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Prospect Therapeutics' In Vitro Studies Demonstrate that GCS-100 Drug Binds to and Blocks the Effects of Galectin-3
Date:6/15/2009

WELLESLEY HILLS, Mass., June 15 /PRNewswire/ -- Joseph F. Finn, Jr., C.P.A. ("Finn") announced today that in vitro studies have demonstrated that GCS-100 binds to and blocks the effects of galectin-3. Galectin-3 plays an important role in tumor cell survival, new blood vessel growth, cell proliferation and tumor metastasis, which is the spread of cancer beyond its primary site. As a result, this product candidate may have multiple benefits in combating cancer cells, including:

  • Induction of apoptosis

  • Inhibition of angiogenesis

  • Inhibition of cancer cell proliferation

  • Inhibition of metastasis

The intellectual property, regulatory dossier, fixed assets and clinical inventory of Prospect will be sold at auction on Monday, June 29, 2009 at 12:00 noon.

Persons interested in bidding must sign a Confidentiality Agreement ("CA") obtained from Finn's Office - jffinnjr@earthlink.net or 781-237-8840. They will then receive a bid package.

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.

For further information, please contact Joseph F. Finn, Jr., C.P.A. at 781-237-8840 or jffinnjr@earthlink.net or visit the website at www.finnwarnkegayton.com


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SOURCE Joseph F. Finn, Jr., C.P.A.
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