NAPA, Calif., Nov. 7 /PRNewswire-FirstCall/ -- Senetek PLC , a life sciences product development company, today announced agreements with the Institute of Bioorganic Chemistry of the Polish Academy of Sciences in Poznan, Poland for the exclusive rights to anticancer technology for the treatment of brain tumors using interference RNA, as well as exclusive rights to three compounds for the treatment of skin aging.
The collaboration with the Institute of Bioorganic Chemistry of the Polish Academy of Sciences will provide Senetek three new compounds with differentiating benefits for treating skin aging and possibly other aging conditions through their use in licensed cosmeceutical, nutritional and prescription products.
In addition, Senetek has acquired the rights to technology developed by the Institute in cooperation with Department of Neurosurgery and Neurotraumatology University of Medical Sciences in Poznan, Poland for the treatment of human brain tumors using RNA interference to inhibit the production of tenascin-C, whose expression has been suggested to correlate with the grade of malignancy of brain tumors. Recently this new technology has been applied to the treatment of several patients with glioblastoma multiforme, a common form of brain tumor, with resounding success.
RNA interference has received a great deal of attention following the 2006 Nobel Prize award to two American scientists for the discovery of the molecular mechanism behind RNA interference. Scientists hope that these advances will lead to a new type of treatment for diseases such as cancer and AIDS.
Frank Massino, CEO and Chairman of Senetek, commented, “We are extremely excited about working with the Institute of Bioorganic Chemistry of the Polish Academy of Sciences and the opportunities that lie ahead with both the technology for the treatment of brain tumors and the compounds for the treatment of anti-aging of the skin.
“The current options for patients with brain tumors consist of treatments such as surgery and chemotherapy and/or radiotherapy; which have an average survival time of only 8 to 10 months. This new technology works not only to prolong the survival of patients suffering from brain tumors, but possibly to cure them as well.”
Mr. Massino added, “We believe that we have just begun to see the effectiveness of RNA treatment, and we look forward to our partnership with the Institute of Bioorganic Chemistry of the Polish Academy of Sciences to work together to discover the full potential of this breakthrough form of treatment.”
Under the terms of the collaborative agreement, Senetek will have rights for all applications of the in-licensed technologies in exchange for undisclosed royalty payments to be paid to the Institute upon commercialization.
About Senetek:
Senetek is a life sciences product development company with an extensive array of intellectual properties covering in excess of 2000 patented and patent applied for compounds and uses targeting the science of aging to include skincare and dermatological therapeutics, erectile dysfunction, nutrition and cancer.
The Company’s lead commercial product, Kinetin, is currently licensed and marketed by 14 pharmaceutical and cosmeceutical companies such as Valeant Pharmaceuticals and The Body Shop. In addition, the Company has entered into commercial arrangements for its proprietary anti-aging skincare compound, Zeatin, its patented combination drug treatment for erectile dysfunction, Invicorp(R), its novel drug delivery system, Reliaject(R) as well as its proprietary diagnostic monoclonal antibodies.
For additional information, please visit Senetek PLC’s Web site at http://www.senetekplc.com.
About The Polish Academy of Sciences:
The Polish Academy of Sciences is a state scientific institution founded in 1952. From the very beginning, it has functioned as a learned society acting through an elected corporation of top scholars and research organizations, via its numerous scientific establishments. It has also become a major scientific advisory body through its scientific committees.
Safe Harbor Statement:
This news release contains statements that may be considered ‘forward- looking statements’ within the meaning of the Private Securities Litigation Reform Act, including those indicating the financial outlook for fiscal 2006 and those that might imply commercial potential and successful evaluation and development of new compounds. Forward-looking statements by their nature involve substantial uncertainty, and actual results may differ materially from those that might be suggested by such statements. Important factors identified by the Company that it believes could result in such material differences are described in the Company’s Annual Report on Form 10-K/A for the year 2005. However, the Company necessarily can give no assurance that it has identified or will identify all of the factors that may result in any particular forward- looking statement materially differing from actual results, and the Company assumes no obligation to correct or update any forward-looking statements which may prove to be inaccurate, whether as a result of new information, future events or otherwise.
KCSA Contacts: Todd Fromer / David Burke 212-896-1215 / 1258 tfromer@kcsa.com / dburke@kcsa.com
Senetek PLC
CONTACT: Todd Fromer, +1-212-896-1215, tfromer@kcsa.com, or David Burke,+1-212-896-1258, dburke@kcsa.com, both for Senetek PLC
Web site: http://www.senetekplc.com/
