VANCOUVER, British Columbia, Oct. 27, 2004 (PRIMEZONE) -- Dr. John Todd, president and CEO of ProtoKinetix, Inc. (OTCBB:PKTX), announces today that the Company's synthetic Anti-Freeze Glyco Proteins (AFGPs) are in the process of being patented world-wide in a series of intellectual property applications. These chemically modified structures are being synthesized in a stable form, ultimately yielding the same proven characteristics of natural AFGPs, which have been shown to improve the quality and shelf life of organs, cells, tissues and blood platelets. The Company believes that its new synthetic AFGPs will be a reliable source of such molecules and are expected to be available for additional applications soon.
The Company is preparing to launch the use of this "family of molecules" into the commercial arena and is in the process of discussing various applications with potential partners. There is a great need for the storing and reviving of irreplaceable living cells, and stable AFGPs could play a major role in this multi-billion dollar market.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Some information included in this press release contains statements that are forward-looking. Such forward-looking information involves significant risks and uncertainties that could affect anticipated results in the future and, accordingly, these results may differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. For a description of additional risks and uncertainties, please refer to the Company's filings with the Securities and Exchange Commission.
On behalf of the Board of Directors, Dr. John Todd, President