EDMONTON, ALBERTA--CV Technologies Inc. (TSX-VEN:CVQ) President and Chief Scientific Officer, Dr. Jacqueline Shan today announced that for the first time in Canada a Medical Officer of Health will conduct a large trial of its lead product - COLD-fX(R). The tests are being conducted jointly with the University of Alberta - renowned worldwide for its groundbreaking medical research. Five hundred people from Edmonton will be recruited for the trial.
Capital Health MOH Dr. Gerry Predy and Dr. Tapan Basu, an internationally recognized authority in nutritional biochemistry and professor in the Department of Agricultural, Food and Nutritional Science at the University of Alberta want to see if COLD-fX is a rare discovery of a product to protect Canadians from getting the common cold or flu.
Dr. Basu, says, "This trial will enable us to measure the effect COLD-fX(R) has on strengthening the immune system and preventing colds and flu, as well as whether it reduces the severity and duration of symptoms if a person does catch a cold".
Dr. Predy says, "Institutionalized older adults in 5 nursing homes who took COLD-fX for up to 12 weeks reduced their risk of getting influenza and respiratory syncytial virus by 89%. We now want to try it in a healthy adult population".
To that end, 500 healthy adults with a history of recurrent colds and flu are being recruited for the trial and will be given COLD-fX(R) for four months as scientists and doctors measure the outcome.
CV Technologies Chief Financial Officer Andrew Osis, says, "We're excited by the prospect of these trials. This is yet another example of the quality of our science and the recognition of our discovery. This is good news for shareholders".
- It took Dr. Shan and a group of 25 scientists 10 years and $15 million in research and development costs to come up with this natural health product. "The day we made the discovery was pretty exciting around here. That's the day we found something better than chicken soup," jokes Dr. Shan, "a lot, lot better."
- Dr. Shan and her team conducted extensive clinical trials involving 362 participants in both Canada and the U.S. Those six trials - some of them reported in medical journals - have proven that COLD-fX (R) is 89% effective in preventing colds and flu, and causes no undesirable side effects.
- COLD-fX (R) is an extract from North American Ginseng grown in Canada. There are 200 different varieties of Ginseng - each of them containing different chemical ingredients and the trick is to figure out which ones contain the active components you want and in what percentages.
- CV Technologies' team of scientists also came up with another major discovery, a technology they named ChemBioPrint(TM). It's a proprietary process that has identified the active components in North American Ginseng, and ensures that COLD-fX(R) is consistently made from batch to batch.
- Dr. Shan's discovery will be one of the first nutraceuticals to be registered under Canada's new stringent regulations of natural health products, which becomes law in January, 2004. The National Research Council (NRC) helped fund some of the company's work. A spokesman for the NRC said: "We are helping CV Technologies to advance their product, but also trying to reduce some of the controversy surrounding the efficacy of nutraceutical products."
- Health Canada has granted a Drug Identification Number (DIN) to COLD-fX(R) which permits certain claims to be made about it. The U.S. FDA has also granted COLD-fX(R) an Investigational New Drug number (IND).
- In 2000, COLD-fX(R) became the first and the only natural health product anywhere in the world to successfully complete a U.S. Food and Drug Administration's (FDA) Phase II double blind placebo controlled clinical trial.
- AVAC has provided financial support for the FDA trial. "It is exciting to see that this research has been picked up and moved along toward a commercial product and onto the shelf through the Agriculture and Food Council and AVAC Ltd.", says Freda Molenkamp of the Alberta Agricultural Research Institute.
- COLD-fX(R) is a currently used by 22 Professional Hockey Teams including the Edmonton Oilers, the Edmonton Eskimos and is available at participating drug stores.
About CV Technologies Inc.
CV Technologies, founded in 1992, aims to become a global leader in the development, distribution, marketing and selling of safe and effective natural health products for disease prevention and health maintenance.
CV's products are unique because they are developed and standardized according to the company's ChemBioPrint(TM) technology, a patented process that precisely identifies the chemical profile and biological activity of natural health products. This is a combination of chemical and pharmacological fingerprinting that ensures each batch of product delivers verifiable and provable health benefits, and is both safe and consistent with previous batches.
CV is a public company trading on the TSX Venture Exchange under the symbol CVQ.
Dr. Shan is recognized by universities in three countries. She began studying for her first of two doctorates at the age of 15. Dr. Shan is a member of the distinguished Chinese Academy of Medical Sciences, the holder of 10 patents, the author or contributor to 50 peer reviewed articles, an international guest speaker and the co-discoverer of COLD-fX(.
Dr. Basu studied in the department of Nutritional Biochemistry at the University of London and received his doctorate from the University of Surrey in 1971. He has written extensively on nutrition and pharmacology including 6 books and 158 papers and abstracts. He is or has been a member of advisory boards for professional publications like the 'British Journal of Nutrition' and has played a key role in international conferences on clinical nutrition in six different countries. He holds 9 awards or honors for his work and has received research grants from five countries. He holds memberships in 12 professional societies including the British Society of Surgical Oncology and is a fellow of the American College of Nutrition.
Dr. Predy received his doctorate in medicine from the University of Alberta in 1976 and holds a Fellowship in the Royal College of Physicians and Surgeons (Canada) in Community Medicine. Since 1996, he's been the MOH for the Capital Health Region in Alberta - the largest integrated academic health region in Canada. He's Director of the Northern Alberta Trials and Evaluation Centre and has conducted research in a number of public health areas. He's also the former chair of the Alberta Council of Officers of Health.
This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. For this purpose, any statements that are contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "intends", "expects" and similar expressions are intended to identify forward-looking statements. Such risks and uncertainties include, but are not limited to, the need for capital, changing market conditions, completion of clinical trials, patient enrolment rates, uncertainty of pre-clinical, retrospective and early clinical trial results, the establishment of manufacturing processes and new corporate alliances, the timely development, regulatory approval and market acceptance of the Company's products, and other risks detailed from time to time in the Company's filings with Canadian securities authorities.
"The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release."