FOR IMMEDIATE RELEASE
SEPTEMBER 3, 1998
ENTREMED, INC. AND CYTIMMUNE SCIENCES, INC. ANNOUNCE A PRODUCT LAUNCH OF THE ENDOSTATIN™ PROTEIN IMMUNOASSAY KIT
Rockville, Md. September 3, 1998 ... EntreMed, Inc. (NASDAQ:ENMD) and CytImmune Sciences Inc. announced today the product launch of the Endostatin™ Protein ACCUCYTE™ Immunoassay Kit developed collaboratively by the companies.
The patented ACCUCYTE™ kit is the first commercially available immunoassay kit for the detection of human Endostatin™ protein in biological fluids, such as blood. A naturally occurring fragment of collagen XVIII, Endostatin™ protein was discovered in 1996 in the laboratory of Dr. Judah Folkman at Children's Hospital, Boston. Antiangiogenic agents such as Endostatin™ starve tumors to death by blocking the growth of blood vessels that supply nutrients necessary for their proliferation. In preclinical studies in mice, Endostatin™ protein has proven to be a potent antiangiogenic agent by repeatedly inhibiting the growth of metastatic and primary cancerous tumors with no noted drug resistance or toxicity.
Dr. Lawrence Tamarkin, President and Chief Executive Officer for CytImmune Sciences Inc., commented on the product launch, "Scientists worldwide now have a new research tools to accurately measure Endostatin™ in fluids from patients with cancer and cardiovascular disease. The Endostatin™ kit is part of CytImmune's ACCUCYTE™ assay product line designed to measure angiogenic factors and garner critical data which may be used for future diagnostic applications."
CytImmune Sciences Inc. developed the Endostatin™ antibody and the critical components of the ACCUCYTE™ Immunoassay kit. EntreMed, Inc. supplied purified recombinant Endostatin™ for the generation of the antibody and for use as the kit standard against which unknown Endostatin™ protein is measured. CytImmune Sciences is initially selling the kit for research use only, and EntreMed will receive royalties from those sales.
Dr. John W. Holaday, EntreMed Chairman, President and Chief Executive Officer commented on the ACCUCYTE™ Immunoassay Kit, "This new assay will allow researchers to detect human Endostatin™ protein and to understand its potential association with diseases such as cancer and blindness. The kit also serves as an important method of monitoring the production lots and pharmacological profile of Endostatin™ as we continue to develop this important product candidate."
EntreMed, Inc. holds the commercial rights to Endostatin™ protein and is currently preparing for the commencement of human clinical trials in 1999.
College Park, Md.-based CytImmune Sciences Inc., is a privately held company founded in 1988. The Company patented its ACCUCYTE™ product line in 1996 and has commercialized 25 different immunoassay kits. After receiving an initial round of funding in 1997, the Company is collaborating with research entities worldwide to explore new platform technologies including targeted drug delivery systems, methods for safe delivery of cytokines for immunotherapeutic regimens, gene therapy, and vaccine adjuvants.For further information, please visit the CytImmune Sciences web site at www.cytimmune.com.
Rockville, Md.-based EntreMed, Inc., the Angiogenesis Company™, is a leader in the field of antiangiogenesis research, which involves the inhibition of abnormal blood vessel growth recently associated with a broad range of diseases. The Company's strategy is to accelerate development of its core technologies through collaborations and sponsored research programs with university medical departments, pharmaceutical companies and government laboratories. EntreMed has a strategic partnership with Bristol-Myers Squibb Company to further the preclinical and clinical development of Angiostatin™ protein and thalidomide analogs. For further information, please visit the EntreMed web site at www.entremed.com
Statements herein that are not descriptions of historical facts are forward-looking and subject to risk and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors, including those set forth in the Company's Securities and Exchange Commission filings under "Risk Factors," including risks relating to the early stage of products under development; uncertainties relating to clinical trials; dependence on third parties; future capital needs; and risks relating to the commercialization, if any, of the Company's proposed products (such as marketing, safety, regulatory, patent, product liability, supply, competition and other risks).
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