BLUE BELL, PA May 8, 2003 -- InKine Pharmaceutical Company, Inc. (Nasdaq: INKP) today announced that the European Patent Office issued European Patent No. 858326 Non-Aqueous Colonic Purgative Formulations. The inventor of the patent was Craig A. Aronchick, M.D., a scientific co-founder of InKine. This patent covers Visicol&Mac226;, the Companys tablet purgative, which is currently indicated for cleansing of the bowel prior to colonoscopy and will be in-force until 2016. InKine is considering a variety of options for marketing and distributing Visicol&Mac226; in Europe.
This patent assures InKine the protection of having the only tablet formulation of sodium phosphate in Europe for at least thirteen more years, said Robert F. Apple, Chief Operating and Financial Officer. With the regulatory process already underway, we expect that Visicol&Mac226; could be available for sale in Europe as early as 2004, Mr. Apple added.
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.BLUE BELL, PA May 12, 2003 -- InKine Pharmaceutical Company, Inc. (Nasdaq: INKP) today announced that it will participate in the 7th annual Friedman Billings Ramsey Technology & Growth Investor Conference, to be held May 28-29, 2003 at the Millennium Broadway Hotel, 145 West 44th Street, New York, NY. Presenters at the conference include over 120 leading companies in technology. Leonard S. Jacob, M.D., Ph.D., Chairman and CEO of InKine, is scheduled to speak at 10:40 AM EDT on May 29, 2003 to discuss the Companys product portfolio, strategic initiatives and prescription trends.