Important note: Information in this article was accurate in 1994. The state of the art may have changed since the publication date.
The Associated Press - Tue, 13 Dec 94
The trial concluded that the milk-based antibody product from ImmuCell Corp. lowered the number of parasites but did not significantly reduce diarrhea.
"Unfortunately, there was an assumption that if you knock out the parasite then the diarrhea would go away. But that didn't happen," said Michael Brigham, ImmuCell's chief financial officer.
Success in the clinical trials would have resulted in a milestone $1.2 million payment for marketing rights from ImmuCell's partner, Univax Biologics Inc.
ImmuCell had noted as early as the summer of 1993 that it was encountering problems during clinical trials.
The problems are disappointing for ImmuCell, but the product isn't critical to the company's survival, said Stephen Hirshon, who follows ImmuCell for Maine Securities Inc.
Cash flow isn't a problem for ImmuCell, which has about $1.4 million on hand, Brigham said. The company has a revenue stream of more than $1 million a year from sales of a veterinary product.
Copyright (c) 1994 - The Associated Press. Reproduced with permission. Reproduction of this article (other than one copy for personal reference) must be cleared through the Permissions Desk, The Associated Press, 50 Rockefeller Plaza, New York, NY 10020.
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Copyright © 1994 - Associated Press. Reproduction of this article (other than one copy for personal reference) must be cleared through the AP Permissions Desk.
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