VANCOUVER, British Columbia, Aug. 12, 2003 -- ProtoKinetix, Incorporated (OTCBB:PKTX) makes its first announcement under its new name, management and symbol. The management of the Company would like to notify its shareholders of the current status and direction of the Company.
ProtoKinteix has been formed as a cancer therapeutic development company, headed by Dr. John Todd. ProtoKinteix has the license to use the SuperAntibody platform technology owned by InNexus Corporation (CDNX:IXS) of Seattle, Washington, under the leadership of Dr. Charles Morgan. Further, the Company has an agreement with BioCurex, Inc. (OTCBB:BOCX) to develop Super AntiBodies expressed against the RECAF receptor site.
It has been shown that the presence of alpha fetaprotein in the human body (other than in pregnant women) is a non-specific indicator of the existence of cancer in the system. Dr Ricardo Moro, of BioCurex, Inc. believes, as does ProtoKinetix, that the RECAF receptor site exists as a specific receptor site for alpha fetaprotein.
An arrangement to independently verify this claim has been coordinated by ProtoKinetix's scientific advisory board with a world-renowned research establishment in Europe. Following this study, ProtoKinetix will generate antibodies to the RECAF receptor site and identify those that are most specific to the RECAF site and which do not have an affinity to healthy cells.
The final conversion of the selected antibody to a humanized targeted killer antibody is a function of molecular engineering and, although technically complex, does not require any new ground breaking developments.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Some information included in this press release contains statements that are forward-looking. Such forward-looking information involves significant risks and uncertainties that could affect anticipated results in the future and, accordingly, these results may differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. For a description of additional risks and uncertainties, please refer to the Company's filings with the Securities and Exchange Commission. Specifically, investors should be cautious as ProtoKinetix, Incorporated is presently an underfunded, undercapitalized development stage biotechnology company. This presents tremendous risk to investors and existing and prospective investors should undertake a thorough due diligence process, as well as seek advice from a registered securities broker before considering an investment in this company.