Napro Biotherapeutics (NASDAQ:NPRO)
Historical Stock Chart
From Jun 2019 to Jun 2024
![Click Here for more Napro Biotherapeutics Charts. Click Here for more Napro Biotherapeutics Charts.](/p.php?pid=staticchart&s=N%5ENPRO&p=8&t=15)
NaPro Awarded Phase I SBIR Grant for Research on Muscular Dystrophy
BOULDER, Colo., Dec. 4 /PRNewswire-FirstCall/ -- NaPro BioTherapeutics, Inc.
today announced that it has received a Small Business Innovation Research (SBIR)
award from the National Institute of Neurological Disorders and Stroke of the
National Institutes of Health (NINDS/NIH) to use its gene editing technology to
address inherited mutations in animal models of Duchenne muscular dystrophy
(DMD).
NaPro will be targeting the existing mutant DMD gene with specifically designed
proprietary oligonucleotides, which pair with, and direct, a muscle cell's
natural repair mechanism to correct the inherited chromosomal defect. Initial
studies will focus on dystrophinopathies in muscle tissue of murine and canine
models of DMD.
Frank Tagliaferri, PhD, Director of Preclinical Development at NaPro and
Principal Investigator for this work commented, "NIH funding of NaPro in this
area of research is enormously appreciated and represents an added source of
recognition for our gene editing technology. This grant allows us to expand the
therapeutic application of our technology to include not only hematologic and
neurologic disorders, which we are currently working on, but also to include
inherited mutations in muscle disorders as well."
About Duchenne Muscular Dystrophy
Duchenne muscular dystrophy is caused by a mutation on the X-chromosome whereby
the protein dystrophin cannot be produced. This protein is necessary for normal
muscle function to occur. The absence of dystrophin leads to progressive muscle
wasting and weakness in the arms, legs, and trunk. The heart and respiratory
muscles may also be affected. This is a hereditary disease affecting almost
exclusively males and is usually fatal by 20-24 years of age. Approximately 1
in 3,300 males suffers from this disease in the United States.
About NaPro BioTherapeutics
NaPro BioTherapeutics, Inc. is a life science company focused on the development
of therapies for the targeted treatment of cancer and hereditary disease.
For more information about NaPro and its technologies, visit NaPro's web site at
http://www.naprobio.com/.
Forward Looking Statements
The statements in this news release that are not historical facts are
forward-looking statements that represent management's beliefs and assumptions
as of the date of this news release, based on currently available information.
Forward-looking statements can be identified by the use of words such as
"believes," "intends," "estimates," "may," "will," "should," "anticipated,"
"expected" or comparable terminology or by discussions of strategy. Although
the Company believes that the expectations reflected in such forward-looking
statements are reasonable, it cannot assure that these expectations will prove
to be correct. Such statements involve risks and uncertainties including: risks
associated with development of the genomics, gene editing and targeted
businesses, including competition from companies in similar businesses,
limitations on the ability to market products because of the intellectual
property rights of third parties, the ability to obtain, maintain and enforce
patents; the risk that the transaction announced with Faulding Pharmaceutical
Co. may not close because it is not approved by stockholders or otherwise or may
be materially delayed; the costs of continuing development of any or all of the
Company's development programs; the timing of when those programs will enter the
clinic; the successful commercialization of the Company's platform technologies;
the fact that the Company's business will require substantial additional
investment that the Company has not secured; and the risk that the cash proceeds
from the Faulding transaction, if realized, will not be sufficient to fund the
Company's strategic plans for the initial development new proprietary
therapeutic candidates; and all of those factors identified under the captions
"Risk Factors," "Special Note Regarding Forward Looking Statements" or
"Cautionary Note Regarding Forward Looking Statements" in the Company's
documents filed from time to time with the SEC, including the Company's
registration statement on Form S-3, as amended, dated August 8, 2003, its Annual
Report on Forms 10-K and 10-K/A for the year ending December 31, 2002 filed with
the SEC on March 27, April 30, August 8 and October 24, 2003, and its Quarterly
Report on Form 10-Q for the quarter ended October 1, 2003 filed with the
Securities and Exchange Commission on November 14, 2003. Should one or more of
these risks materialize (or the consequences of such a development worsen), or
should the underlying assumptions prove incorrect, actual results could differ
materially from those forecasted or expected. The Company disclaims any
intention or obligation to update publicly or revise such statements whether as
a result of new information, future events or otherwise.
Additional Information
In connection with the proposed sale of assets to Mayne Pharma (USA) Inc. (f/k/a
Faulding Pharmaceutical Co.), NaPro has filed a definitive proxy statement with
the Securities and Exchange Commission (SEC). Investors and security holders
are urged to read the definitive proxy statement as it contains important
information about NaPro, the proposed transaction and related matters.
Investors and security holders have access to free copies of the definitive
proxy statement and other documents filed with the SEC by NaPro through the SEC
website at http://www.sec.gov/. The definitive proxy statement and related
materials may also be obtained for free from NaPro by calling the company
contact listed below.
NaPro and its directors and executive officers may be deemed to be participants
in the solicitation of proxies in connection with the proposed transaction.
Information regarding the persons who may, under the rules of the SEC, be
considered to be participants in the solicitation of NaPro's stockholders in
connection with the proposed transaction is set forth in NaPro's proxy statement
for its 2003 annual meeting of stockholders, dated May 23, 2003 and filed with
the SEC on May 27, 2003. Additional information is set forth in the definitive
proxy statement on file with the SEC related to the proposed sale of assets.
For further information, please contact L. Robert Cohen, Vice President,
Investor Relations of NaPro BioTherapeutics, Inc., +1-212-218-8715.
DATASOURCE: NaPro BioTherapeutics, Inc.
CONTACT: L. Robert Cohen, Vice President, Investor Relations of NaPro
BioTherapeutics, Inc., +1-212-218-8715; or investors, Lilian Stern of Stern
Investor Relations, +1-212-362-1200; or media, Peter Steinerman,
+1-516-374-3031, for NaPro BioTherapeutics, Inc.
Web site: http://www.naprobio.com/