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Direct Therapeutics, Inc. is a development-stage pharmaceutical company using its patented Solvent-Facilitated Perfusion technology to create new drugs for the localized and regional treatment of solid-tumor cancers. Our products are designed for direct injection to target tissue with minimal invasion of healthy tissue. They contain active ingredients in organic solvent vehicles that facilitate the penetration of the drug throughout tumor tissue and into tumor cells. In contrast to "sustained release" or "controlled release" products, our products rapidly, selectively, and thoroughly saturate tumors with doses of potent chemotherapeutic agents unachievable by other means. We have demonstrated that these products, when directly applied by needle or catheter to solid tumors, perfuse preferentially throughout the tumor, leading to rapid, selective death of cancerous tissue.

We have completed two Phase I/II studies of our lead product, DTI-015 in the United States for the treatment of brain cancer, and will start our first European trial of DTI-015 in Q1 2003. In November 2002 , we received notice from the US FDA that the company had satisfied the necessary requirements to initiate a Phase III product-registration trial of DTI-015 in patients with glioblastoma multiforme, the most common and deadly form of brain cancer. In addition, we are pursuing development of new Solvent-Facilitated Perfusion products, which have shown positive results in pre-clinical studies.