GAITHERSBURG, Md., Sept. 15 /PRNewswire/ -- Panacea Pharmaceuticals, Inc.
announced the signing of a License Agreement with Massachusetts General
Hospital/Harvard University granting the Company exclusive, worldwide rights
to develop and commercialize diagnostic and therapeutic products based on a
patented cancer target.
The target is a protein expressed on the surface of cancer cells including
those of the colon, liver and pancreas. A highly sensitive and specific
monoclonal antibody, SF-25, has been developed against this protein.
Background on SF-25 Oncology Program
SF-25 was first identified as part of the same research program that
resulted in the discovery of human aspartyl (asparaginyl) Beta-hydroxylase or
HAAH. Panacea obtained an exclusive, worldwide license for diagnostic and
therapeutic uses of HAAH in 1999. 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 retained
all rights to the development of diagnostic products based on HAAH, which it
is developing internally and through its subsidiary, Proteus Diagnostics, Inc.
Substantial data have been generated with respect to SF-25's target
binding characteristics and activity in vitro. Additionally, SF-25 has been
used in vivo in mouse human colon cancer xenograft models and shows great
promise as a therapeutic agent. It also has been labeled with radioactive
iodine and used very effectively as an imaging agent in the same murine model.
Although the gene which encodes the protein to which SF-25 binds has not
yet been cloned, it is known that SF-25 binds to an approximate 125kD cell
surface heterodimeric glycoprotein that is highly expressed in malignant
neoplastic cells of gastrointestinal, bronchial or mammary origin.
A recent publication (Palumbo, KS et al, Pancreas, Vol. 25, pp. 39-44)
reported on utilization of immunohistochemical techniques to determine binding
to pancreatic adenocarcinoma. SF-25 immunoreactivity was detected in 14 of 19
pancreatic cancers and not in normal or non-affected tissue. Notably, SF-25
immunoreactivity was predominantly located along the cell membranes.
Another publication (Takahashi, H. et al, Gastroenterology, Vol. 108, pp.
172-182) examined whether SF-25 could inhibit the outgrowth of hepatic
metastases of human colon adenocarcinoma in an athymic nude mouse model. A
single intravenous injection of SF-25 significantly inhibited the outgrowth of
five and seven day hepatic micrometastases and improved the survival of the
animals. No detectable tumor was found in the liver when mice were treated by
multiple injections of the antibody immediately after tumor cell grafting into
the portal vein.
"We plan to develop and commercialize three products or product families
based on SF-25: therapeutics, in vivo imaging agents and in vitro diagnostics.
All three initially will target colon and pancreatic adenocarcinoma," stated
Kasra Ghanbari, President of the Company. "Assuming that these development
efforts are successful, we will proceed to evaluate the applicability of the
antibodies to therapeutic and diagnostic products for other malignancies,
including carcinomas of the lung, liver, esophagus, small intestine and
stomach as well as other morphologic types of colon cancer."
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 both acute and chronic neurodegenerative
conditions such as hypoxia-induced cognitive impairment, Parkinson's disease,
and Alzheimer's disease. The Company's wholly-owned subsidiary, Proteus
Diagnostics, Inc., will be developing in vitro diagnostics including
pharmacogenomic and pharmacoproteomic tools for cancer detection, diagnosis,
prognosis, treatment selection, and follow-up.
More information is available at http://www.PanaceaPharma.com and
http://www.ProteusDx.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: Kasra Ghanbari, President of Panacea Pharmaceuticals, Inc.,
+1-240-243-8000, ext. 108, Fax: +1-240-465-0450, or 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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