Proteus Will Focus on Developing in Vitro Diagnostics Including
Pharmacogenomic and Pharmacoproteomic Tools for Cancer Patient Management
GAITHERSBURG, Md., May 13 /PRNewswire/ -- Panacea Pharmaceuticals, Inc.
announced today the formation of a wholly-owned subsidiary, Proteus
Diagnostics, Inc., which will focus on developing and commercializing
proprietary in vitro diagnostics including pharmacogenomic and
pharmacoproteomic tools for cancer detection, diagnosis, prognosis, treatment
selection, and follow-up.
Products developed by Proteus will be based on the enzyme human aspartyl
(asparaginyl) beta-hydroxylase or HAAH. Panacea obtained exclusive, worldwide
rights to all therapeutic and diagnostic uses of HAAH through License and
Collaborative Research Agreements with Rhode Island Hospital/Brown University
in September 1999.
Background on HAAH Oncology Program
HAAH over-expression has been detected in more than 99% of nearly
1000 human tumor specimens from all 18 of the cancers tested to date and has
not been detected in normal or unaffected, adjacent tissue. Among the cancers
tested are lung, liver, colon and rectum, pancreas, prostate, ovary, bile
duct, brain, and breast, which collectively account for more than 75% of
cancer deaths worldwide. For most of these malignancies, accurate and early
diagnosis followed by therapy offer the only chance for effective treatment.
Recent studies have indicated that over-expression of HAAH induces
cellular transformation, increases cell motility and invasiveness, and causes
tumor formation in experimental animals. Even partial inhibition of HAAH
expression by antisense or antibodies appears to have a beneficial effect on
tumor cells both in vitro and in vivo, causing them to revert to a more normal
phenotype as measured by the inhibition of growth, motility, and invasiveness.
HAAH is over-expressed on the surface of cancer cells, potentially
facilitating detection, drug delivery, and enzyme inhibition.
In a survey of gene expression in more than 4000 human tissues, ASPH (the
gene that codes for HAAH) was found to be significantly up-regulated in
29 different types of cancer from 11 organs and tissues. Among non-cancer
pathologic conditions, only one exhibited up-regulation.
Panacea signed a Collaboration and License Agreement with MedImmune, Inc.
in early 2002 to discover, develop, and commercialize therapeutic agents for
the prevention or treatment of human disease based on Panacea's HAAH
technology or its pathways. Panacea has retained all rights to the development
of diagnostic products based on HAAH.
Panacea has already developed several in vitro methods for detection and
quantitation of HAAH in tissues and bodily fluids. The diagnostic methods that
have been developed include primary tests such as immunohistochemistry,
immunocytochemistry and enzyme linked immunosorbent assay (ELISA); secondary
or confirmatory tests including Western blot and sandwich ELISA; and
quantitative gene expression analysis to measure up-regulation of the HAAH
gene. Panacea has also initiated efforts to develop its antibodies against
HAAH as imaging agents for use in nuclear medicine.
"Diagnostic products and services are playing an increasingly critical and
prominent role in oncology from primary screening to long-term follow-up after
treatment," stated Kasra Ghanbari, President of Panacea. "The large number of
cancers that over-express HAAH, the large proportion of cancer cases in which
HAAH is detected, and the robustness of the diagnostic methods we are
developing create a virtually unique opportunity to build an integrated cancer
diagnostic platform that addresses many components of the life-cycle of
disease management in oncology. Proteus intends to maintain a tight focus on
taking a single family of products based on a common underlying technology
from proof of principal through regulatory approval and commercialization."
Cancer Diagnostic Market
The cancer diagnostic market includes both services and products. The
market for cancer diagnostic services comprises tests performed on patient
specimens (in vitro tests) including pathologic examinations, clinical
diagnostics conducted in independent or hospital laboratories, and high
complexity tests performed in reference laboratories as well as radiology (or
in vivo) examinations. The global market for in vitro cancer diagnostic
services in 2000 was estimated to be in excess of $1 billion. The product
component of the cancer diagnostics market, such as reagents and test kits
sold to laboratories and physicians, represents a market approaching $500
million in the U.S. alone. The market in 2000 for in vivo cancer imaging
agents used in radiology and nuclear medicine was estimated at greater than
$250 million. Both the in vitro and in vivo cancer diagnostic markets are
growing at approximately 25% per year.
About Proteus Diagnostics, Inc.
Proteus Diagnostics, Inc. will be developing proprietary in vitro
diagnostics including pharmacogenomic and pharmacoproteomic tools for cancer
detection, diagnosis, prognosis, treatment selection, and follow-up. The
Company will target the enzyme human aspartyl (asparaginyl) beta-hydroxylase
or HAAH, which has been detected in 18 cancers tested to date including lung,
liver, colon and rectum, pancreas, prostate, ovary, bile duct, brain, and
breast, which collectively account for more than 75% of cancer deaths
worldwide. For most of these malignancies, accurate and early diagnosis
followed by therapy offer the only chance for effective treatment. Proteus
Diagnostics, Inc. is a wholly-owned subsidiary of Panacea Pharmaceuticals,
Inc.
More information will soon be available at http://www.ProteusDx.com.
About Panacea Pharmaceuticals, Inc.
Panacea Pharmaceuticals, Inc. is an emerging biopharmaceutical company
focused on utilizing functional genomics and proteomics to develop
therapeutics and diagnostics for diseases with substantial unmet clinical
need. The Company's product development focus is on novel proteins and
biochemical pathways related to cellular regulation and cell cycle
abnormalities in oncology as well as neurodegenerative diseases, particularly
Alzheimer's disease and Parkinson's disease.
More information is available at http://www.PanaceaPharma.com.
Except for historical information presented in this press release, matters
discussed herein may constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are based on the opinions and estimates of
management only as of the date of this release and are subject to certain
risks and uncertainties that could cause actual results to differ materially
from any future results, performance, or achievements expressed or implied by
such statements. Factors that might cause such a difference include, but are
not limited to, uncertainties related to our access to capital, the progress,
costs, and results of any clinical trials undertaken by us, progress of our
research and development projects, and uncertainties related to whether our
product candidates would ultimately achieve commercial success. We do not
undertake any obligation to update publicly any forward-looking statement,
whether as a result of new information, future events, or otherwise unless
required by law.
Contact: Panacea Pharmaceuticals, Inc.
Kasra Ghanbari, President,
Phone 240-243-8000, x 108, FAX 240-465-0450
Kasra@PanaceaPharma.com
SOURCE Panacea Pharmaceuticals, Inc.
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Related links:
http://www.panaceapharma.com
http://www.ProteusDx.com
CONTACT:
Kasra Ghanbari, President of Panacea
Pharmaceuticals, Inc., +1-240-243-8000, ext., 108, fax,
+1-240-465-0450, or Kasra@PanaceaPharma.com
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