CALGARY, Dec. 1 / PRNewswire-FirstCall/ - Patch
International Inc. (
PAII: OTCBB, PQG: Berlin Bremen Stock Exchange)
reported that Pharmaxis (PXS: Australian Stock Exchange) has announced
that the company has extended the intellectual property protection
for its autoimmune disease research, with the grant of a patent
by the United States Patent and Trademark Office for a potential
new treatment for multiple sclerosis. Patch holds 11.2 million
shares in Pharmaxis and is the company's second largest shareholder
behind the Rothschild Group.
The patent relates to a series of molecules that inhibit immune
cell trafficking which are expected to assist treatment of autoimmune
diseases such as multiple sclerosis and rheumatoid arthritis.
Multiple sclerosis is a chronic disease of the central nervous
system and affects about 1.1 million people in the developed
world. Although treatments aimed at delaying the progression
of the disease exist, there is no cure.
ABOUT PHARMAXIS
Pharmaxis is a specialist pharmaceutical company committed
to the research, development, and commercialization of human
therapeutic products for chronic respiratory and autoimmune
diseases.
Pharmaxis is focused on the development of its two leading
technologies. The first technology includes Bronchitol(TM) and
Aridol(TM), which are inhaled non-ionic osmolytes. Bronchitol(TM)
is being developed for the treatment of respiratory diseases
-- in particular, cystic fibrosis, bronchiectasis, and chronic
bronchitis. Aridol(TM) is an improved lung function test and
is currently in a 600 subject multicentre Phase III study and
over 250 subjects have been enrolled to date.
The second technology focuses on new immune response modifiers
-- PXS25 and PXS2000 -- for the treatment of multiple sclerosis
and rheumatoid arthritis. The company has a pipeline of products
in different stages of development, including four projects
at clinical study stage (in patients), two projects in pre-clinical
evaluation, and one research project to identify a compound
for development.
Pharmaxis operates a first class, TGA-licensed manufacturing
facility at Frenchs Forest, near Sydney, Australia.
Pharmaxis was founded in 1998 and is chaired by Denis Hanley,
former Chairman and CEO of Memtec Limited. He has extensive
experience in growing Australian technology corporations to
become successful global entities.
Pharmaxis was listed on the Australian Stock Exchange in November
2003. For additional information on Pharmaxis, please visit
the corporate website at
www.pharmaxis.com.au.
Patch's Pharmaceutical Interest Files Aridol
IND in the USA
Tuesday November 30, 9:02 am ET
CALGARY, Nov. 30 / PRNewswire-FirstCall/ - Patch
International Inc. (
PAII: OTCBB, PQG: Berlin Bremen Stock
Exchange) reported that Pharmaxis (PXS: Australian Stock
Exchange) has announced the filing of an Investigational New
Drug (IND) application with the US Food and Drug Administration
(FDA). The IND is the first formal step in conducting a US clinical
trial which will support a marketing application for Aridol
in the USA in 2005. Patch holds 11.2 million shares in Pharmaxis
and is the company's second largest shareholder behind the Rothschild
Group.
The Phase III clinical trial will be conducted over ten sites
in the US and will recruit 130 subjects. The objective of
the trial is to determine sensitivity and specificity of Aridol
with respect to clinical diagnosis of Asthma.
Asthma is a public health problem affecting over 20 million
people in the USA. The diagnosis and management of asthma
is most commonly based on observation of symptoms. New tools
are needed that can reduce the cost of asthma on healthcare
systems and improve patient well being. In the USA, asthma
cost the healthcare system $15 billion last year and 4,500
people died from the condition.
The trial will be conducted in accordance with the International
Committee of Harmonisation (ICH) guidelines for Good Clinical
Practice (GCP).
Aridol is a patented, inhalable, dry powder that can be administered
using a convenient, hand-held device. The test does not require
specialist equipment and can be performed in a general practitioner's
surgery. It is manufactured by Pharmaxis in the company's
TGA-approved facility.
Patch updates global progress
Tuesday November 9, 9:06 am ET
CALGARY, Nov. 9 / PR Newswire-FirstCall/ - Patch
International Inc. (
PAII: OTCBB, PQG: Berlin Bremen Stock
Exchange) is pleased to provide a progress report on its
global business activities.
Commenting on the update, Patch president David Stadnyk said,
"It is an exciting time for Patch and we are pleased
with the company's progress. Patch continues with its mandate
to grow the North American oil and gas revenue stream while
moving ever closer to a formal international agreement that
would result in significant upside for the company's stakeholders.
Just as our pioneering pharmaceutical efforts are coming to
fruition, I believe that the coming months will be a period
of tremendous success for the company's international oil
and gas prospects. Much has happened over the past year, and
I want to take this opportunity to update you on these events."
