NEW YORK, MONTREAL and SAN DIEGO, CA, July 7 /PRNewswire-FirstCall/ - Canadian Bio Med Systems Inc., a subsidiary of ICBS Ltd., (OTCPK: ICBT), and Ocular Therapeutics Inc. of San Diego California, announced that Ocular Therapeutics has signed non-disclosure agreements with two of the largest pharmaceutical firms in the world. These unnamed companies are interested in a new treatment approach in the largest of the ophthalmic markets.
High Interest in a New Approach to Glaucoma Treatment
One of the reasons these large entities are so interested in this project is because of a recent article in the "Review of Ophthalmology" supports the development of a new class of glaucoma drugs now being tested by Canadian Bio Med Systems, Inc. (CBMS). The article was identified incorrectly as being from the "Survey of Ophthalmology" in an earlier release. The article entitled "Glaucoma Drugs: The Search for New Options" quotes David Epstein, MD, Chairman of Ophthalmology at
Glaucoma is caused by an increase of intraocular pressure within the eye. The new compound being developed by CBMS in conjunction with Ocular Therapeutics, Inc. of California, specifically targets a portion of the eye, Schlemm's Canal, which is critical in achieving aqueous outflow and lowering intraocular pressure. This novel approach to treatment may require application of the drug every three months, or even less often, rather that twice per day. It could revolutionize the treatment for glaucoma.
Dr. Epstein points out the commercial aspects of such a potential drug that improves aqueous outflow by saying that when such a drug is developed "you will see every major pharmaceutical company jump on the bandwagon and want to have an outflow drug". Further he says, "Then in retrospect, every one will say 'Why didn't we work on this drug sooner'".
CBMS is completing the studies required to enter into human clinical trials in centers both in the United States and Canada.
The drug for the treatment of glaucoma is being developed by Daniel Stamer, PhD and Ronald Heimark, PhD at the
NB. This news release includes statements that constitute forward-looking statements. Please be aware that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of any number of factors, including the risk factors contained in the Company's disclosure documents.
|SOURCE ICBS Ltd.|
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