CHARLOTTE, N.C., Nov. 1, 2005 (PRIMEZONE) -- Chelsea Therapeutics International, Ltd. (OTCBB:CHTP), has accepted an invitation to speak at the Rodman & Renshaw Techvest 7th Annual Healthcare Conference at 4:55 p.m. EST Monday, November 7th, at the New York Palace Hotel.
Dr. Simon Pedder, president and CEO of Chelsea Therapeutics, will provide a company overview and update on the status of its current clinical development programs, including the clinical trial of its lead compound, CH-1504.
A live webcast of the presentation can be accessed on the investor relations page of the company's website, www.chelseatherapeutics.com. The presentation will also be archived shortly after the live event and available online for 90 days following the conference.
About CH-1504
In March 2004, Chelsea acquired the exclusive rights to a number of antifolate compounds, including CH-1504, its lead product candidate. These compounds lack the specific metabolism associated with side effects known to occur with marketed antifolates such as methotrexate (MTX). Chelsea is continuing to develop CH-1504 as a treatment for RA, psoriasis, IBD, cancer and other immunological disorders.
An independent six-month pilot clinical study compared CH-1504 to methotrexate, the current standard of care, in 20 RA patients in Peru. Although the pilot study will not be used as a part of the U.S. regulatory approval process, the results of this study suggest that CH-1504 has lower toxicity and improved tolerability, as well as potentially increased efficacy versus methotrexate. Pre-clinical animal models have also indicated that CH-1504 may have superior efficacy and a greater therapeutics window than methotrexate. Methotrexate currently accounts for almost half of the prescriptions written for the RA market.
RA affects approximately two million Americans, almost 1 percent of the population, and the global market for pharmaceuticals to treat RA was estimated at $6.3 billion in 2004. MTX is currently the most commonly prescribed treatment for RA and had sales of approximately $500 million in 2004. Psoriasis, another condition that may be positively impacted by treatment with CH-1504, is an immune-mediated chronic skin disease that also affects more than 4.5 million Americans.
About Chelsea Therapeutics
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 of drug development; our history of losses and need to raise more money; 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 or develop additional products.