GAITHERSBURG, Md., Nov. 7 /PRNewswire/ -- Panacea Pharmaceuticals, Inc.
will present data on their novel and proprietary cancer biomarker during
the Molecular Targets and Cancer Therapeutics meeting, sponsored by the
European Organization for Research and Treatment of Cancer, the National
Cancer Institute, and the American Association for Cancer Research,
starting today in Prague, Czech Republic. Scientists from the Institute for
Hematology and Blood Transfusion in Prague, along with Company scientists,
will give a presentation describing an in vitro assay to reliably predict
response to imatinib (Gleevec(R), or Glivec, in Europe) prior to initiation
of therapy in patients with Chronic Myelogenous Leukemia (CML). This assay
measures gene expression of Human aspartyl (asparaginyl) Beta-hydroxylase
(HAAH). Measuring levels of expression of the HAAH gene following exposure
of the patient's leukocytes to imatinib using this simple and sensitive
assay is an indicator of likely response to imatinib. As well, this assay
may prove useful in screening new drug candidates against CML and other
cancers targeted by tyrosine kinase inhibitors such as imatinib. The 18th
EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics will
be held November 7-10, 2006, in Prague, Czech Republic. This
multidisciplinary meeting will be attended by more than 2,200 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 CML. Prior to treatment, all patient samples had increased
HAAH gene expression. Leukocytes from 39 patients were isolated from fresh
whole blood prior to initiation of therapy and cultured in the presence or
absence of imatinib. HAAH gene expression and BCR/ABL transcript levels
were determined by real-time PCR. The leukocytes of 27 patients displayed a
30-75 percent decrease in HAAH gene expression after culture in the
presence of imatinib; all of these patients showed complete molecular
remission following initiation of drug therapy. The leukocytes of the other
12 patients displayed 0-25 percent reduction in HAAH gene expression, and
these patients did not respond to therapy with imatinib. BCR/ABL transcript
levels prior to initiation of therapy did not correlate with response to
imatinib.
Earlier this year the Company began offering TK Sense(SM), a diagnostic
test to reliably predict response to imatinib therapy in patients with CML.
This test is performed by Panacea Laboratories
(http://www.panacea-labs.com), a division of Panacea Pharmaceuticals, in
our CLIA (Clinical Laboratory Improvement Amendments of 1988) compliant
facility. The TK Sense(SM) assay is the same as the one utilized in the
experiments to be reported during the 18th EORTC-NCI-AACR Symposium on
Molecular Targets and Cancer Therapeutics. The Company expects to launch a
serum-based diagnostic test to be used in conjunction with PSA to enhance
the specificity of diagnosing prostate cancer by the end of 2006, along
with other tests to detect and monitor liver, lung, breast and cervical
cancers during 2007 and 2008.
"We are quite excited to present these results on our diagnostic test
to predict response to therapy in patients with CML during the 18th
EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics in
Prague," commented Stephen Keith, MD, MSPH, President and Chief Operating
Officer of Panacea Pharmaceuticals. "Reliable prediction of patients with
CML who will or will not respond to imatinib may hasten initiation of
optimal therapy and potentially improve outcomes. Further, identification
of patients unlikely to respond to imatinib is important from a cost
perspective; annual costs for imatinib have been estimated between $30,000
and $50,000. And most importantly, significant cardiac toxicity has been
observed in patients receiving imatinib, including symptoms of congestive
heart failure in more than 50 percent. Patients unlikely to respond to
imatinib should not be exposed to the risk of these serious cardiac
complications."
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
http://www.panacea-labs.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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