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Pacific Therapeutics CEO Comments on Big Pharmas Recent Interest In Acquiring Therapies to treat Fibrosis

Thursday, 06 November 2014 08:29 AM

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VANCOUVER, BC, Canada / ACCESSWIRE / November 6, 2014 / Pacific Therapeutics Ltd. (CSE: PT) (OTC Markets: PCFTF) (Frankfurt: 1P3) (the "Company") is a clinical stage specialty pharmaceutical company focused on the repurposing and reformulation of existing FDA approved drugs for large markets. The Company's lead programs focus on diseases of excessive scarring (fibrosis) and erectile dysfunction which are $4 billion plus market opportunities.

Large pharmaceutical companies have become very interested in acquiring therapies for fibrosis and specifically idiopathic pulmonary fibrosis (IPF). In September, 2014 Roche Holdings announced the acquisition of InterMune for $8.3 billion. InterMunes main asset was Pirfenidone a treatment for IPF, which has subsequently been approved for sale in the United States by the FDA.

This week Bristol-Myers Squibb announced that they had signed an option on an early-stage program for IPF, forging a deal to potentially buy out Denmark's Galecto Biotech for up to $444 million in upfront payments and milestones. The Galecto compound targeted to treat IPF is in phase 1 of its development. Under the agreement, Bristol-Myers Squibb can exercise the option to buy Galecto no later than 60 days after it completes the Phase 1b proof-of-concept trial for the treatment.

Pacific Therapeutics Ltd. lead drug candidate for fibrosis (progressive scarring of the organ), PTL-202 is a combination of an FDA approved drug and an extremely potent and important antioxidant. The Company has confirmed the anti-fibrotic activity of our lead compound for fibrosis, PTl-202, in several preclinical models and has completed an initial clinical trial of the combination with positive results. Pacific Therapeutics CEO and President Doug Unwin states" the interest in fibrosis by large pharmaceutical companies is a complete 360 compared to when the company was founded and these companies had no interest in fibrosis treatments or orphan indications."

There are 200,000 sufferers of Idiopathic Pulmonary Fibrosis (IPF) in the United States of which 48,000 new cases are diagnosed each year (IPF Coalition, 2014). An aging population combined with improved diagnostics will increase the diagnosed population by 40% to 146,000 by 2015 in the USA where 40,000 new cases of IPF are diagnosed annually (InterMune 2006). The primary sufferers of pulmonary fibrosis are in the older populations between 50-70 years of age. Decision Resources Group estimates the market size for IPF therapies in Europe and the United States at $4.6 billion by 2020.

"It's estimated that 45 % of all deaths are related to fibrotic changes" World Health Organization Feb, 2008.

ABOUT PACIFIC THERAPEUTICS LTD.

The Company's strategy includes reformulating approved drugs to increase efficacy and patient compliance, while reducing side effects, as well as completing the further clinical testing, manufacturing and other regulatory requirements sufficient to seek marketing authorizations. This strategy may reduce the risk, time and cost of developing therapies by avoiding the risks associated with basic research and using compounds with unknown safety and toxicity profiles.

In 2011 the total market for drugs to treat erectile dysfunction ("ED") exceeded $5 billion (New York Times, April 13, 2011, Duff Wilson). Pacific Therapeutics Ltd. has finalized a definitive agreement to license an oral dissolving technology ("sublingual formulation") of an approved drug to treat erectile dysfunction (ED).

Sales of the market leader alone exceeded $1.9 billion in 2011. The sublingual formulation improves on existing drugs for erectile dysfunction potentially acting faster and with fewer side effects. As large pharmaceutical companies lose their patents on these drugs the opportunity has developed for innovative formulations of drugs for ED. This is a very exciting development for Pacific Therapeutics Ltd. as it shortens the time to market for the Company's first product and may add significantly to future revenues.

For further information visit our website at www.pacifictherapeutics.com or email us at [email protected]

Douglas H. Unwin, CEO & President

(604) 738-1049

[email protected]

FORWARD LOOKING STATEMENTS

Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.

Readers should not place undue reliance on the Company's forward-looking statements, as the Company's actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that such forward-looking statements will materialize. The Company does not undertake to update any forward-looking information, except as, and to the extent required by, applicable securities laws. 

SOURCE: Pacific Therapeutics Ltd.  

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