Message #16 From:
NewsBot Date: December 4, 2006 06:15:00 AM
PYTO News PhytoMedical to Fast Track Development of New Class of Drug for Type-2 Diabetes
PRINCETON, N.J.--(BUSINESS WIRE)--PhytoMedical Technologies, Inc. (OTCBB: PYTO) (FWB: ET6) today announced
plans to expedite the development of its new class of cinnamon-derived ‘polyphenolic’
compounds, which possess unique antioxidant and insulin enhancing
qualities, distinct from existing classes of drugs for diabetes.
In a published study of type-2 diabetes patients, these polyphenolic
compounds significantly reduced blood sugar levels by an average of 18
to 29 percent, triglycerides (fatty acids in blood) by 23 to 30 percent,
LDL (or “bad”)
cholesterol by 7 to 27 percent, and total cholesterol by 12 to 26
percent. Unlike currently available classes of drugs, there were no side
effects reported in the study.
“Our ongoing test results, along with the
outcomes of a published study and other studies published by independent
scientists have given us the confidence to fast track the development of
our lead type-2 diabetes compound,” states Mr.
Greg Wujek, President and CEO of PhytoMedical Technologies.
“Our initial research and development work has
been conducted pursuant to a three-way Cooperative Research and
Development Agreement (CRADA) with Iowa State University and the USDA's
Agricultural Research Service, which was critical to the evolution of
our development ,” continued Mr. Wujek.
“Now, in order to move our compound to the
next level, we will conclude our CRADA effective February 1, 2007, and
undertake our active diabetes drug development at an experienced, well
respected pharmaceutical development facility. This move enables
PhytoMedical to expedite our pursuit of an Investigational New Drug
(IND) application with the FDA which, if approved, will allow us to
initiate Phase 1 human studies.”
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.
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.
