satraplatin

Celgene drops development deal with GPC

Maureen Martino — Wed, 06 Aug 2008 21:48:32 -0400

In another blow to GPC, Celgene has decided to drop out of its co-development and licensing pact for the cancer drug satraplatin. Celgene is returning rights to the drug in Europe, Turkey, the Middle East, Australia and New Zealand. GCP has been on the ropes since satraplatin failed to help prostate cancer patients live longer in a critical late-stage trial. Since then the drug developer has cut staff and is on the hunt for an M&A partner.

GPC CEO Bernd R. Seizinger said, "We are disappointed, but we understand Celgene's decision given their recent withdrawal of the Marketing Authorization Application for satraplatin in Europe. We plan to decide in the near future the next steps regarding the development of satraplatin, and we will continue to focus our other efforts on advancing our RGB-286638 kinase inhibitor into the clinic and exploring various merger and acquisition opportunities."

- here's the GPC release

Report: Wilex, GPC nearing merger pact

Wed, 07 May 2008 06:59:58 -0400

Two German biotech companies which share a very big investor are preparing to merge, according to a prominent German newspaper. Wilex and GPC Biotech, both involved in developing new cancer therapies, are each backed by SAP founder Dietmar Hopp. Analysts say that a merger would suit both biotechs. GPC is well funded but doesn't have the late-stage therapeutics that investors love, while Wilex has a compelling late-stage project for kidney cancer. GPC's satraplatin recently failed in a clinical trial, adding to its motivation to merge.

The companies, though, aren't talking about any of it. Complicating the rumors: A third Hopp-based biotech--Heidelberg Pharma--has also been touted as a potential partner for GPC and Wilex. Hopp owns 15 percent of GPC, 28.52 percent of Wilex and 75 percent of Heidelberg. Wilex was a 2005 Fierce 15 company.

Just days ago GPC announced a new round of layoffs, with some of its top execs headed out the door.

- read the AFX report

Struggling GPC looking for merger or acquisition

Wed, 28 Nov 2007 06:59:58 -0500

Wanted: Private drug developer interested in partnering with struggling biotech specializing in cancer therapies. GPC Biotech essentially posted that message when its CEO announced that he is looking to partner up with a private biopharma player that would see extra value in the drug developer's listings in the U.S. and German markets. CEO Bernd Seizinger tells Financial Time Deutschland that he plans to stay on with the company as it tries to survive the late-stage failure of satraplatin. In recent days GPC has laid off almost half of its staff. Any alliance the company makes would focus exclusively on cancer therapies, he says. And Seizinger denies that he ignored warnings from the FDA when he pushed ahead with satraplatin. GPC has about $90 million in cash reserves.

- read the report from Thomson Financial

Related Articles:
More takeover targets for Big Pharma. Report
Troubled GPC cuts staff, looks for M&A deals. Report
GPC Biotech reports Q3 results, layoffs. Report
GPC shares crater on Phase III cancer failure. Report
FDA delay forces cutbacks at GPC Biotech. Report
GPC yanks FDA application for satraplatin. Report

Troubled GPC cuts staff, looks for M&A deals

Thu, 15 Nov 2007 06:59:58 -0500

The failure of GPC Biotech's cancer drug satraplatin in a Phase III trial is being paid for with the jobs of 44 percent of its workforce. PC announced late last week that it needed to significantly cut back to account for the setback. Now the company says it will concentrate "internal efforts on a limited number of development-stage oncology projects, significantly increasing our licensing efforts and actively exploring M&A opportunities." Sixty workers in Germany and 43 more in Princeton are getting pink slips. The remaining staff of 114 will be about evenly split between Germany and Princeton after GPC's Waltham, MA facility is closed.

"Our goal of having approximately two years of operating cash on hand at the end of 2007 has sadly necessitated very significant staff reductions on both sides of the Atlantic," says CEO Bernd R. Seizinger.

