Healthcare Industry News: Celsion
News Release - September 29, 2006
Celsion Obtains from Valentis Exclusive Rights to Pegylation Patents for use with Heat Activated LiposomesCOLUMBIA, Md.--(HSMN NewsFeed)--Celsion CORPORATION (AMEX:CLN ) announced today that it has acquired exclusive worldwide rights for use of pegylation technology with its heat activated liposome technology. The pegylation technology was developed by scientists at PolyMASC in the UK and is covered by granted patents and subsequent patent applications now owned by Valentis Inc. of Burlingame, CA. Celsion's heat activated liposome technology was developed by scientists at Duke University and is covered by granted patents and subsequent patent applications and was exclusively licensed by Celsion in 1999.
Dr Lawrence Olanoff, Celsion's President and Chief Executive Officer stated, "We are very pleased to have acquired exclusive rights to this technology for the field of heat activated liposomes. Acquisition of this technology further strengthens our heat activated liposomal patent portfolio and, additionally, prevents others from commercializing similar heat activated liposomes reliant on this technology."
Celsion is currently involved in several ongoing clinical studies with ThermoDox(TM), its heat activated liposomal encapsulation of doxorubicin HCl, for treatment of various cancers including liver and breast cancer.
ABOUT Celsion: Celsion Corporation, based in Columbia, Maryland, is a biotechnology company dedicated to the development and commercialization of heat activated treatment systems for cancer.
Celsion has research, license or commercialization agreements with leading institutions such as the National Institute of Health, Duke University Medical Center, Massachusetts Institute of Technology, Harbor UCLA Medical Center, Montefiore Medical Center and Memorial Sloan-Kettering Cancer Center in New York City, Roswell Park Cancer Institute in Buffalo, New York, and Duke University. For more information on Celsion, visit our website: www.Celsion.com.
Celsion wishes to inform readers that forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, unforeseen changes in the course of research and development activities and in clinical trials by others; possible acquisitions of other technologies, assets or businesses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.