EX-99.1 2 ex99_1.htm EXHIBIT 99.1 ex99_1.htm

EXHIBIT 99.1

PhytoMedical’s Anti-Cancer Compound  Development Advancing After a Series of Highly Favorable Test Results
 
PhytoMedical’s cancer research expanding on key compounds that have demonstrated elevated anti-cancer efficacy

Princeton, NJ – June 16, 2009 – PhytoMedical Technologies, Inc. (OTCBB: PYTO) (FWB: ET6), today announced the advancement of their anti-cancer compound research and development.  The culmination of a series of favorable test results conducted over several months have allowed the company to justifiably expand their cancer research efforts which includes the designing of an IV formulation of their key compound.

Cancer is the second leading cause of death in this country.  In the US, cancer accounts for 1 in every 4 deaths.  About 1.4 million new cases of cancer will be diagnosed in the United States and more than 560,000 people will die of the disease.  The National Institutes of Health estimated the costs of cancer at $228.1 billion in 2008.  In the near future it is expected that cancer costs may increase at a faster rate than overall medical expenditures.

In mid-year 2007, PhytoMedical began their cancer research after evaluating the unique anti-tumor work of Dr. Gordon Gribble of Dartmouth College.  Shortly after completing a Sponsored Research Agreement with Dartmouth College, PhytoMedical initiated, across a wide array of human cancer cell lines   a series of in vitro assays designed to evaluate the anti-cancer activity of several of Dr. Gribbles uniquely designed compounds.  The favorable outcomes generated a select list of compounds that comparatively demonstrated elevated anti-cancer activity. Based on these test results PhytoMedical elected to acquire the worldwide licensing rights to the existing and future anti-cancer compounds and simultaneously increased research.  As part of the expanded research the select list of compounds were subjected to in vivo anti-cancer tests designed to evaluate their efficacy and toxicity against colon and  glioblastoma xenografts (tumors).

The researchers reviewed the data collected from these important efficacy and toxicity tests, and surmised that PhytoMedical’s anti-cancer compound(s) may “…have its selectivity in killing SF295 human glioblastoma cells.”  Comparatively, broad anti-cancer treatments may be less effective and carry greater risks and side-effects than compounds with the key ability to selectively target and kill specific cancer cells -- an important consideration for the treatment of cancers in vital organs such as the brain, where glioblastoma is exhibited.

Glioblastoma is the most common and aggressive form of brain cancer, and is often highly-resistant to chemotherapy and other conventional treatments, meaning there is no current cure.  Additionally, surgical removal such as complete resection of the tumor in combination with the most current and aggressive treatments continues to result in low survival rates. The median survival time from the time of glioblastoma diagnosis for patients without treatment is 3 months.  Currently, as few as 1 in 20 patients will survive beyond 36 months, and only 1 in 5,000 will survive for decades.

Given the associated costs and limited successful treatment options for treating glioblastoma, we are excited to be pursuing a selective treatment option for this deadly disease through the expansion of our research efforts, commented PhytoMedical, President, CEO, Greg Wujek. In order to fund our future research efforts, Mr. Wujek noted that, the Company is continuing to explore available financing options and in connection therewith we are reviewing potential corporate restructurings, including, but not limited to a possible consolidation or “reverse split” of our issued and outstanding shares of common stock, which may assist in the facilitation of the consummation of a financing on terms and conditions acceptable to the Company; however, Mr. Wujek further noted that the Company does not have any agreement with respect to any potential financing and there is no assurance, especially in the current economic climate, that any funds will be available to the Company.
 
PhytoMedical’s Cancer Research: Killing Cancer’s DNA

Led by Dartmouth College researcher, Dr. Gordon Gribble, PhytoMedical is developing a novel class of patented anti-cancer agents that have a ‘cytotoxic’ or poisonous affinity for cancer cells and are designed to bind more tightly to cancer cell DNA than many conventional anticancer drugs by a process called bis-intercalation or “double binding,” much like a molecular staple. Because the DNA is the blueprint of life for the cancer cell, such binding stops the replication of the DNA, which prevents the growth of the cancer cell and it dies.

 
 

 

DNA is present in the nucleus of every cell of all living organisms, which are constantly dividing through a process in which the DNA in the nucleus of the original cell replicates itself to be present in the nuclei of the two new (“daughter”) cells. If this replication cannot occur, the cell will die and the organism will eventually stop growing and die. Cancer is characterized by the development of abnormal cells that divide uncontrollably and have the ability to infiltrate and destroy normal body tissue.
 
At present, anticancer molecules designed to block the replication of DNA do so through “intercalation,” a mechanism in which the drug inserts itself between one set of adjacent base pairs of the DNA. PhytoMedical believes a more effective anticancer strategy is to design molecules (“bis-intercalators”) that can intercalate simultaneously at two DNA sites, thus further increasing the binding between the drug and the DNA of specific cancer cells in order to stop their replication and ultimately resulting in the death of the cancer cell.

About PhytoMedical Technologies, Inc.
 
PhytoMedical Technologies, Inc. (OTCBB: PYTO; Frankfurt Stock Exchange: ET6), together with its wholly owned subsidiaries, is a pharmaceutical company focused on research, development and commercialization of pharmaceutical products.

For additional information, please visit www.PhytoMedical.com

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Legal Notice Regarding Forward-Looking Statements
 
No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, termination of contracts or agreements, technological obsolescence of the Company's products, technical problems with the Company's research and products, price increases for supplies and components, litigation and administrative proceedings involving the Company, the possible acquisition of new businesses or technologies that result in operating losses or that do not perform as anticipated, unanticipated losses, the possible fluctuation and volatility of the Company's operating results, financial condition and stock price, losses incurred in litigating and settling cases, dilution in the Company's ownership of its business, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists, changes in interest rates, inflationary factors, and other specific risks. We currently have no commercial products intended to diagnose, treat, prevent or cure any disease. The statements contained in this press release regarding our on going research and development and the results attained by us to-date have not been evaluated by the Food and Drug Administration. There can be no assurance that further research and development, and /or whether clinical trial results, if any, will validate and support the results of our preliminary research and studies. Further, there can be no assurance that the necessary regulatory approvals will be obtained or that PhytoMedical will be able to develop commercially viable products on the basis of its technologies. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent Form 10-QSB and Form 10-KSB filings with the Securities and Exchange Commission. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S.   Securities & Exchange Commission at http://www.sec.gov.   The Company undertakes no obligation to publicly release the results of any revisions to these forward looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.