LAM Pharmaceutical Corp. Announces Arrangements Underway to Begin Marketing Its Successful Wound Healing Matrix in Fourth Quarter 2001

Apr 19, 2001, 01:00 ET from LAM Pharmaceutical Corp.

    MIAMI, and LEWISTON, N.Y., April 19 /PRNewswire/ --
 LAM Pharmaceutical Corp. (OTC Bulletin Board:   LAMP), http://www.lampharm.com,
 is pleased to announce that its ulcer matrix study in California has
 demonstrated the required efficacy to establish its viability to compete
 successfully with other leading products in the current US $2.5 billion ulcer
 healing market. LAM Pharmaceutical's wound ulcer matrix has demonstrated rapid
 improvement and significant healing in excess of 80% in analyzed pilot trials.
 All of these patients have already failed previous therapy utilizing
 conventional methods.
     The following steps have been taken to ensure rapid entry into this
 significant and lucrative market.
     Firstly, the Company has stopped taking new ulcer patients into its study
 and will use the services of independent statisticians to collate and
 summarize the data for distribution to LAM investors, and other interested
 parties, during the latter part of May.
     Secondly, the Company is pleased to announce that its Wound Healing Matrix
 meets all FDA wound dressing criteria and is therefore ready for market. LAM
 Pharmaceutical Corp. has begun negotiating the out-sourcing of the
 manufacturing and distribution of the Company's product with well-known and
 respected companies in the United States.
     Alan Drizen, President and CEO of LAM Pharmaceutical Corp., said, "We
 conservatively project capturing a 3% share of this almost five million
 patient market during the first 12 months of sales. This modest forecast will
 produce US $75 million in sales during the first 12 months for our products
 from which US $30 million is expected to fall directly to the bottom line.
 Allowing for reasonable dilution of the Company's outstanding shares, this
 should produce earnings in excess of US $1 per share. At the most conservative
 PE multiples used in the pharmaceutical industry today, a most significant
 impact on the Company's valuation is expected from the success of our wound
 healing program."
     LAM Pharmaceutical Corp., with laboratories in Miami, Florida and
 Lewiston, New York, and offices in Toronto, Canada, is the owner of a
 proprietary and patented drug delivery (nine issued and allowed patents from
 the United States Patent Office) and wound healing technology, which involves
 the use of an original ionic polymer matrix (IPM) for the purpose of
 delivering, enhancing and sustaining the action of important therapeutic
 agents. The Company has developed a number of drugs for the treatment of
 serious disease states including arthritis, with a $4 billion market value,
 male and female sexual dysfunction, with a total market value of $5 billion,
 and wound healing, with a $10 billion market size.*
     *Source:  Biocentury Research.
 
     For more information please visit our website at http://www.lampharm.com
 or send us an e-mail at info@lampharm.com to receive the latest information
 and press releases.
 
     Statements in this press release regarding our business which are not
 historical facts are "forward-looking statements" that involve risks and
 uncertainties which could cause the Company's actual results and financial
 condition to differ materially from those anticipated by the forward-looking
 statements. These risks and uncertainties include, but are not limited to,
 uncertainties relating to the need for additional funds and corporate
 partners, product liability, dependence on third parties for manufacturing and
 marketing, the early stage of products being marketed or under development,
 patent risk and competition.
 
 

SOURCE LAM Pharmaceutical Corp.
    MIAMI, and LEWISTON, N.Y., April 19 /PRNewswire/ --
 LAM Pharmaceutical Corp. (OTC Bulletin Board:   LAMP), http://www.lampharm.com,
 is pleased to announce that its ulcer matrix study in California has
 demonstrated the required efficacy to establish its viability to compete
 successfully with other leading products in the current US $2.5 billion ulcer
 healing market. LAM Pharmaceutical's wound ulcer matrix has demonstrated rapid
 improvement and significant healing in excess of 80% in analyzed pilot trials.
 All of these patients have already failed previous therapy utilizing
 conventional methods.
     The following steps have been taken to ensure rapid entry into this
 significant and lucrative market.
     Firstly, the Company has stopped taking new ulcer patients into its study
 and will use the services of independent statisticians to collate and
 summarize the data for distribution to LAM investors, and other interested
 parties, during the latter part of May.
     Secondly, the Company is pleased to announce that its Wound Healing Matrix
 meets all FDA wound dressing criteria and is therefore ready for market. LAM
 Pharmaceutical Corp. has begun negotiating the out-sourcing of the
 manufacturing and distribution of the Company's product with well-known and
 respected companies in the United States.
     Alan Drizen, President and CEO of LAM Pharmaceutical Corp., said, "We
 conservatively project capturing a 3% share of this almost five million
 patient market during the first 12 months of sales. This modest forecast will
 produce US $75 million in sales during the first 12 months for our products
 from which US $30 million is expected to fall directly to the bottom line.
 Allowing for reasonable dilution of the Company's outstanding shares, this
 should produce earnings in excess of US $1 per share. At the most conservative
 PE multiples used in the pharmaceutical industry today, a most significant
 impact on the Company's valuation is expected from the success of our wound
 healing program."
     LAM Pharmaceutical Corp., with laboratories in Miami, Florida and
 Lewiston, New York, and offices in Toronto, Canada, is the owner of a
 proprietary and patented drug delivery (nine issued and allowed patents from
 the United States Patent Office) and wound healing technology, which involves
 the use of an original ionic polymer matrix (IPM) for the purpose of
 delivering, enhancing and sustaining the action of important therapeutic
 agents. The Company has developed a number of drugs for the treatment of
 serious disease states including arthritis, with a $4 billion market value,
 male and female sexual dysfunction, with a total market value of $5 billion,
 and wound healing, with a $10 billion market size.*
     *Source:  Biocentury Research.
 
     For more information please visit our website at http://www.lampharm.com
 or send us an e-mail at info@lampharm.com to receive the latest information
 and press releases.
 
     Statements in this press release regarding our business which are not
 historical facts are "forward-looking statements" that involve risks and
 uncertainties which could cause the Company's actual results and financial
 condition to differ materially from those anticipated by the forward-looking
 statements. These risks and uncertainties include, but are not limited to,
 uncertainties relating to the need for additional funds and corporate
 partners, product liability, dependence on third parties for manufacturing and
 marketing, the early stage of products being marketed or under development,
 patent risk and competition.
 
 SOURCE  LAM Pharmaceutical Corp.