- see this release
- read the AFX report for more

Related Articles:
GPC Biotech reports Q3 results, layoffs. Report
GPC shares crater on Phase III cancer failure. Report
FDA delay forces cutbacks at GPC Biotech. Report
GPC yanks FDA application for satraplatin. Report
FDA questions satraplatin. Report
Top 5 layoffs of 2007. Report

GPC Biotech reports Q3 results, layoffs

Fri, 09 Nov 2007 06:59:58 -0500

GPC Biotech is regrouping after last week's announcement that a Phase III trial of its prostate cancer drug candidate, satraplatin, failed to help patients live longer in a critical trial. With the possibility of near-term revenue from satraplatin gone, GPC said it will reorganized in order to make its $87 million in cash last through 2009. "Numerous cost-cutting measures to be implemented shortly, including a significant workforce reduction," the company stated in a release. No word yet on just how significant the cuts will be.

GPC will continue Phase II testing of satraplatin. In addition, the company has a Phase I monocolonal antibody in development, and plans to advance a small-molecule drug candidate into Phase I testing in the near future.

- see GPC's Q3 results
- read this Motley Fool item

Related Articles:
GPC shares crater on Phase III cancer failure. Report
FDA delay forces cutbacks at GPC Biotech. Report
GPC yanks FDA application for satraplatin. Report
FDA questions satraplatin. Report
Top 5 layoffs of 2007. Report

GPC shares crater on Phase III cancer failure

Wed, 31 Oct 2007 07:59:58 -0400

Germany's GPC Biotech saw its already battered stock price crater this morning after announcing that its experimental prostate cancer drug, satraplatin, failed to help patients live longer in a critical late-stage trial. GPC announced it was cutting its workforce by 15 percent to account for the trial disaster, which sliced 65 percent off of its remaining stock value.

The vultures had already been gathering around satraplatin after GPC and its partner, Pharmion, announced that they were withdrawing their FDA application until survival data was in. The data is also expected to have an impact on their European regulatory filing. In the trial, patients taking the therapy in combination with prednisone lived an average of 61.3 weeks compared to 61.4 weeks for the control group. That kind of survival response would not pass muster with regulators. Researchers say they will evaluate how they plan to proceed with the cancer program.

"We are extremely disappointed with the findings,'' said GPC Chief Executive Officer Bernd Seizinger in an understatement of the week. One analyst noted that the company's business model is somewhat "unclear" after the results were announced.

- see this release from GPC
- here's the report from MarketWatch

Related Articles:
FDA delay forces cutbacks at GPC Biotech. Report
GPC yanks FDA application for satraplatin. Report
FDA questions satraplatin. Report
Shares surge as satraplatin succeeds in Phase III. Report
Pharmion signs $270M licensing deal for GPC's satraplatin. Report

FDA delay forces cutbacks at GPC Biotech

Thu, 23 Aug 2007 06:59:58 -0400

Struggling to overcome FDA hurdles for its cancer drug satraplatin, Germany's GPC Biotech says it will slash its staff by 15 percent and ratchet down research and development costs. An FDA advisory committee opted to delay approval until the company can deliver final data on patient survival, which GPC has estimated would take six months. To survive the delay, the biotech is handing out 46 pink slips among its 316 employees. GPC licensed satraplatin five years ago, agreeing to take on development and regulatory costs. As part of the restructuring, GPC says it will slow down--for a while anyway--its work on its 1D09C3 monoclonal antibody and cell cycle inhibitors.

As part of a planned succession, Dr. Martine George is succeeding Dr. Marcel Rozencweig as senior vice president of drug development and chief medical officer. Dr. Rozencweig will remain with the company in the new role of senior vice president, clinical science and drug evaluation.

