CHARLOTTE, N.C., Oct. 18, 2005 (PRIMEZONE) -- Chelsea Therapeutics, Inc. (OTCBB:CHTP) is scheduled to present at the Third Annual PIPEs Conference 2005 being held in New York City at The Waldorf-Astoria on October 26 and 27. Chelsea will present at 11:00 AM, 1:30 PM and 2:30 PM EDT on Thursday, October 27.
Dr. Simon Pedder, President and CEO of Chelsea Therapeutics, Inc., 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.
"We are pleased to be a part of the PIPEs Conference 2005 and believe it is a valuable opportunity to highlight the strengths of our company and development pipeline to a pool of influential, small cap investment professionals," said Dr. Simon Pedder.
The PIPEs Conference 2005 brings together investors, investment bankers, attorneys, company executives, and industry analysts active in the small cap equity market to discuss private investments in public equity, structured finance opportunities, and small cap investing. The conference includes CLE-accredited workshops, roundtables, and presentations from leading industry professionals. Additional information about the event can be found at www.thepipesconference.com
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. CH-1504 continues successful progress in its development as a treatment for RA, psoriasis, IBD, cancer and other immunological disorders. RA affects approximately two million Americans, almost 1% of the population, and is two to three times more prevalent in women than men. Psoriasis, another condition that may be positively impacted by treatment with CH-1504, is an immune-mediated chronic skin disease that also affects millions of Americans.
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 was not conducted in compliance with the standards necessary for its use in the U.S. regulatory approval process, the results of this study suggest that CH-1504 has lower toxicity and improved tolerability, as well as increased effectiveness versus methotrexate. Preclinical animal models have also indicated that CH-1504 may have superior efficacy and less toxicity than methotrexate, which currently accounts for almost half of the prescriptions written for the RA market.
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.