Message #15 From:
NewsBot Date: October 11, 2006 06:15:00 AM
PYTO News Global Pharmacology Expert Joins PhytoMedical
PRINCETON, N.J.--(BUSINESS WIRE)--PhytoMedical Technologies, Inc. (OTCBB:PYTO) (FWB:ET6) announced today
the addition of pharmacology researcher and drug discovery and
development expert, Dr. Jay R. Wiggins, to the Company’s
Scientific Advisory Board.
“The addition of Dr. Jay R. Wiggins to our
Advisory Board is part of our ongoing effort to continue strengthening
PhytoMedical’s research, management, and
advisory groups, all in the interest of assembling the best possible
team to help move our compounds towards commercialization,”
commented Mr. Greg Wujek, President and CEO of PhytoMedical
Technologies, Inc.
On September 19, 2006, PhytoMedical announced the appointments of Mr.
Gary Branning, Managing Partner and Sr. Vice President of Managed Market
Resources and Mr. Rick A. Henson, Vice President, Sales, Vernalis
Pharmaceuticals, Inc. to the Company's Board of Directors. Together, the
two senior pharmaceutical executives bring over 50 years of combined
experience in every facet of drug development and commercialization,
ranging from grooming early-stage startups for successful acquisition,
to working with Fortune 500 pharmaceutical corporations.
“Dr. Wiggins is an excellent resource for our
team, bringing more than 20 years experience in drug discovery, clinical
development, pharmacology, and the drug approval process in the United
States and Europe,” explained Mr. Wujek.
Dr. Jay R. Wiggins’ expertise includes
managing pre-clinical drug discovery efforts from identification of lead
compounds with associated patents, through Investigational New Drug
(IND) filings with the FDA and other regulatory authorities.
Dr. Wiggins is responsible for strategic direction, protocol design,
analysis and writing of clinical study reports, preparation of
literature reviews, and IND, NDA, and CTD submissions, among other
responsibilities in his role as Director, Medical Development Group at
Berlex, Inc., a division of Schering AG. Schering is a leading,
research-based pharmaceutical company, established in 1851 and today
boasting global operations through 150 subsidiaries and annual sales of
5.3 billion euros.
Previously, Dr. Jay R. Wiggins served as Associate Director, Department
of Pharmacology, at Berlex and was an Associate Professor at the
University of South Florida College of Medicine, Department of
Pharmacology and Therapeutics.
Dr. Wiggins is a research expert in cardiovascular biology and medicine,
and accredited with more than 40 publications in peer-reviewed,
industry, and clinical research journals.
Dr. Jay R. Wiggins, earned his Bachelor of Science (BS) degree in
Biology cum laude and with departmental honors from Bucknell University,
and his Doctoral (PhD) degree in Pharmacology from Columbia University.
About PhytoMedical Technologies, Inc.
PhytoMedical Technologies, Inc. (OTCBB:PYTO) (Frankfurt Stock
Exchange:ET6), together with its wholly owned subsidiaries, is an early
stage research based biopharmaceutical company focused on the
identification, acquisition, development and eventual commercialization
of innovative plant derived pharmaceutical and nutraceutical compounds
targeting cachexia, obesity and diabetes.
An estimated 300 new drugs of world-wide importance, worth over $150
billion, still remain to be discovered amongst the 250,000 species of
higher plants found on earth, of which less than 15% have been
investigated for bioactive compounds. Presently, twenty of the best
selling drugs come from natural sources and 25% of all prescription
drugs contain active compounds originally derived from or patterned
after compounds derived from plants.
BDC-03 Successful in Increasing Lean
Muscle Mass and Reducing Body Fat Percentage
Named BDC-03, PhytoMedical’s first plant
derived compound has pharmacologically active elements that have been
successful in reducing body fat percentage, increasing lean muscle mass
and lowering cholesterol in a study of growing animals.
For obese or overweight individuals, BDC-03’s
potential capacity to decrease the deposition of fat and lower
cholesterol would be a vitally important therapeutic outcome. However,
its prospective ability to induce overall weight gain in the form of
lean muscle mass may well be the difference between life and death for
individuals suffering from cachexia.
Cachexia, which is characterized by dramatic weight loss, not only of
fatty tissue, but also muscle tissue and bone, is among the most
devastating and life-threatening aspects of AIDS and cancer. Once the
body loses 30% of its lean muscle mass, major organs are affected,
resulting in death.
Sadly, cachexia afflicts 25% of all AIDS patients and upwards of 90% of
all advanced cancer patients. In fact, half of all cancer related deaths
are a result of cachexia, not the cancer itself.