- check out the release

Related Articles:
GPC yanks FDA application for satraplatin. Report
FDA questions satraplatin. Report
Shares surge as satraplatin succeeds in Phase III. Report
Pharmion signs $270M licensing deal for GPC's satraplatin. Report

SPOTLIGHT: GPC hit by high R&D costs

Wed, 08 Aug 2007 06:59:53 -0400

Germany's GPC Biotech announced wider losses as a result of the expense of developing its prostate cancer therapy Satraplatin. A recent delay in gaining FDA approval of the drug sent GPC shares tumbling. Release

Industry exec says FDA approval process too strict

Wed, 01 Aug 2007 06:59:55 -0400

Citing the recent decision by GPC Biotech to withdraw its application for satraplatin, Pharmacyclics CEO Richard Miller says that the FDA is making it too tough to gain approvals for new cancer therapies and other drugs that fight life-threatening illnesses. Writing in The Wall Street Journal, Miller maintains that satraplatin is just the latest in a series of cases where the FDA has been making life too difficult for developers. Only one therapy achieved accelerated approval last year and none have made it through that process so far this year. He calls on the agency to revise its approach to drugs that can save the lives of patients who have exhausted other possible treatments.

- read the commentary from the Wall Street Journal (sub. req.)

Related Article:
Pharmacyclics shares plunge after Xcytrin flunks Phase III. Report

GPC yanks FDA application for satraplatin

Mon, 30 Jul 2007 06:59:54 -0400

Stymied by FDA regulators, GPC Biotech has pulled its application for satraplatin, an experimental therapy for prostate cancer. Regulators demanded to see more data on the drug before they could make a final decision, and GPC now plans to wait until a late-stage trial is complete before resubmitting. Data from the Phase III trial is expected in six months.

- read the report from Hemscott

Related Articles:
GPC cancer drug voted down by FDA committee. Report
FDA questions satraplatin. Report
Phase III data backs Satraplatin for prostate cancer. Report
GPC posts positive satraplatin data. Report
Pharmion signs $270M licensing deal for GPC's satraplatin. Report

GPC cancer drug voted down by FDA committee

Wed, 25 Jul 2007 06:59:58 -0400

An FDA expert committee has dealt a blow to GPC Biotech, concluding unanimously that regulators should wait for survival data before approving its prostate cancer drug Orplatna (satraplatin). The news triggered a rout among investors as GPC's stock slid 42 percent, wiping out $310 million of valuation. Shares of Spectrum Pharmaceuticals as well as Pharmion, GPC's partners on the drug, both slipped.

The committee wants to see if volunteers taking the pill in a trial lived longer than the placebo arm. Interim data from last summer demonstrated no improvement in survival rates and the company says that it could be another year before the new batch of data would be available. GPC based its application on the potential benefit for patients who had not responded to other treatments. Progression-free survival for the group on the drug was 11.1 weeks compared to 9.7 weeks for patients taking a placebo.

- see the release
- here's the AP report on the committee vote

Related Articles:
FDA questions satraplatin. Report
Phase III data backs Satraplatin for prostate cancer. Report
GPC posts positive satraplatin data. Report
Pharmion signs $270M licensing deal for GPC's satraplatin. Report

SPOTLIGHT: FDA questions satraplatin

Mon, 23 Jul 2007 06:59:53 -0400

Shares of GPC Biotech and Spectrum Pharmaceuticals took a big hit on Friday after the FDA raised questions regarding their cancer drug satraplatin. Analysts were alarmed that the agency was highlighting a disagreement between two radiologists over the progression of prostate cancer in patients who have failed to respond to chemotherapy. Reviewers may ask for a delay on any decision until final survival data is in. An expert FDA panel is scheduled to review the drug this week. Report

Press Release: GPC Biotech Announces that Partner Pharmion Submits European Marketing Application for Satraplatin

Maureen Martino — Tue, 26 Jun 2007 12:31:18 -0400

GPC Biotech Announces that Partner Pharmion Submits European Marketing Application for Satraplatin

MARTINSRIED/MUNICH, Germany, June 26, 2007 -- PRINCETON, N.J. -- GPC Biotech AG today announced that its partner, Pharmion Corporation , has submitted a Marketing Authorization Application (MAA) to the European Medicines Agency (EMEA) for satraplatin in combination with prednisone for the treatment of patients with metastatic hormone refractory prostate cancer (HRPC) who have failed prior chemotherapy. This filing is based primarily on data from the SPARC Phase 3 registrational trial.

