VANCOUVER, British Columbia, Canada, Dec. 11, 2003 (PRIMEZONE) -- Dr. John Todd, president of ProtoKinetix, Inc.(OTCBB:PKTX), announces today that the company has signed a Letter of Intent with Perigene Inc., whereby Perigene has been contracted to conduct the research to develop a catalytic antibody against the RECAF receptor site. Perigene acquired the world wide rights to the abzyme technology from France's University of Compiegne, headed up by Dr. Daniel Thomas. Dr. Thomas is a world recognized leader in advanced antibody development.
This program is scheduled to commence upon the completion of the validation trials conducted by the Georges Pompidou Hospital in Paris. Dr. Patrick Barnabe, Vice President of Research and Development for Perigene, has expressed confidence in their ability to work with the University of Compiegne in developing this catalytic antibody against RECAF.
A catalytic antibody will destroy the target that it binds to with the potential for the first broad spectrum monoclonal antibody cancer therapy. This agreement will be ratified before the year end.
About ProtoKinetix:
ProtoKinetix Inc. is a therapeutic development company whose mission is to develop effective biological therapeutics for the treatment of malignancies. The company is focused on a new generation of monoclonal antibodies termed "Super-antibodies". These antibodies are engineered to provide higher potency and resiliency resulting in vastly enhanced therapeutic impact. ProtoKinetix will use this technology to create therapeutic antibodies to help in the treatment of cancer.
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.
On behalf of the Board of Directors, Dr. John Todd, President
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