Champions Biotechnology and Concordia Pharmaceuticals Establish Royalty Agreement for Novel Oncology Drug
ARLINGTON, Va.--(BUSINESS WIRE)--Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), today announced that it has entered into a royalty agreement with Concordia Pharmaceuticals for the use of Salirasib, Concordia's novel compound for the treatment of cancer, in combination with another targeted drug. Under the terms of the agreement, Champions will use its Biomerk TumorgraftTM Preclinical Platform to evaluate a combination therapy indication for Salirasib, a RAS antagonist. This agreement modifies an earlier preclinical services agreement between the companies and now provides royalty rights for Champions Biotechnology for a specific combination therapy indication for Salirasib in the event that required milestones are achieved.
"This is a further example of our ability to leverage our preclinical technology to create high potential for Champions Biotechnology while enhancing the value of drugs for pharmaceutical and biotechnology companies," said Doug Burkett, Ph.D., President of Champions Biotechnology, Inc. "Based on our predictive Biomerk Tumorgraft platform, it is our intent to build a low attrition pipeline of cancer drugs that we own, co-own or to which we have royalty rights. We are very pleased to enter into this promising arrangement with Concordia Pharmaceuticals."
For more information regarding Champions Biotechnology's growing business and recent news, please visit www.championsbiotechnology.com.
About Salirasib
Salirasib is a novel, orally available, targeted Ras inhibitor being developed for treatment of a wide range of malignancies including pancreatic, lung, colon and other cancers. Salirasib is not a farnesyltransferase inhibitor (FTI) or Epidermal Growth Factor Receptor (EGFR) antagonist; Salirasib appears to inhibit Ras signaling by dislodging all isoforms of Ras from galectin membrane binding sites. Salirasib is the first targeted molecule to demonstrate an ability to reduce total Ras protein levels (both wild-type and mutated) in primary human tumors.
Clinical studies have been and are being performed at recognized Centers of Excellence, including, M.D. Anderson (safety, pharmacokinetic and food effect studies in both solid tumor and hematologic malignancies), Johns Hopkins University (a Phase I/II study dosing Salirasib + Gemcitabine for the treatment of newly diagnosed pancreatic cancer patients) and Memorial Sloan-Kettering (a Phase II trial treating both treatment naïve and previously treated lung cancer patients with Salirasib mono-therapy).
About Champions Biotechnology, Inc.
Champions Biotechnology, Inc. is engaged in the development of advanced preclinical platforms and predictive tumor specific data to enhance and accelerate the value of oncology drugs. The Company's Preclinical Platform is a novel approach based upon the implantation of primary human tumors in immune deficient mice followed by propagation of the resulting engraftments (Biomerk TumorgraftsTM) in a manner that preserves the biological characteristics of the original human tumor. Early studies suggest that these Tumorgrafts closely reflect human cancer biology and their response to drugs is predictive of clinical outcomes in cancer patients.
Champions Biotechnology leverages its preclinical platform to evaluate drug candidates and to develop a portfolio of novel therapeutic candidates through pre-clinical trials. As drugs progress through this early stage of development, the Company plans to sell, partner or license them to pharmaceutical and/or biotechnology companies, as appropriate. The Company also offers its predictive preclinical platform and tumor specific data to physicians for personalized patient care and to Companies for evaluation of oncology drugs in models that integrate prognostic testing with biomarker discovery.
This press release contains "forward-looking statements" (within the meaning of the Private Securities Litigation Act of 1995) that inherently involve risk and uncertainties. Champions Biotechnology generally uses words such as "believe," "may," "could," "will," "intend," "expect," "anticipate," "plan," and similar expressions to identify forward-looking statements. One should not place undue reliance on these forward-looking statements. The Company's actual results could differ materially from those anticipated in the forward-looking statements for many unforeseen factors. See Champions Biotechnology's Form 10-KSB for the fiscal year ended April 30, 2008 for a discussion of such risks, uncertainties and other factors. Although the Company believes the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and Champions Biotechnology's future results, levels of activity, performance or achievements, including but not limited to the achievement of milestones as required to realize the royalties referenced above, may not meet these expectations. The Company does not intend to update any of the forward-looking statements after the date of this press release to conform these statements to actual results or to changes in Champions Biotechnology's expectations, except as required by law.
CHAMPIONS BIOTECHNOLOGY, INC. WEB SITE: www.championsbiotechnology.com