Algene Achieves Optimal Sampling Milestone on Schizophrenia
MONTREAL, Canada, Dec. 4 --Algene Biotech Companies has anounced that
it has reached its first major milestone in conducting research with Janssen
Pharmaceuticals. For reaching this point, Algene has acheived an optimal
sample for their study, Janssen will pay them an unspecified sum of money.
Dr. Dennis Gauvreau, Chairman of the Board and CEO of Algene said that,
"the achievement of this milestone confirms our ability to work rapidly
and efficiently with the founder populations and to establish optimal sampling
for genetic studies...We are actually ahead of our schedule." He added
that, "it is more than a matter of sampling from founder populations
to obtain significant results in genetic studies. Beyond applying strict
clinical and pathological criteria, one must know how to analyze the data.
We now expect to conclude by early 1997 the next phase of the schizophrenia
program."
According to Dr. Gail Ouellette, also of Algene, "The results obtained
are promising for the next phases of our program on schizophrenia and could
lead to new developments in the search for the genetic causes of this important
disease."
Algene Biotechnologies Corporation works primarily on genetic technology
focusing on Alzheimer's disease, schizophrenia, migraine, and Parkinson's
disease. Their shares trade under the symbol AGN.B on the Montreal Exchange.
SOURCE Algene Biotechnologies Corporation
/CONTACT: Henri Harland, Vice-president, Corporate Development and Chief
Financial Officer, 514-340-3539, or harland@algene.com; or Eric Durand,
Director, Corporate Development, 514-340-3539, or ericd@algene.com, both
of Algene Biotechnologies Corporation/
(AGN.B.)
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