North Africa
Patch has signed a formal agreement with a company operating
internationally to develop oil and gas opportunities in North
Africa. The partnership with First Petroleum Inc., a private
corporation headed by international businessman Danilo Mancin,
will lead to the establishment of a partnership operation
specializing in the oil and gas exploration and production
activities within the highly lucrative North African markets.
The company's initial opportunities are in Algeria and Libya.
Ukraine
Patch continues to await a clear outcome to the presidential
elections in Ukraine. With the first round of the Ukrainian
presidential elections such a close-run event, the international
investment community is closely following proceedings.
Currently the fastest growing economy in the world, both
of the leading presidential candidates are stressing that
an attractive investment climate is one of their key priorities.
Whatever the outcome of the election, all analysts are predicting
a major investment boom in Ukraine in 2005. Patch will be
focusing exclusively on oil and gas opportunities with Nadra
Ukrayny, a subsidiary of government owned Naftogaz.
Patch wishes to advise that the agreement as defined in the
Letter of Intent with Greenlab Agronomics Inc. was not negotiated
and signed. As such there is no agreement between Greenlab
and Patch International Inc. effective July 31, 2004.
North America
Patch is involved in oil and gas projects in Saskatchewan,
Texas, and the East Corning area in Northern California. Patch's
main focus in North America had been on its assets located
in the Kerrobert area in the Province of Saskatchewan, Canada.
Patch is currently waiting to see if the Manahuilla Creek
project in Texas will be commercially viable.
Australia
Patch holds 11.2 million shares in Pharmaxis and is one of
the company's largest shareholders with the Rothschild Group,
CIBC and HSBC. On November 3, 2004 Patch reported that Pharmaxis
(PXS: Australian Stock Exchange) announced that strong support
has enabled the company to raise $16.5 million to give it
a cash position of more than $39 million through a fully underwritten
placement to Australian institutions and sophisticated investors.
The placement replenishes the company's cash funds expended
on its successful clinical trials during 2004 and therefore
allows Pharmaxis to proceed with a new international Phase
III trial for Bronchitol(TM). Also, the Phase III clinical
trial of Aridol(TM) achieved its endpoints. The trial was
designed to evaluate Aridol as a test for asthma. The positive
results mean the company will apply for marketing authorization
later this year in Australia, and early in 2005 in Europe.
Subject to regulatory approval, sales of Aridol are expected
to commence in 2005.
ABOUT PHARMAXIS
Pharmaxis is a specialist pharmaceutical company committed
to the research, development and commercialization of human
therapeutic products for chronic respiratory and autoimmune
diseases.
Pharmaxis is focused on the development of its two leading
technologies. The first technology includes Bronchitol(TM)
and Aridol(TM), which are inhaled non-ionic osmolytes. Bronchitol(TM)
is being developed for the treatment of respiratory diseases
- in particular, cystic fibrosis, bronchiectasis and chronic
bronchitis. Aridol(TM) is an improved lung function test and
is currently in a 600 subject multicentre Phase 111 study
and over 250 subjects have been enrolled to date.
The second technology focuses on new immune response modifiers
- PXS25 and PXS2000 - for the treatment of multiple sclerosis
and rheumatoid arthritis.
The company has a pipeline of products in different stages
of development, including four projects at clinical study
stage (in patients), two projects in pre-clinical evaluation
and one research project to identify a compound for development.
Pharmaxis operates a first class, TGA-licensed manufacturing
facility at Frenchs Forest, near Sydney, Australia.
Pharmaxis was founded in 1998 and is chaired by Denis Hanley,
former Chairman and CEO of Memtec Limited. He has extensive
experience in growing Australian technology corporations to
become successful global entities.
Pharmaxis was listed on the Australian Stock Exchange in
November 2003. For additional information on Pharmaxis, please
visit the corporate website at
www.pharmaxis.com.au .
ABOUT PATCH INTERNATIONAL
Patch International was a private corporation acquired by
publicly traded Praxis Pharmaceuticals early this year. Patch
trades under the symbol PAII. It is also listed on
the Berlin Bremen Stock Exchange where it trades under the
symbol PQG.
In addition to its major investment interest in Pharmaxis
Ltd. (PXS: Australian Stock Exchange) where it is one of the
largest shareholders, along with CIBC, HSBC, and the Rothschild
Group, Patch is involved in oil and gas projects in Saskatchewan,
Texas, and the East Corning area in Northern California. Also,
the company is involved globally in Ukraine, where it is in
the final stages of talks to develop several oil and gas wells
in conjunction with the Ukrainian government.