June 30th, 1999
Paladin Reports Results from a Proof-of-Concept Study for use of Neuralgon in the treatment of Trigeminal Neuralgia
Paladin announces that its proof-of-concept study for Neuralgon failed to produce statistical significant evidence of efficacy in the treatment of Trigeminal Neuralgia. There were 16 patients that were evaluated in this double blind, randomized, placebo controlled, parallel group study.
Subject to Ethic Board approval, Paladin intends on completing this study to 30 patients. The Company does not feel that the 14 additional patients will change the result of the study; rather, the purpose of completing the study is to analyze Neuralgon’s effect on the number of paroxysms from the baseline of the study (no drug) to the open label period. This study was an investigator sponsored study conducted at the University of Pittsburgh.
Jonathan Goodman, President of Paladin, stated, “Paladin’s core competency is in the marketing and sales of innovative pharmaceuticals in niche therapeutic areas. Consistent with this strategy, Paladin undertakes the development of selected late-stage products not yet approved for marketing. While we are disappointed by the results of this study, this outcome will not materially affect forecasted growth in sales and profits We continue to believe in this molecule and will be exploring our options over the next several months.” Paladin’s mission is to understand and serve the needs of Canadian health-care professionals in niche therapeutic areas through the development, licensing and commercialization of innovative products.
Paladin Labs Inc. is a public company whose shares trade on the Vancouver Stock Exchange under the symbol PLB.
About Paladin Labs Inc.
Paladin Labs, headquartered in Montreal, Quebec is a Canadian developer, marketer and distributor of innovative pharmaceuticals, currently offering products in urology, dermatology, rheumatology and other specialty markets. For more information about Paladin, please visit the Paladin Web Site at www.paladin-labs.com or send e-mail to ir@paladin-labs.com.
This news release may contain forward-looking statements or predictions. These statements represent our judgement as of this date and are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed in such forward-looking statements Potential risks and uncertainties include, without limitation, those associated with product development, clinical trials, future revenues and profitability, and obtaining marketing approval. These documents contain and identify important factors that could cause the actual results to differ materially from those contained in the projections or forward-looking statements.
PALADIN LABS INC.
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