Meditech's Viraplex(R) Test Drug for Cancer Overcomes Hurdle
|An SI Board Since June 1998|
SCOTTSDALE, Ariz., June 1 /PRNewswire/ -- Meditech Pharmaceuticals Inc. (OTC Bulletin Board: MTCH - news) said researchers at the School of Pharmacy at the University of London have now successfully developed a new form of the drug Viraplex(R), which renders it soluble. Meditech has been developing this drug for over 12 years including testing done by the National Cancer Institute (NCI) for the treatment of certain types of cancers.
The UK researchers who have been working on this project have now prepared a proposal to produce a sufficient quantity of the reformulated compound for two simultaneous testing programs.
Viraplex(R) gave positive in vitro results against several forms of cancer, including breast, prostate and lung tumors. The in vivo tests proved inconclusive due to solubility problems which made it difficult to administer a therapeutic dose to the human tumor cells that had been implanted in the test animals. Because an optimal serum level could not be achieved, the drug was not at that point of its dose-response curve where it earlier had been shown to be effective against these tumors. It appears that the problem has now been solved.
First, Meditech will provide NCI with enough of the soluble form of the drug to resume testing. If this form of the drug maintains its efficacy, it will be retested in the animal studies. It is anticipated that the costs of these tests will likely be construed by NCI.
Second, Meditech wishes to retest this new formulation of the active ingredient in Viraplex(R) against the Herpes simplex virus in animal studies. Colleagues of our principal researcher at the London School of Pharmacy who have experience in designing and conducting such tests are now estimating the costs and timing of these tests. Meditech has been told to expect their proposals later this year.
Some additional funding will be required to underwrite the ongoing research in the United Kingdom.
Meditech's future results of operations and other forward looking statements contained in this document involve a number of risks and uncertainties. Factors which could cause results to differ materially include business conditions, the general economy, competitive activity, government regulation, failure to achieve necessary funding support as well as others.
SOURCE: Meditech Pharmaceuticals, Inc.