WELLESLEY HILLS, Mass., May 26 /PRNewswire/ -- Joseph F. Finn, Jr., C.P.A. ("Finn"), announced today that there has been promising initial interest from pharma companies in the intellectual property of Prospect Therapeutics, Inc. ("Prospect").
In preclinical studies, GCS-100 inhibited blood vessel formation in a variety of cancer models. Development and growth of solid tumors requires new blood vessel growth, or angiogenesis, to deliver oxygen and nutrients to a tumor. Galectin-3 also plays an important role in stimulating angiogenesis in a variety of tissues.
The intellectual property, regulatory dossier, fixed assets and clinical inventory will be sold at auction on Monday, June 29, 2009 at 12:00 noon.
About Prospect Therapeutics, Inc.
Prospect's lead product candidate, GCS-100, is a carbohydrate molecule designed to inhibit the activity of Galectin-3, a protein found in high concentration in a broad range of human cancers and whose over-expression is associated with poor prognosis in cancer patients.
About Joseph F. Finn, Jr., C.P.A.
Joseph F. Finn, Jr., C.P.A. is the founding partner of the firm, Finn, Warnke & Gayton, Certified Public Accountants of Wellesley Hills, Massachusetts. He works primarily in the area of management consulting for distressed enterprises, bankruptcy accounting and related matters, such as assignee for the benefit of creditors and liquidating agent for a corporation. He has been involved in a number of loan workouts and bankruptcy cases for thirty-five (35) years. His most recent Assignment for the Benefit of Creditors in the biotech field was Spherics, Inc. and ActivBiotics, Inc.
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