.

  FOR IMMEDIATE RELEASE
Contact:  

Robert F. Apple, Chief Operating Officer
InKine Pharmaceutical Company, Inc.
215-283-6850

Donald C. Weinberger
Wolfe Axelrod Weinberger Assoc. LLC
212-370-4500, 212-370-4505 fax
[email protected]


INKINE ANNOUNCES ACCEPTANCE OF THREE POSTER PRESENTATIONS
AT THE AMERICAN COLLEGE OF GASTROENTEROLOGY
68th ANNUAL SCIENTIFIC MEETING

 

BLUE BELL, PA July 22, 2003 -- InKine Pharmaceutical Company, Inc. (NASDAQ: INKP) today announced that three abstracts involving three InKine products have been accepted for presentation as posters at the 68th Annual Scientific Meeting of the American College of Gastroenterology, to be held at the Baltimore Convention Center from October 10 – 15, 2003.

One poster (No. 88 at the meeting) will be presented on October 12 by Martin Rose, M.D., J.D., InKine’s Executive Vice President for Research and Development. The poster describes the results of a randomized study in healthy volunteers of the laxative effects of one week of therapy of Visicol® tablets compared to Miralax®, the leading prescription laxative indicated for treatment of occasional constipation. In this study, the laxative effects of Visicol® were significantly greater and significantly more prompt than those of Miralax®, and electrolyte changes from baseline were similar for both products at the end of therapy. InKine is now conducting a trial of up to 28 days of therapy using Visicol® tablets to treat patients with idiopathic constipation or constipation-predominant irritable bowel syndrome (IBS).

“We are pleased that the American College of Gastroenterology has accepted for poster presentation three important developments in InKine’s product portfolio. Our franchise product, Visicol®, continues to gain acceptance in the colonoscopy marketplace. Most recent weekly unaudited prescription data once again demonstrated new all-time-highs in terms of both prescriptions filled and ethical market share. The results of the study of Visicol® for use as a laxative along with our current ongoing Phase IV clinical trial will be important in extending the Visicol® franchise beyond use in preparation for a diagnostic procedure into possible repeated use as a therapeutic agent,” said Leonard S. Jacob, M.D., Ph.D, Chairman and Chief Executive Officer of InKine.

About InKine Pharmaceutical
InKine Pharmaceutical Company, Inc. is a publicly traded biopharmaceutical company focused on the diagnosis and treatment of cancer and autoimmune diseases. The Company's development strategy is to acquire late-stage drug candidates with short time lines to commercialization. The Company's first product, Visicol™ is the first and only tablet purgative preparation indicated for bowel cleansing prior to colonoscopy. InKine's second product, IBStat™, is a novel oral hysocyamine spray for the treatment of Irritable Bowel Syndrome (IBS) and spasm of the colon. Additionally, the Company is developing other clinical compounds such as Colirest™, which is in clinical trials for the treatment of Crohn's disease and completed Phase II trials for the treatment of ulcerative colitis. For further information, please visit InKine on their web site http://www.inkine.com.

In addition to historical facts or statement of current condition, this press release may contain forward-looking statements. Forward-looking statements provide InKine's current expectations or forecasts of future events. These may include statements regarding anticipated scientific progress on its research programs, development of potential pharmaceutical products, interpretation of clinical results, prospects for regulatory approval, manufacturing development and capabilities, market prospects for its products, sales and earnings projections, and other statements regarding matters that are not historical facts. You may identify some of these forward-looking statements by the use of words in the statements such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe" or other words and terms of similar meaning. InKine's performance and financial results could differ materially from those reflected in these forward-looking statements due to general financial, economic, regulatory and political conditions affecting the biotechnology and pharmaceutical industries as well as more specific risks and uncertainties such as those set forth in its reports on Form 10-Q and 10-K filed with the U.S. Securities and Exchange Commission. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, you should not rely on any such factors or forward-looking statements. Furthermore, InKine does not intend (and it is not obligated) to update publicly any forward-looking statements. This discussion is permitted by the Private Securities Litigation Reform Act of 1995.