"We are delighted that Pharmion has submitted the European marketing application for satraplatin," said Bernd R. Seizinger, M.D., Ph.D., Chief Executive Officer. "With over 60,000 people expected to die from prostate cancer in the European Union this year, there is an urgent need for new therapies. We believe that, if approved, satraplatin has the potential to become an important new treatment option for advanced prostate cancer patients who today have very little hope."

GPC Biotech will receive an $8 million milestone payment from Pharmion in connection with EMEA's acceptance of this filing. Under the terms of GPC Biotech's agreement with Spectrum Pharmaceuticals, the acceptance of the MAA by the EMEA will also trigger payments by GPC Biotech to Spectrum in a total amount of $3.2 million, representing a direct milestone payment plus Spectrum's share of the $8 million milestone payment from Pharmion.

About Satraplatin

Satraplatin, an investigational drug, is a member of the platinum family of compounds. Platinum-based drugs are a critical part of modern chemotherapy treatments and are used to treat a wide variety of cancers. All platinum drugs currently on the market require intravenous administration. Satraplatin is an oral compound that clinical trial patients are able to take at home. Satraplatin is not currently approved by the FDA in the United States, by the EMEA in the European Union or any other regulatory authority and no conclusions can or should be drawn regarding its safety and efficacy.

A Phase 3 registrational trial, called SPARC, is evaluating satraplatin plus prednisone versus placebo plus prednisone in 950 patients with hormone- refractory prostate cancer whose prior chemotherapy has failed. Data from the trial on progression-free survival and on safety have been presented at recent medical conferences. Satraplatin is currently under review by the U.S. FDA for hormone-refractory prostate cancer patients whose prior chemotherapy has failed.

Satraplatin has been studied in clinical trials involving a range of tumors. Trials evaluating the effects of satraplatin in combination with radiation therapy, in combination with other cancer therapies and in a number of cancer types are underway or planned.

About GPC Biotech

GPC Biotech AG is a publicly traded biopharmaceutical company focused on discovering, developing and commercializing new anticancer drugs. GPC Biotech's lead product candidate satraplatin is currently under review by the U.S. FDA for hormone-refractory prostate cancer patients whose prior chemotherapy has failed. GPC Biotech is also developing a monoclonal antibody with a novel mechanism-of-action against a variety of lymphoid tumors, currently in Phase 1 clinical development, and has ongoing drug development and discovery programs that leverage its expertise in kinase inhibitors. GPC Biotech AG is headquartered in Martinsried/Munich (Germany), and has a wholly owned U.S. subsidiary headquartered in Princeton, New Jersey. For additional information, please visit GPC Biotech's Web site at www.gpc-biotech.com.

This press release contains forward-looking statements, which express the current beliefs and expectations of the management of GPC Biotech AG, including statements relating to results of the SPARC trial and statements relating to the potential efficacy and safety profile of satraplatin. Such statements are based on current expectations and are subject to risks and uncertainties, many of which are beyond our control, that could cause future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially depending on a number of factors, and we caution investors not to place undue reliance on the forward- looking statements contained in this press release. In particular, there can be no guarantee that additional information relating to the safety, efficacy or tolerability of satraplatin may be discovered upon further analysis of data from the SPARC trial or analysis of additional data from other ongoing clinical trials for satraplatin. Furthermore, we cannot guarantee that satraplatin will be approved for marketing in a timely manner, if at all, by regulatory authorities nor that, if marketed, satraplatin will be a successful commercial product. We direct you to GPC Biotech's Annual Report on Form 20-F for the fiscal year ended December 31, 2006 and other reports filed with the U.S. Securities and Exchange Commission for additional details on the important factors that may affect the future results, performance and achievements of GPC Biotech. Forward-looking statements speak only as of the date on which they are made and GPC Biotech undertakes no obligation to update these forward-looking statements, even if new information becomes available in the future.

