CytoTherapeutics Announces Results From Pain Control Implant
Phase II Efficacy Study; Collaboration to Commercialize Encapsulated Bovine Cell
Therapy for Pain Ends
LINCOLN, R.I.--(BW HealthWire) via NewsEdge Corporation -- CytoTherapeutics, Inc. (Nasdaq:CTII) has announced that AstraZeneca Group plc, informed it of the results of AstraZeneca's analysis of the double-blind, placebo-controlled trial of CytoTherapeutics' encapsulated bovine cell implant for the treatment of severe, chronic pain in cancer patients. AstraZeneca has determined that, based on criteria it established, the results from the 85-patient trial did not meet the minimum statistical significance for efficacy established as a basis for continuing worldwide trials for the therapy. AstraZeneca has therefore indicated that it does not intend to further develop the bovine cell-containing implant therapy.
CytoTherapeutics and Astra formed the collaboration in 1995. Under the terms of the collaboration agreement, Astra, and later AstraZeneca, funded research and development of the pain control implant, as well as directed and funded clinical investigation of the therapy. CytoTherapeutics will reassess future development plans and other alternatives for the maximization of value for its encapsulated cell technology.
CytoTherapeutics to Pursue Stem Cell Development Strategy
In addition to the encapsulated cell technology, which was the basis of the encapsulated bovine cell implant in the AstraZeneca trial, CytoTherapeutics, through its wholly owned subsidiary, StemCells, Inc., is engaged in a program for the research and development of its proprietary stem/progenitor cell technology platform. The Company plans to continue to aggressively pursue research, development and commercialization of its broad, proprietary stem/progenitor cell technology platforms. CytoTherapeutics' patent estate covering its stem cell technology consists of 10 issued US patents and 28 US patent applications.
CytoTherapeutics, Inc. is a biotechnology company focused on the discovery, development and commercialization of cell-based therapies. For additional information, visit the Company's Internet web site at www.cyto.com.
Statements in this press release other than statements of historical facts constitute forward-looking comments regarding, among other things, future business operations. The Company's actual results may vary materially from those forward looking statements due to risks and uncertainties to which the Company is subject and which are described in Exhibit 99 to the Company's Annual Report on Form 10-K entitled "Cautionary Factors Relevant to Forward-Looking Statements."
<<Business Wire, 06-24-99, 06:56 Eastern>>
CONTACT: CytoTherapeutics, Inc. | Richard M. Rose, M.D., (401) 288-1000 | or | Elizabeth A. Razee, (401) 288-1000