VANCOUVER, British Columbia, Canada, Feb. 2, 2004 (PRIMEZONE) -- ProtoKinetix Inc. (OTCBB:PKTX) is excited to announce that it has entered into an exclusive agreement with the University of Michigan under which the Company has an exclusive option to license and develop certain fields of therapeutic products against breast cancer based upon the Mammastatin molecule, discovered by the University of Michigan. Dr. John Todd, president of ProtoKinetix, conducted compassionate clinical trials using Mammastatin that, in several cases, resulted in the reduction of breast cancer tumor mass.
The Company intends to replicate the binding site of the Mammastatin molecule, which we believe will mimic the mechanism of action of the Mammastatin protein. More detailed information on this research will be announced shortly.
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