VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 26, 2009) - Advanced Proteome Therapeutics Corporation (TSX VENTURE: APC) (the "Corporation" or "APC") announces that it has granted stock options to one employee and two consultants to purchase up to an aggregate of 250,000 common shares of the Corporation, exercisable at a price of $0.30 per share for ten years, subject to regulatory approval. The options will be subject to a four month hold period and are granted in accordance with the Corporation's Stock Option Plan and the vesting provisions contained therein.
The Corporation filed its interim financial statements together with related management's discussion and analysis for the nine month period ended April 30, 2009 with the British Columbia and Alberta Securities Commissions on June 25, 2009, which are available for viewing on www.sedar.com. Highlights of the Corporation's report include reference to its subsidiary, Advanced Proteome Therapeutics Inc. (APTI), which in conjunction with its partner, Atreus Pharmaceuticals Corporation of Ottawa, Canada, advanced into development a conjugate between 1,4,7-triazacyclononane-1,4,7-triacetic acid (NOTA) and recombinant human annexin V. This entity is undergoing testing in a number of institutions for its potential as a diagnostic imaging agent. The NOTA-annexin V conjugate is a potential in vivo imaging biomarker that will be evaluated for response to therapy of anti-inflammatory diseases and cancer on a patient-by-patient basis.
Advances in proprietary technology have enabled the generation of three additional conjugates that are of interest as potential diagnostic imaging agents as well as a number of other commercially attractive prospects which are the subject of filings for patent applications. APTI believes its linkage technologies can provide entry to diverse areas of commercial interest that hitherto have not been readily accessible to strategies that are designed to modify proteins chemically.
The Corporation further announces that it has terminated, effective June 1, 2009, the Investor Relations Agreement dated June 1, 2007 wherein Encompass Communications Inc. of Vancouver, British Columbia, was engaged to provide investor relations services to the Corporation. The Corporation is thankful for the services they have provided.
About Advanced Proteome Therapeutics Corporation:
APC's primary corporate 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 for commercially relevant applications. The market for 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.
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.