Abraxis spins off personalized medicine company

Abraxis BioScience is spinning off Abraxis Health, creating a standalone company that will operate in the personalized medicine arena.

"The opportunity that lies in front of Abraxis BioScience is enormous and is a result of the validated science underlying the company's proprietary nab technology in the clinical setting," boasted Abraxis BioScience CEO Patrick Soon-Shiong, M.D. "In 2009, we plan to initiate nine pivotal registrational trials in multiple tumor types, including breast cancer, lung, melanoma and pancreatic cancers. In addition, Abraxis has initiated 65 investigator-sponsored Phase II studies and 16 Phase I studies."

Abraxis BioScience says it will be solely dedicated to building up its Abraxane franchise, advancing an extensive Phase III clinical program and leveraging its proprietary technology platform. Abraxane was approved for breast cancer. Abraxis itself was spun off from APP Pharmaceuticals in late 2007.

- check out the Abraxis release

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