CONTACT: Martin Braendle, Director, Investor Relations & CorporateCommunications, +49 (0)89 8565-2693, ; In the U.S.:Laurie Doyle, Director, Investor Relations & Corporate Communications,+1-609-524-5884, , both of GPC Biotech AG;Additional Media Contacts: (In Europe) Brian Hudspith of Maitland, +44(0)20 7379 5151, ; (In the U.S.) David Schull ofRusso Partners, LLC, +1-212-845-4271, ir@gpc-biotech.com usinvestors@gpc-biotech.com bhudspith@maitland.co.uk david.schull@russopartnersllc.com

ALSO NOTED: Natco wins FDA OK; Clinquest gets stake in Enceladus; Pharmion submits MMA; and much more...

Tue, 26 Jun 2007 00:01:30 -0400

> The FDA has approved Natco's anti-cancer drug Ondansetron Hydrochloride tablets in multiple strengths. Report

> The Dutch company Clinquest has acquired a stake in Enceladus and has led a syndicate of investors to provide additional funding. Financial details were not disclosed. Release

> GPC Biotech announced that its partner, Pharmion, has submitted an MMA to the European Medicines Agency for satraplatin in combination with prednisone for the treatment of patients with metastatic hormone refractory prostate cancer who have failed prior chemotherapy. Release

> UCB and Biogen Idec announced the initiation of a Phase II study of CDP323--an oral VLA-4 antagonist--under development for relapsing-remitting multiple sclerosis. Release

> The FDA is allowing Allergan to change the label for Juvederm to indicate that the wrinkle filler lasts longer than had previously been thought. Release

> The UK's Intercytex has unveiled new early-stage data that supports its contention that an experimental artificial skin can reduce scarring. Report

And Finally... Disgraced scientist Hwang Woo-suk is back at work on cloned embryos. Report

Press Release: GPC Biotech Announces Partnering Agreement for Satraplatin for Japan with Yakult

Maureen Martino — Mon, 25 Jun 2007 08:30:55 -0400

GPC Biotech Announces Partnering Agreement for Satraplatin for Japan with Yakult

Martinsried/Munich (Germany) and Princeton, N.J., June 25, 2007 – GPC Biotech AG today announced that the Company has entered into a license agreement with Yakult Honsha Co. Ltd. for satraplatin in Japan.

Under the terms of the agreement, Yakult gains exclusive commercialization rights to satraplatin for Japan and will take the lead in developing the drug in Japan. Yakult is to provide an upfront payment of ¥1.2 billion (~$10 million) to GPC Biotech as reimbursement for past satraplatin clinical development expenses. Yakult will also make GPC Biotech additional payments based on the achievement of certain regulatory filing and approval milestones. GPC Biotech will also receive a minimum of 21% royalties on sales of satraplatin in Japan.

Bernd R. Seizinger, M.D., Ph.D., Chief Executive Officer of GPC Biotech, said: “We are delighted to have Yakult as our partner for Japan. Yakult’s pharmaceutical business specializes in cancer and cancer-related ailments and has expanded its operations in this area. They are the inventor of irinotecan, which is a global standard drug for colorectal cancer, and have a solid track record of successfully commercializing another platinum-based drug, oxaliplatin, in Japan. They also share the development philosophy of GPC Biotech and plan to develop satraplatin for additional cancer indications for Japan. We look forward to a productive working relationship with Yakult.”

Teruo Yokokura, Ph.D., Head of Pharmaceutical Division of Yakult Honsha Co., Ltd., said: “We are excited to have the opportunity to develop and commercialize satraplatin for the Japanese market. We look forward to building on the solid foundation of the Phase 3 data from the satraplatin SPARC trial conducted by GPC Biotech in second-line hormone-refractory prostate cancer to bring this product through development, the regulatory process and onto the market in Japan. We believe that, if shown to be effective and well-tolerated, satraplatin, which is given as capsules that patients can take at home, could be an important option for cancer patients in Japan.”

