VANCOUVER, British Columbia, June 28, 2004 (PRIMEZONE) -- Dr. John Todd, President and CEO of ProtoKinetix, Inc. (OTCBB:PKTX) announced today that the company has entered into an agreement to purchase the AFGP (antifreeze glycoprotein) from Perigene, Inc. AFGP is a natural compound, which enables fish, reptiles and insects to survive freezing temperatures. Dr. Jean-Charles Quirion, a member of the ProtoKinetix Scientific Advisory Board working at the University of Rouen (France), has been able to synthesize the AFGP molecule in a stable form.
The purification of the AFGP from the teleost fish is a difficult and costly process, while the synthesis of this molecule is difficult because it is inherently unstable. Using a patented process, Dr Quirion was able to synthesize an AFGP molecule which is stable and keeps the same biological functions as the original molecule.
AFGP is a valuable molecule with many potential uses. It can enable low temperature preservation of cells, tissue and organs. This would enable extended hypothermic storage of platelets and human organs that are intended for transplantation. Oocytes stored in the presence of AFGP were as capable of normal maturation, fertilization and embryonic development as were freshly collected oocytes.
The ability of this molecule to enable the preservation of platelets for an extended period of time has the potential to make it a very valuable product. Platelets presently have an effective shelf life of 4 days, which makes it an expensive and difficult product for the blood banks and the blood supply groups to provide.
Apart from the conservation of biological molecules, ProtoKinetix is immediately starting a research and development program to assess also the potential use of AFGP molecules in cancer cryotherapies.
The final results of the third party RECAF(tm) validation trials being conducted by the George Pompidou Hospital on tissues from a broad spectrum of cancers are expected in the near future. Based on the positive preliminary results recorded, the company has commenced its research program on antibodies to the RECAF(tm) receptor site.
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