XKEM, still at good entry, but starting to move fast.
I saw the news right before the bell.I worked my butt off to get in at .0261 early.
Xechem Receives a Broad U.S. Patent for Second Generation Paclitaxel
9/14/2004 6:30:00 AM
NEW BRUNSWICK, N.J., Sep 14, 2004 (BUSINESS WIRE) -- Xechem International, Inc. ( XKEM ) Xechem International, Inc., ("Xechem") announced today, that it has received its eighth U.S. patent related to Paclitaxel (TAXOL(R)). The United States Patent and Trademark Office has granted Xechem a broad patent # 6,765,015 B2 with 37 claims for the second generation paclitaxel. This patent award extends the validity of the patents granted in China, Australia, New Zealand and seven European countries including Austria, Belgium, Ireland, France, Germany, Switzerland and the United Kingdom. Xechem now has over 20 international and domestic patents covering Paclitaxel and next it's generation taxane analogs.
Paclitaxel was developed by the National Cancer Institute ("NCI"), National Institutes of Health ("NIH") and first marketed by Bristol Myers Squibb ("BMS") under the trade name TAXOL(R) for the treatment of ovarian cancer, thereafter breast cancer and Kaposi's Sarcoma.
Dr. Ramesh C. Pandey, Chairman and CEO said, "We are extremely pleased and excited that a very broad patent protection has now been granted in the United States, giving further recognition to our long standing achievement in the science of taxanes, which started with developing paclitaxel as a generic drug. We plan to explore other uses of these new analogs in the future, including areas such as the paclitaxel coated stent market."
Update On Xechem Anti-Trust Lawsuit Against Bristol Myers Squibb
On June 23, 2004, the Seventh Circuit Court of Appeals reversed the holding of the Federal District Court's earlier decision and rejected BMS' plea for summary judgment dismissal. The case has been returned to the United States District Court for the Northern District of Illinois for further consideration. Xechem's complaint alleges BMS violated both, the Clayton and Sherman Antitrust Act and as a result is seeking damages of $150 million dollars.
About Xechem
Xechem International, Inc., is a fully integrated biopharmaceutical company focusing on anti-cancer, anti-viral (including HIV/AIDS), anti-fungal and anti-bacterial products from natural sources including microbial and marine organisms. Some of the key areas of Xechem are development of phyto-pharmaceuticals and other proprietary technologies including those used in the treatment of Food and Drug Administration ("FDA") designated orphan diseases.
This news release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by safe harbors created thereby. Such forward-looking statements involve known and unknown risks, uncertainties, including: (i.) the ability of Xechem to successfully obtain a judgment against BMS in the referenced lawsuit and it is expected that BMS will present a forceful defense; and (ii.) the ability of Xechem to successfully launch NICOSAN(TM)/HEMOXIN(TM) or Paclitaxel. There can be no assurances that Xechem will prevail in its efforts. Other factors may cause the actual results, performance, or achievements of Xechem to be materially different from any future results, performance or achievements of Xechem expressed or implied by such forward-looking statements.
SOURCE: Xechem International, Inc