Polyphenolic Compounds Increase Sugar
Metabolism by a Factor of 20
Diabetes, which results from the body’s
inability to produce enough insulin or use it efficiently, affects 18.2
million people in the United States, or 6.3% of the population (American
Diabetes Association). The Centers for Disease Control and Prevention
expects this number to rise to over 30 million by 2030. As the leading
cause of end-stage renal disease, blindness and lower limb amputations,
diabetes now costs the health care system over $132 billion each year –
nearly one out of every ten health care dollars spent in the United
States.
While the causes of diabetes are not entirely clear, it is known that
diet plays a key role in the prevention and cure of diabetes. In fact,
research studies have shown that aqueous extracts of the most commonly
consumed spice, cinnamon, improves the action of insulin and helps to
control risk factors associated with diabetes including, glucose,
insulin, cholesterol, triglycerides and related variables.
A study published in Diabetes Care, a journal of the American Diabetes
Association, showed that as little as one gram a day of cinnamon –
one-fourth of a teaspoon twice a day – can
lower blood sugar by an average of 18 to 29 percent, triglycerides
(fatty acids in the blood) by 23 to 30 percent, LDL (or “bad”)
cholesterol by 7 to 27 percent and total cholesterol by 12 to 26
percent. Changes in HDL (“good”)
cholesterol were not significant. Amazingly, the study found that the
beneficial effects of cinnamon lasted for at least 20 days after people
stopped taking it.
Through a Cooperative Research and Development Agreement, PhytoMedical
is working towards synthesizing the active components found in cinnamon
and characterizing their beneficial health effects in cell cultures
systems, animals and ultimately humans.
At present, the Company does not currently have commercial products
intended to diagnose, treat, cure or prevent any disease. The statements
contained in this press release regarding our ongoing research and
development and the results attained by us to-date have not been
evaluated by the Food and Drug Administration.
No statement herein should be considered an offer or a solicitation of
an offer for the purchase or sale of any securities. This release
contains forward-looking statements that are based upon current
expectations or beliefs, as well as a number of assumptions about future
events. Although the Company believes that the expectations reflected in
the forward-looking statements and the assumptions upon which they are
based are reasonable, it can give no assurance that such expectations
and assumptions will prove to have been correct. Forward-looking
statements, which involve assumptions and describe our future plans,
strategies, and expectations, are generally identifiable by use of the
words “may,”“will,”“should,”“could,”“expect,”“anticipate,”“estimate,”“believe,”“intend,” or “project”
or the negative of these words or other variations on these words or
comparable terminology. The reader is cautioned not to put undue
reliance on these forward-looking statements, as these statements are
subject to numerous factors and uncertainties, including but not limited
to adverse economic conditions, intense competition, lack of meaningful
research results, entry of new competitors and products, adverse
federal, state and local government regulation, inadequate capital,
unexpected costs and operating deficits, increases in general and
administrative costs, termination of contracts or agreements,
technological obsolescence of the Company's products, technical problems
with the Company's research and products, price increases for supplies
and components, litigation and administrative proceedings involving the
Company, the possible acquisition of new businesses or technologies that
result in operating losses or that do not perform as anticipated,
unanticipated losses, the possible fluctuation and volatility of the
Company's operating results, financial condition and stock price, losses
incurred in litigating and settling cases, dilution in the Company's
ownership of its business, adverse publicity and news coverage,
inability to carry out research, development and commercialization
plans, loss or retirement of key executives and research scientists,
changes in interest rates, inflationary factors, and other specific
risks. We currently have no commercial products intended to diagnose,
treat, prevent or cure any disease. The statements contained in this
press release regarding our on going research and development and the
results attained by us to-date have not been evaluated by the Food and
Drug Administration. There can be no assurance that further research and
development, and /or whether clinical trial results, if any, will
validate and support the results of our preliminary research and
studies. Further, there can be no assurance that the necessary
regulatory approvals will be obtained or that PhytoMedical will be able
to develop commercially viable products on the basis of its
technologies. In addition, other factors that could cause actual results
to differ materially are discussed in the Company's most recent Form
10-QSB and Form 10-KSB filings with the Securities and Exchange
Commission. These reports and filings may be inspected and copied at the
Public Reference Room maintained by the U.S. Securities & Exchange
Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain
information about operation of the Public Reference Room by calling the
U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S.
Securities & Exchange Commission also maintains an Internet site that
contains reports, proxy and information statements, and other
information regarding issuers that file electronically with the U.S.
Securities & Exchange Commission at http://www.sec.gov.
The Company undertakes no obligation to publicly release the results of
any revisions to these forward looking statements that may be made to
reflect the events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.
