CHARLOTTE, N.C., April 29, 2005 (PRIMEZONE) -- Chelsea Therapeutics, Inc. ("Chelsea") OTCBB:IVRC) has accepted an invitation to speak at the Rodman & Renshaw Techvest Global Healthcare Conference at 8:40 A.M. CEST Wednesday, May 4, at the Intercontinental Hotel in Paris. Chelsea is one of 160 public and private emerging growth biotechnology companies scheduled to present at the conference.
Dr. Simon Pedder, President and CEO of Chelsea Therapeutics, will provide a company overview, focusing on Chelsea's lead product candidate, CH-1504.
A live audio webcast of the presentation can be accessed on the investor relations page of the company's website, www.chelseatherapeutics.com. An audio replay of the presentation will also be available for 90 days after the conference.
About CH-1504
In March 2004, Chelsea acquired the worldwide rights to a set of antifolate compounds, including CH-1504. While Chelsea is researching several compounds within this library, its lead product candidate, CH-1504, continues successful progress in its development as a treatment for rheumatoid arthritis, or RA, psoriasis, cancer and other immunological disorders. An independent six-month pilot clinical study compared CH-1504 to methotrexate, or MTX, the current standard of care, in 20 RA patients. Although the pilot study will not be used as a part of the U.S. regulatory approval process, the results of this study indicate that CH-1504 has lower toxicity and improved tolerability, as well as increased effectiveness versus MTX, even among patients who had previously failed to demonstrate improvement with MTX treatment. MTX currently accounts for almost half of the prescriptions written for the RA market.
About Chelsea Therapeutics, Inc.
Chelsea Therapeutics is a biopharmaceutical development company that acquires and develops innovative products for the treatment of a variety of human diseases. Chelsea develops technologies that address important unmet medical needs or offer improved, cost-effective alternatives to current methods of treatment. Early clinical data suggests that Chelsea's lead product candidate, CH-1504, may support a safe and effective treatment for rheumatoid arthritis and may have further applications for psoriasis, certain cancers and other immunological disorders.
This press release contains forward-looking statements regarding future events. These statements are just predictions and are subject to risks and uncertainties that could cause the actual events or results to differ materially. These risks and uncertainties include risks and costs associated with our strategy to become publicly traded, including potential volatility and lack of liquidity of the market for our stock, as well as drug development, regulatory approvals, intellectual property risks, our reliance on our lead drug candidate CH-1504, competition, market acceptance for our products if any are approved for marketing, reliance on key personnel including specifically Dr. Pedder, management of rapid growth, and the need to acquire additional products.