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MIAMI, Dec 12, 2002 (BUSINESS WIRE) -- IVAX Corporation (IVX), (IVX.L) today announced that it has completed a phase I trial of TP-38 as a treatment of malignant brain tumors. The goal of the study was to evaluate the safety of TP-38 at dose levels up to and above those predicted to have an antitumor effect in pre-clinical models. No dose limiting toxicity was identified. At each dose level tested, clinical responses, either in the form of a partial response or prolonged disease stabilization were noted. One patient with a very heavily pre-treated and progressive glioblastoma involving both hemispheres of the brain had a dramatic near-complete response that continues 19 months after treatment at the lowest dose level studied.

Phillip Frost, M.D., Chairman and CEO of IVAX commented, "the responses seen in this phase I study in patients with refractory glioblastoma are very encouraging. Preparations for large multinational phase II studies in patients with less heavily pre-treated glioblastoma are in progress".

IVAX Corporation, headquartered in Miami, Florida, discovers, develops, manufactures, and markets branded and brand equivalent (generic) pharmaceuticals and veterinary products in the U.S. and internationally.
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