VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 02, 2010) - Advanced Proteome Therapeutics Corporation (TSX VENTURE: APC) (the "Corporation" or "APC") is pleased to announce that the European Patent Office (EPO) intends to grant a patent directed toward a "Method for identifying activated polymer complexes for secondary site-specific modification of protein target groups" (European Patent Application No: 04 702 918.6). The patent has been assigned to its subsidiary, Advanced Proteome Therapeutics Inc., by the inventor, Alexander Krantz, Ph.D.
The subject of the patent is a method for site-specifically modifying proteins. Site-specific modifications are usually necessary to prepare proteins for commercial use. The new patent describes a method for discovering novel protein sites for attaching entities which are likely to enhance the properties of proteins. The method consists of ensembles of specially designed molecules that are in competition to selectively modify protein molecules. The winning molecules are detected by their greater abundance at specific target sites.
Potential applications include the creation of entirely new classes of therapeutic proteins as well as new, improved versions of off-patent proteins that have achieved multi-billion dollar sales per annum. Over the past decade protein therapeutics has been the most dynamic sector of the pharmaceutical industry. The global protein therapeutics market registered a robust growth rate of over 14% in 2008.
The Corporation will also be presenting at BioTrinity 2010 in Newbury, Berkshire, England on April 14th. Alexander Krantz, President and CEO will present a profile of the Corporation reviewing its business strategy, technological advantages and recent progress.
BioTrinity 2010 is the Premier Biopartnering and Investment Conference in the UK and is Europe's fastest growing partnering conference with more investors than any other UK conference (BioTrinity 2010 is also a Massachusetts Biotechnology Council).
APC's primary corporate primary mission is to apply its proprietary drug delivery and drug redevelopment technologies to produce new, improved versions of therapeutic proteins and pioneer the emerging field of protein-site targeting. The market for diagnostics and therapeutic proteins and peptides is expected to surpass more than 50 Billion USD by the year 2010 and is the fastest growing segment of the pharmaceutical market. Future growth however depends largely on the industry overcoming a number of hurdles, including drug delivery challenges and the need for homogeneous conjugates that APC is attempting to address.
ON BEHALF OF THE BOARD
Alexander (Allen) Krantz, President and Chief Executive Officer
The forward-looking statements contained in this news release involve risks and uncertainties, and are subject to change based on various important factors including timely development and acceptance of new products, gaining product approval, successful entry into new markets, changes in financing conditions, and changes in FDA regulations.
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