FAIRFIELD, Conn. Oct. 31, 2000 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that its licensee, Ribozyme Pharmaceuticals, Inc. (Nasdaq:RZYM) had participated in the presentation of information from collaborative studies of the company's anti-Hepatitis C ribozyme, Heptazyme(tm). Also, RZYM presented results of pre-clinical studies of the anti-Hepatitis B ribozyme product candidates demonstrating marked efficacy in animal models.
The presentation was made at the annual American Association for the Study of Liver Diseases (AASLD) meeting this week in Dallas by a team of scientists including Dr. Lawrence M. Blatt, Vice President of Research at RZYM.
Frank R. McPike, Jr., President of CTT said, "We continue to be encouraged by RZYM's significant progress, and their involvement in the studies on these two devastating worldwide diseases. Millions of individuals will be positively affected by the success of the scientists involved in this important work."
The Hepatitis C studies were designed to determine safety and tolerability and to examine pharmacokinetic characteristics of Heptazyme doses ranging from 0.3 mg to 90 mg per patient. The report presented indicated that Heptazyme was well tolerated at all doses given. Additionally, the pharmacokinetic analysis demonstrated excellent bioavailability of Heptazyme, and further supported the feasibility of self-administered daily subcutaneous injections. The studies support the approach of Heptazyme to specifically interrupt the replication of Hepatitis C virus, an approach not currently found in available treatments for this chronic illness.
Safety and pharmacokinetic results from the studies of Heptazyme were similar to those seen in Phase I/II trials with Angiozyme(tm), an anti-angiogenic ribozyme currently in development.
"We are pleased that Heptazyme has performed as we had hoped within the constraints of the trial designs," said Ralph E. Christoffersen, Ph.D., President & CEO of RZYM. "Additionally, we are honored that several of the world's top hepatologists will conduct Heptazyme Phase II clinical studies."
On October 29 an investigator meeting, including Dr. Myron Tong of the University of Southern California, Dr. Eugene Schiff of the University of Miami, Dr. Greg Everson of the University of Colorado at Denver, Dr. Don Jensen of Rush Presbyterian Hospital in Chicago, Dr. Steve Rossi of the University of California at San Francisco and Dr. John McHutchinson of Scripps Clinic, was held to review the upcoming Heptazyme Phase II clinical studies
At the Presidential Plenary session held today in Dallas, studies of the antiviral effects of Heptazyme in a cell culture viral replication system (HCV/poliovirus chimera) are being presented that show a high correlation between reduction in viral RNA and antiviral effects as measured by a plaque assay. These studies demonstrate the ribozyme mechanism of action and support the potential of Heptazyme as a therapy for chronic Hepatitis C patients.
In addition, RZYM reported in vivo activity of its anti-Hepatitis B ribozyme compounds. Using a murine model of Hepatitis B replication, studies demonstrated a statistically significant reduction in HBV viremia following subcutaneous administration of anti-HBV ribozymes. A dose-related response was observed and the magnitude of antiviral effects was similar to those seen for the control group (Lamivudine(r)). This presentation from RZYM was the recipient of the President's Choice Award at this year's AASLD conference.
Ribozymes are the product of Nobel Prize winning science and are synthetically engineered to act as "molecular scissors" capable of cleaving target RNA in a highly specific manner.
Competitive Technologies' licensee RZYM (www.rpi.com), located in Boulder, Colorado, is the acknowledged leader in ribozyme therapeutic development. RZYM has recently announced a ribozyme commercial development program to develop a ribozyme therapeutic against Hepatitis B. RZYM is partnered with Chiron Corporation for the development and commercialization of Angiozyme, an anti-angiogenic ribozyme designed to inhibit the growth of new blood supplies to tumors and prevent tumor growth and metastasis. Angiozyme is in Phase I/II clinical trials in cancer patients at the Cleveland Clinic. RZYM is also partnered with an affiliate of Elan Corporation plc for development of Herzyme(tm), an anti-HER-2 ribozyme for treatment of breast and other cancers, through RZYM's subsidiary Medizyme Pharmaceuticals Ltd.
About Competitive Technologies, Inc.
Competitive Technologies is a global leader in identifying, developing and commercializing innovative life sciences, physical sciences and digital technologies. Competitive Technologies' specialized expertise and experience make it a valuable partner for inventors, companies and universities of all sizes. CTT has been responsible for closing hundreds of licensing agreements. CTT clients and licensees include: Sony, Matsushita Electric Industrial, The University of Colorado, NTRU Cryptosystems, Inc., Palatin Technologies, Inc. and Ribozyme Pharmaceuticals, Inc. Competitive Technologies, Inc. is based in Fairfield, Connecticut and has affiliates in Osaka, Japan and London, England.
Statements about the Company's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts are "forward-looking statements" within the meaning of applicable Federal Securities Laws and are not guarantees of future performance. These statements involve risks and uncertainties related to market acceptance of and competition for the Company's licensed technologies and other risks and uncertainties inherent in CTT's business, including those set forth in Item 1 of the Company's Form 10-K for the year ended July 31, 2000 and other factors that may be described in CTT's filings with the SEC, and are subject to change at any time. The Company's actual results could differ materially from these forward-looking statements. The Company undertakes no obligation to update publicly any forward-looking statement.