GAITHERSBURG, Md., Sept. 12 /PRNewswire/ -- Panacea Pharmaceuticals,
Inc. will present data on their novel and proprietary cancer biomarker
during the Molecular Diagnostics in Cancer Therapeutic Development meeting,
sponsored by the American Association for Cancer Research, starting today
in Chicago. The Company's scientists will give a presentation on the
utility of gene expression of Human aspartyl (asparaginyl) Beta-hydroxylase
(HAAH) as a biomarker to diagnose and monitor disease status in patients
with Acute Myelogenous Leukemia (AML), along with a poster describing data
supporting serum HAAH as a biomarker for prostate cancer. In addition,
Company scientists will present a poster on the manufacture of anti-HAAH
antibodies as potential human therapeutics.
The 2006 AACR-Molecular Diagnostics in Cancer Therapeutic Development
meeting will be held September 12-15th at the Hyatt Regency Chicago. This
multidisciplinary meeting will be attended by more than 700 individuals
including basic scientists, clinical oncologists, and physician-scientists
from academia, government and industry.
Panacea conducted a series of experiments using blood samples from
patients with AML. At the time of diagnosis leukocytes from patients
displayed increased HAAH gene expression when compared to healthy normal
subjects. Increased HAAH gene expression was detected in multiple AML
subtypes, as well. HAAH gene expression decreased to near normal levels
following successful treatment. These data suggest that HAAH gene
expression measured in peripheral blood leukocytes may be helpful in
monitoring remission in patients with AML and may replace bone marrow
biopsy, a painful and expensive diagnostic procedure.
Another series of experiments examined serum levels of HAAH in patients
with and without prostate cancer. Serum HAAH levels were significantly
elevated in all patients with prostate cancer, and not in those without
prostate cancer, as confirmed by biopsy. These preliminary results indicate
that serum HAAH may have significantly higher sensitivity and specificity
for the diagnosis of prostate cancer compared to prostate-specific antigen,
the most commonly used serum screening diagnostic tool. Additional clinical
studies are underway to determine the diagnostic performance of the serum
HAAH assay in prostate cancer screening. The Company plans to offer serum
HAAH diagnostic testing in January 2007.
As part of its cancer therapeutic product development efforts, Panacea
has developed human anti-HAAH antibodies; production of these antibodies
has been initiated at a contract manufacturer. Initial therapeutic targets
for monoclonal antibody products include prostate and liver cancers. Murine
monoclonal anti-HAAH antibodies have been shown to inhibit tumor cell
proliferation, motility and invasiveness. Efficacy of these antibodies has
been demonstrated in several in vivo xenograft cancer models. The Company
has successfully re-engineered two murine anti-HAAH antibodies as
mouse-human chimeras. In addition, the Company in collaboration with the
Massachusetts Institute of Technology has developed an engineered, fully
human anti-HAAH antibody. These antibodies have demonstrated functional
equivalence to their murine counterparts in terms of antigen specificity
and binding.
"As a small company, we are quite excited to be invited by AACR to give
one oral presentation and two posters during the Molecular Diagnostics in
Cancer Therapeutic Development meeting," commented Hossein Ghanbari, Ph.D.,
Chairman, CEO and CSO of Panacea Pharmaceuticals. "We view these
opportunities as recognition of our scientific and product development
achievements, and we look forward to commercial success in the next few
years."
About Panacea's Oncology Platform
Panacea is pursuing the development of antibodies directed against
Human aspartyl (asparaginyl) Beta-hydroxylase (HAAH) as novel agents for
the treatment of cancer with liver cancer as its first intended indication.
The Company is exploring both naked anti-HAAH antibodies, as well as
antibody conjugates with various chemotherapeutic agents as lead
candidates. Panacea is also pursuing the development of diagnostic products
based on HAAH gene expression and anti-HAAH antibodies. A test to determine
responsiveness to a current therapy of choice in patients with chronic
myelogenous leukemia utilizing HAAH gene expression is available through
Panacea Laboratories. A proprietary blood-based assay has shown high
sensitivity and specificity in the detection of a range of cancers, thus
facilitating the diagnosis and therapeutic management of disease. Initial
targets for the blood-based diagnostic products include prostate and liver
cancers.
About Panacea Pharmaceuticals, Inc.
Panacea Pharmaceuticals, Inc. is a privately-held biopharmaceutical
company focused on the development and commercialization of therapeutics
and diagnostics for diseases with substantial, unmet clinical needs. The
Company's product development strategy is based on novel therapeutic agents
and approaches for cancer treatment, as well as acute and chronic
neurodegenerative conditions, such as hypoxia-induced neurological insult,
Parkinson's Disease, and Alzheimer's disease. Panacea has an extensive
patent portfolio covering its neurodegenerative and oncology technologies.
More information about the Company 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.
Stephen N. Keith, MD, MSPH
President & COO
Phone 240-243-8000; FAX 240-465-0450
skeith@panaceapharma.com
SOURCE Panacea Pharmaceuticals, Inc.
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Related links:
http://www.panaceapharma.com
CONTACT:
Stephen N. Keith, MD, MSPH, President & COO
of Panacea Pharmaceuticals, Inc., +1-240-243-8000, Fax:
+1-240-465-0450, skeith@panaceapharma.com
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