Stellar Pharmaceuticals Inc.
TSX VENTURE : SLX
OTC Bulletin Board : SLXCF

Stellar Pharmaceuticals Inc.

April 10, 2006 07:52 ET

Stellar Pharmaceuticals Announces Presentation of NMP22'R' BladderChek'R' Test at The 21st Annual Congress of The European Association of Urology

LONDON, ONTARIO--(CCNMatthews - April 10, 2006) - Stellar Pharmaceuticals Inc. (TSX VENTURE:SLX)(OTCBB:SLXCF) ("Stellar" or "the Company"), a Canadian pharmaceutical developer and marketer of high quality, cost-effective products for select health care markets, today announced that Dr. H. Barton Grossman presented clinical results for the Matritech NMP22®BladderChek® Test at the 21st Annual Congress of the European Association of Urology ("EAU") in Paris, the largest Urology conference in Europe. Stellar commenced sales of the NMP22®BladderChek® Test in Canada in October 2004 under an exclusive licensing agreement with Matritech, which runs until December 31, 2008.

At the conference, the NMP22®BladderChek® Test was reported to detect all of the cancers that occurred in the upper urinary tract of patients with risk factors or symptoms of bladder cancer. Cystoscopy (a visual examination of the interior of the bladder using a scope inserted through the urethra) did not identify these tumors because they were outside the viewing area of the instrument. The tumors were also not detected by cytology, a commonly used laboratory test.

Dr. Grossman, Professor and Deputy Chairman, Department of Urology, University of Texas, MD Anderson Cancer Center, presented this new information at a podium session at the EAU Congress. The EAU is the largest scientific urological association in Europe, with over 16,000 members. Its mission is to promote urology in Europe and worldwide. Dr. Grossman is the lead author of two articles which appeared in the Journal of the American Medical Association (JAMA) in February, 2005 and January, 2006 evaluating the NMP22 BladderChek point-of-care test in both the diagnosis and monitoring of bladder cancer. His presentation at the EAU is an updated analysis of the diagnostic study.

Peter Riehl, President and CEO of Stellar, commented, "The five-year survival rate for bladder cancer is more than 90% if the malignancy is detected early. With an estimated 270,000 Canadians tested each year for bladder cancer, we believe that the non-invasive NMP22®BladderChek® Test offers significant benefits to these patients in a cost effective manner."

About NMP22® BladderChek®

The NMP22® BladderChek® Test, a painless and noninvasive assay, is the only in-office test approved by the FDA for the diagnosis of bladder cancer. The BladderChek® Test, which is reimbursed by Medicare and other medical insurers, is more cost effective than cell-based laboratory cytology tests. It is approved for use in a physician's office with results available in 30 minutes - during the patient visit, allowing a rapid, accurate and cost-effective way to aid in the detection of bladder cancer.

About Stellar Pharmaceuticals Inc.

Stellar has developed and is marketing direct in Canada, and in countries around the world through out-license agreements, three products based on its core polysaccharide technology: NeoVisc®, for the treatment of osteoarthritis; and Uracyst® and the Uracyst® Test Kit, its patented technology for the diagnosis and treatment of interstitial cystitis (IC), an inflammatory disease of the urinary bladder wall. Stellar also has an in-licensing agreement for NMP22® BladderChek® Test.

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand its operations, to attract and retain qualified professionals, technological obsolescence; general economic conditions; and other risks detailed from time to time in the Company's filings.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Stellar Pharmaceuticals Inc.
    Peter Riehl
    President & CEO
    (800) 639-0643 or (519) 434-1540
    or
    Stellar Pharmaceuticals Inc.
    Arnold Tenney
    Cell (416) 587-3200
    or
    Investor Relations Counsel:
    The Equity Group Inc.
    Devin Sullivan
    (212) 836-9608
    dsullivan@equityny.com
    or
    The Equity Group Inc.
    Adam Prior
    (212) 836-9606
    aprior@equityny.com