
Samaritan Pharmaceuticals
Gene Boyle, Business Development, GeneBoyle@aol.com
Doug Bessert, Investor Relations, DougBessert@aol.com
702/735-7001; Fax 702/737-7016
LAS VEGAS--(BUSINESS WIRE)--Feb. 20, 2002--Samaritan Pharmaceuticals, Inc. (OTCBB:SPHC):
-- The Value to Samaritan is the Addition of Another Drug
Candidate to Its Emerging Pipeline, i.e. this Early Stage
Alzheimer's Drug Candidate and Our Late Stage HIV Drug that
Has Already Completed FDA Phase ll Clinical Trials
Samaritan Research Laboratories of Samaritan Pharmaceuticals, Inc. (OTCBB:SPHC) is pleased to announce Georgetown University, in compliance with its Research Collaboration and Licensing Agreement, has notified Samaritan Pharmaceuticals, Inc. of the "new discovery" with a disclosure notice and an exclusive license offer which Samaritan accepted. The new discovery presents a `Novel Entity' to be used as a therapeutic for Alzheimer's disease. This is the first "new discovery" to come out of the Georgetown University collaboration with Samaritan. Samaritan initiated a seven-year contract to fund Samaritan Research Laboratories at Georgetown University in July 2001, and has accomplished a "new discovery" in a record amount of time compared to the bureaucracy of "Big Pharma," which goes to the credit of the Georgetown University scientists.
The Georgetown University collaboration to develop a robust pipeline of innovative technology is a significant part of Samaritan's business strategy to have several drug candidates in various stages of development. Dr. Janet Greeson, President and CEO of Samaritan, stated, "The value of having your own research arm in an academic environment to grow your pipeline is immeasurable." Dr. Greeson further stated, "Illnesses that were once thought to be fatal and incurable will soon become treatable with advanced drugs. This is not only welcome news to the sick and dying, but also welcome news for our investors. Although the cost of developing new drugs is costly and time consuming, the rewards can be enormous."
Alzheimer's disease is a degenerative disease of the brain from which there is no recovery; an afflicted person loses all memory and mental functioning. About half of the people in nursing homes and almost half of all people over 85 have Alzheimer's disease. It is now the fourth leading cause of death in adults. Almost 2 million Americans have Alzheimer's disease, and unless effective methods for prevention and treatment are developed, it will reach epidemic proportions by the middle of the century, afflicting over 8 million people.
About Samaritan Pharmaceuticals
Samaritan Pharmaceuticals is a Biopharmaceutical Company dedicated to saving lives by focusing on breakthrough discovery and drugs for Alzheimer's, Cancer, Cholesterol, HIV and Parkinson's disease. Samaritan hopes to achieve a competitive position in biotech with a robust "pipeline" of patents and technology in the categories of Gene Therapy, Antisense Therapy, Signal Transduction and Stem Cell Therapy. For more information visit: www.samaritanpharmaceuticals.com (http://www.samaritanpharmaceuticals.com).
The company disclaims any information that is created by an outside party and endorses only information that is communicated by its press releases, filings and website. This news release contains forward-looking statements that reflect management's current beliefs about the potential for its drug candidates, science and technology for the approved indications. However, as with any biopharmaceutical with technology under development, there are significant risks and uncertainties in the process of development and regulatory review. There are no guarantees that the Company's technology will prove to be commercially successful. For additional information about the factors that affect the Company's business, please see Exhibit 99 to the company's latest Form 10-Q, filed November 2001. The company undertakes no duty to update forward-looking statements.
CONTACT:
Samaritan Pharmaceuticals
Gene Boyle, Business Development, GeneBoyle@aol.com
Doug Bessert, Investor Relations, DougBessert@aol.com
702/735-7001; Fax 702/737-7016