North American Scientific Provides Guidance on Timing of Completion of Investigational New Drug Submission for Hynic-Annexin V

Business Wire,  Sept 17, 2002  

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Business Editors & Health/Medical Writers

CHATSWORTH, Calif.--(BUSINESS WIRE)--Sept. 17, 2002

North American Scientific Inc. (Nasdaq:NASI) today announced that its Theseus Imaging subsidiary plans to submit an Investigational New Drug (IND) application to the U.S. Food and Drug Administration in October for its Hynic-Annexin V product candidate. The Company is incorporating useful suggestions provided by scientific consultants, clinicians and the FDA into the planned submission.

The IND submission will include protocols for the study of the biodistribution and timing of tumor uptake of Hynic-Annexin V in subjects with lung cancer, non-Hodgkin's lymphoma and breast cancer.

"We appreciate the thoughtful advice given by all who have reviewed this program and look forward to continuing our cooperative efforts in moving our product submission forward," commented L. Michael Cutrer, President and CEO of North American Scientific, Inc. "We plan to act aggressively to address all suggestions and submit an IND that will define a development plan enabling the rapid clinical evaluation of the Hynic-Annexin V technology."

About North American Scientific

North American Scientific designs, develops and produces innovative radioisotopic products, including brachytherapy seeds and radiopharmaceuticals, principally for the treatment and diagnosis of disease. Its lead radiopharmaceutical product candidate is Hynic-Annexin V which is based upon the Apomate(TM) technology platform and is a kit for the preparation of Technetium Tc-99m labeled Annexin V. It is administered intravenously and is intended for the in vivo imaging of apoptosis and necrosis, two common forms of cell death. For more information, please visit the company's Web site at www.nasi.net.

Statements included in this release that are not historical facts may be considered forward-looking statements that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company including, but not limited to, uncertainties relating to drug discovery and clinical development processes, the impact of competitive products and technological changes, changes in relationships with strategic partners and dependence upon strategic partners for the performance of critical activities under collaborative agreements, uncertainties relating to patent protection and regulatory approval, the stable supply of appropriate isotopes, the impact of competitive products and pricing, research and development estimates, market opportunities, risks associated with strategic opportunities or acquisitions the company may pursue and the risk factors included in the company's filings with the Securities and Exchange Commission. Any forward-looking statements contained in this news release speak only as of the date of this release, and the Company undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future results or otherwise.

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