Proteo Biotech AG
Proteo, Inc. / Proteo Biotech AG: Elafin shortens intensive care after surgery for esophagus cancer
Proteo Biotech AG / Key word(s): Study/Research Update Irvine, CA – Kiel, 23rd February 2011 – Proteo, Inc. (OTCBB: PTEO; Freiverkehr Frankfurt and Berlin WKN: 925981) and its wholly-owned subsidiary Proteo Biotech AG disclosed results of a Phase II clinical trial on the candidate drug Elafin today.
The effect of Elafin on the postoperative inflammatory reaction occurring in cancer patients whose esophagus has been removed was investigated at the University Hospitals in Kiel, Münster and Munich. This serious operation (esophagectomy), which lasts for several hours, carries the risk of numerous specific complications that generally result in a prolonged period of intensive care. The results of the trial show that intravenously administered Elafin has a very clear positive effect on the period of recovery: 63 percent of the Elafin treated patients required only one day of intensive care. All patients in the placebo group needed several days of postoperative intensive medical care. «These results have fully met our optimistic expectations», commented Birge Bargmann, CEO of Proteo Biotech AG. In January 2010, on recommendation of the European Medicines Agency (EMA), the European Commission granted Proteo Biotech AG «orphan drug status» for Elafin in the treatment of esophagus carcinoma.
Further information on the clinical development program for Elafin:
About Proteo: Forward-Looking Statements Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward looking statements and risks and uncertainties involved are further qualified by other factors including, but not limited to those set forth in the company's Form 10-K filing and other filings with the United States Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
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