About Satraplatin
Satraplatin, an investigational drug, is a member of the platinum family of compounds. Platinum-based drugs are a critical part of modern chemotherapy treatments and are used to treat a wide variety of cancers. All platinum drugs currently on the market require intravenous administration. Satraplatin is an oral compound that clinical trial patients are able to take at home. Satraplatin is not currently approved by the FDA in the United States, by the EMEA in the European Union or any other regulatory authority and no conclusions can or should be drawn regarding its safety and efficacy.

A Phase 3 registrational trial, called SPARC, is evaluating satraplatin plus prednisone versus placebo plus prednisone in 950 patients with hormone-refractory prostate cancer whose prior chemotherapy has failed. Data from the trial showing a statistically significant improvement in progression-free survival and data on prostate specific antigen (PSA) have been presented at recent medical conferences. The satraplatin NDA, filed on February 15 2007, is currently under review by the U.S. FDA for hormone-refractory prostate cancer patients whose prior chemotherapy has failed and will be reviewed by the Oncologic Drugs Advisory Committee (ODAC) on July 24, 2007. The FDA has accepted for filing the Company’s NDA and granted the NDA priority review status. An action from the FDA on the application is expected in August of this year.

GPC Biotech has a co-development and license agreement with Pharmion GmbH, a wholly owned subsidiary of Pharmion Corporation, under which Pharmion has been granted exclusive commercialization rights to satraplatin for Europe and certain other territories. Pharmion has indicated it expects to complete the Marketing Authorization Application (MAA) for satraplatin for Europe in the second quarter of 2007. GPC Biotech in-licensed satraplatin from Spectrum Pharmaceuticals, Inc. in 2002.
Satraplatin has been studied in clinical trials involving a range of tumors. Trials evaluating the effects of satraplatin in combination with radiation therapy, in combination with other cancer therapies and in a number of cancer types are underway or planned.

About GPC Biotech
GPC Biotech AG is a publicly traded biopharmaceutical company focused on discovering, developing and commercializing new anticancer drugs. GPC Biotech's lead product candidate satraplatin is currently under review by the U.S. FDA for hormone-refractory prostate cancer patients whose prior chemotherapy has failed. GPC Biotech is also developing a monoclonal antibody with a novel mechanism-of-action against a variety of lymphoid tumors, currently in Phase 1 clinical development, and has ongoing drug development and discovery programs that leverage its expertise in kinase inhibitors. GPC Biotech AG is headquartered in Martinsried/Munich (Germany), and has a wholly owned U.S. subsidiary headquartered in Princeton, New Jersey. For additional information, please visit GPC Biotech's Web site at www.gpc-biotech.com.

This press release contains forward-looking statements, which express the current beliefs and expectations of the management of GPC Biotech AG, including statements relating to results of the SPARC trial and statements relating to the potential efficacy and safety profile of satraplatin. Such statements are based on current expectations and are subject to risks and uncertainties, many of which are beyond our control, that could cause future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially depending on a number of factors, and we caution investors not to place undue reliance on the forward-looking statements contained in this press release. In particular, there can be no guarantee that additional information relating to the safety, efficacy or tolerability of satraplatin may be discovered upon further analysis of data from the SPARC trial or analysis of additional data from other ongoing clinical trials for satraplatin. Furthermore, we cannot guarantee that satraplatin will be approved for marketing in a timely manner, if at all, by regulatory authorities nor that, if marketed, satraplatin will be a successful commercial product. We direct you to GPC Biotech’s Annual Report on Form 20-F for the fiscal year ended December 31, 2006 and other reports filed with the U.S. Securities and Exchange Commission for additional details on the important factors that may affect the future results, performance and achievements of GPC Biotech. Forward-looking statements speak only as of the date on which they are made and GPC Biotech undertakes no obligation to update these forward-looking statements, even if new information becomes available in the future.

ALSO NOTED: GPC inks deal for satraplatin; Acusphere's CFO takes his leave; and much more...

