NEW YORK, April 11 /PRNewswire-FirstCall/ -- Safetek International, Inc. today announced that it is preparing to develop a new selective muscarinic receptor antagonist for treatment of over active bladder (OAB). OAB affects about 34 million men and women in the United States, with an estimated economic impact of $12.6 billion in 2000.
OAB is a common chronic medical condition that is caused by inappropriate contraction of the bladder muscle (which is controlled by the M3 muscarinic receptor) and characterized by symptoms of urgency (the urgent need to empty the bladder), frequency (frequent urination) and urge urinary incontinence (sudden loss of bladder control). It is as prevalent as chronic diseases such as arthritis, allergic rhinitis, and sinusitis, and more prevalent than heart disease, asthma, diabetes, and peptic ulcer. No precise cause for OAB has been identified and it does not appear to be a consequence of aging. Current pharmacological treatments tend to cause unpleasant side effects.
“Almost half the people with overactive bladder do not seek treatment for this condition and many of those who do remain unsatisfied,” said Amnon Presler, CEO of Safetek. As we purchase advanced biological muscarinic receptors vectors and cell lines, we believe we will have the potential to combine selective muscarinic activity with a low incidence of side effects, particularly those affecting the central nervous system. By significantly reducing the common side effects of even recently released therapies, we can bring unique benefits to the many patients whose needs are not currently being met.”
Safetek is currently preparing its research and development plan for its first muscarinic receptor antagonist compound. Although the company does not have adequate resources to develop the compound, the company intends to finance its operations by private placements, stock and debt issuances and other financial arrangements. There are currently no plans or arrangements regarding any of the foregoing.
About Safetek
Safetek International Inc. is a U.S. biopharmaceutical company dedicated to the development of novel healthcare products in areas of critical need. The company is currently in the final lead optimization phase of its first licensed compound - an anticoagulant thrombin inhibitor for prevention of strokes in patients with atrial fibrillation and prevention and treatment of venous thromboembolism (VTE). For more information, please visit www.oriensls.com.
Certain information contained in this Press Release is considered forward looking statements. Investors and prospective investors are cautioned about significant factors which have in some cases affected our actual results and are in the future likely to affect our actual results and cause them to differ materially from those expressed in any such forward-looking statements. This Press Release contains forward-looking statements relating to future operational and business prospects. The Company’s results may be affected by, among other factors, the inability to raise sufficient funding,,lack of capital to commence research and development and commercialization of the compound, inadequate results of the R&D, lack of marketability, operating costs, advertising and promotional efforts, the existence or absence of adverse publicity, changes in business strategy or development plans, the ability to retain management, availability, terms and deployment of capital; business abilities and judgment of personnel, availability of qualified personnel, changes in, or failure to comply with various government regulations and slower than anticipated completion of research and development project. Actual results may also differ as a result of factors over which we have no control, including general economic and business conditions; effects of war or terrorists acts on the capital markets or the Company’s activities.
Contact: Dr. Shay Goldstein Telephone: +1-877-818-0919 Fax: +972-3-5613465 Email: info@oriensls.com
Safetek International Inc
CONTACT: Contact: Dr. Shay Goldstein, Telephone: +1-877-818-0919, Fax:+972-3-5613465, Email: info@oriensls.com
