Aug 16, 1999
Paladin Completes License Agreement With Connetics To Develop And Commercialize Relaxin (CONXN®) in Canada.
Montreal, PQ – August 16, 1999 - Paladin Labs Inc. (VSE:PLB) announced today the completion of the development, commercialisation and supply agreement for recombinant human relaxin (ConXn®) with Connetics Corporation ((Nasdaq: CNCT). ConXn® is a potential therapy for the treatment of scleroderma and organ fibrosis.
Jonathan Goodman, President of Paladin, said, "Earlier this year, we were pleased to have entered the rheumatology market, which is characterised by a small number of decision-makers driving a large volume of sales. ConXn® stands to be the first treatment for scleroderma, a devastating and progressive disease for which today there is no cure. We are thrilled to be participating in the development of this important new therapy. "
Recombinant human relaxin is a protein that has been demonstrated to inhibit excessive connective tissue build-up by decreasing collagen production and enhancing collagen breakdown. In 1997, Connetics completed a controlled Phase II clinical trial, which showed positive results in the treatment of scleroderma. In February 1999, Connetics continued its development efforts with the initiation of a Phase II/III clinical trial to determine the safety and effectiveness of ConXn. Approximately 200 patients will be enrolled in the study, which is targeted for completion in 2000.
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 pharmaceutical 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.
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