Mon, 25 Jun 2007 00:01:30 -0400

> GPC Biotech has signed a licensing agreement with Yakult Honsha for satraplatin in Japan. Release

> Sangamo BioSciences has presents encouraging data from a Phase I trial of its ZFP Therapeutic program. The drug is currently in two Phase II trials for the treatment of diabetic neuropathy. Release

> AstraZeneca today announced that Symbicort pressurized Metered Dose Inhaler is now available in the United States for the long-term maintenance treatment of asthma in patients 12 years of age and older. Release

> Chutes & Ladders: Acusphere CFO John Thero announced that he is leaving the company in order to "pursue other interests." Finance VP Frederick Ahlholm will fill the position until a replacement is named. Report (WSJ sub. req.)

> The FDA has approved new labeling for Genzyme's cartilage repair drug Carticel based on the completion of a post-approval commitment study. Release

And Finally... A new report predicts that China's Pharmaceutical market will become the fifth largest by 2010 and the world's largest by 2050. However, there are a number of hurdles the country must overcome before it can take its place as a leader in the pharmaceutical industry. Release

Press Release: GPC Biotech Raises Euro 33.6 Million In Private Placement

Maureen Martino — Wed, 24 Jan 2007 10:17:38 -0500

GPC Biotech AG Raises Euro 33.6 Million In Private Placement

MARTINSRIED/MUNICH, Germany, WALTHAM, Mass. and PRINCETON, N.J., Jan. 24 -- GPC Biotech AG has raised gross proceeds of euro 33.6 million (approximately $43.7 million) in a private placement with institutional investors. GPC Biotech sold 1,564,587 million shares at a price of euro 21.50/share and will receive the proceeds upon registration of the corresponding capital increase. The share price and the number of shares were determined by an accelerated bookbuilding procedure with an underwriter.

With the issuance of these new shares, GPC Biotech's total registered share capital will increase from euro 33,103,337 to euro 34,667,927. The newly issued shares, which will be taken from authorized capital, will represent 4.51% of GPC Biotech's total shares outstanding after the transaction.

"With the announcement this past fall of positive data from the satraplatin Phase 3 trial in second-line hormone refractory prostate cancer, we were able to accelerate the building of our commercialization infrastructure in the U.S.," said Bernd R. Seizinger, M.D., Ph.D., Chief Executive Officer. "The funds we have raised will assist us both in aggressively moving forward with commercialization activities, as well as continuing to expand the development of satraplatin in other cancer settings."

The listing of the new shares on the Frankfurt Stock Exchange (Prime Standard) is expected to take place in August 2007. To ensure a proper allocation and delivery of the placed shares to investors, large shareholders of GPC Biotech have transferred to the underwriter existing shares of the Company in the form of a securities loan. The underwriter will make use of such shares only to perform the placement to institutional investors.

The shares have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended, or any state securities laws in the U.S., and unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This announcement does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of shares in any state in the U.S. in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About GPC Biotech

GPC Biotech AG is a publicly traded biopharmaceutical company focused on discovering, developing and commercializing new anticancer drugs. GPC Biotech's lead product candidate -- satraplatin -- is an oral platinum-based compound that has shown highly statistically significant results for progression-free survival in a Phase 3 registrational trial as a second-line chemotherapy treatment in hormone-refractory prostate cancer. The U.S. FDA has granted fast track designation to satraplatin for this indication, and the rolling NDA submission process for this compound is underway. Satraplatin was in-licensed from Spectrum Pharmaceuticals, Inc. GPC Biotech is also developing a monoclonal antibody with a novel mechanism-of-action against a variety of lymphoid tumors, currently in Phase 1 clinical development, and has ongoing drug development and discovery programs that leverage its expertise in kinase inhibitors. GPC Biotech AG is headquartered in Martinsried/Munich (Germany), and its wholly owned U.S. subsidiary has sites in Waltham, Massachusetts and Princeton, New Jersey. For additional information, please visit GPC Biotech's Web site at www.gpc-biotech.com.

This press release contains forward-looking statements, which express the current beliefs and expectations of the management of GPC Biotech AG, including summary statements relating to the development and commercialization of satraplatin. Such statements are based on current expectations and are subject to risks and uncertainties, many of which are beyond our control, that could cause future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially depending on a number of factors, and we caution investors not to place undue reliance on the forward-looking statements contained in this announcement. In particular, there can be no guarantee that non final results from clinical trials will be confirmed. Furthermore, even if these results are confirmed, we cannot guarantee that satraplatin will be approved for marketing in a timely manner, if at all, by regulatory authorities nor that, if marketed, satraplatin will be a successful commercial product. We direct you to GPC Biotech's Annual Report on Form 20-F for the fiscal year ended December 31, 2005 and other reports filed with the U.S. Securities and Exchange Commission for additional details on the important factors that may affect the future results, performance and achievements of GPC Biotech. Forward-looking statements speak only as of the date on which they are made and GPC Biotech does not undertake any obligation to update these forward- looking statements, even if new information becomes available in the future.

GPC Biotech AG Martin Braendle Director, Investor Relations & Corporate Communications Phone: +49 (0)89 8565-2693 ir@gpc-biotech.com

In the U.S.: Laurie Doyle Director, Investor Relations & Corporate Communications Phone: +1 781 890 9007 X267 usinvestors@gpc-biotech.com

Pharmion nets cancer therapy in Cabrellis buyout

Wed, 15 Nov 2006 19:01:37 -0500

Pharmion has acquired a mid-stage lung cancer therapy--amrubicin--in its deal to buy Cabrellis Pharmaceuticals for $59 million up front. Cabrellis shareholders will also get $12.5 million each for a European and U.S. approval and $10 million each for a European and U.S. approval of a second indication. Pharmion says it will begin a Phase III clinical trial of amrubicin in the latter part of 2007 with drug applications for Europe and the U.S. scheduled for 2009. The drug was approved in Japan four years ago.

"The efficacy of chemotherapy for patients with small cell lung cancer has plateaued over the last two decades," said Mark R. Green, M.D., clinical professor of medicine at the Medical University of South Carolina. "In particular, the outlook for patients with extensive SCLC at diagnosis and after failure of first line therapy remains poor. The current efficacy for amrubicin therapy in these SCLC settings is very encouraging."

- check out the release on the acquisition

Related Article:
Pharmion signs $270M licensing deal for GPC's satraplatin. Report
Shares surge as satraplatin succeeds in Phase III. Report
Cabrellis pockets $27.5M in first round. Report

Shares surge as satraplatin succeeds in Phase III

Sun, 24 Sep 2006 20:01:37 -0400

Shares of Pharmion and GPC Biotech surged after the drug developers announced that volunteers in a Phase III trial of satraplatin for prostate cancer demonstrated a 40 percent reduction in the risk of disease progression. The reduced risks were compared to disease progression among volunteers taking a placebo along with prednisone. Researchers say they will continue to treat volunteers whose cancer has not progressed and track their outcomes. Germany's GPC says it plans to push ahead with an application for marketing approval in the U.S. later this year while Boulder, CO-based Pharmion is planning a European application in the first half of next year. Spectrum Pharmaceuticals stands to earn $20 million in milestones based on the regulatory approval of Satraplatin, which is why their shares shot up 48 percent on the news.

- here's the AP report on the trial data

ALSO NOTED: Forest files suit against Caraco; Cephalon R&D chief sees potential; and much more...

Tue, 11 Jul 2006 20:00:50 -0400

> Forest Laboratories is suing Caraco Pharmaceutical Laboratories claiming patent infringements on the antidepressant Lexapro. Report

> Cephalon's R&D chief says Wall Street is underestimating the market potential of its experimental cancer therapies. Report

> Germany's GPC Biotech has filed another part of its marketing application for the cancer therapy satraplatin. Report

> Kos Pharmaceuticals has filed a drug application with the FDA for a new form of its Niaspan cholesterol therapy. Report

> Array BioPharma has pocketed $18 million of the $32 million it will receive from a sale-leaseback deal. Report

And Finally… A new study says that people taking a potion made from a hallucinogenic mushroom reported mystical experiences that led to behavioral changes that lasted for weeks. Researchers urged people not to try to replicate this study at home. Article