DJ NEWSWIRE: Details on LOR!!!
2200 DJ 4~Jan-00 at 16:20:00 08,29
LQrus Therapeutics Inc.'s (LORFF) Virulizin drug was named the most
.promising new treatment for pancreatic cancer by the American Association for
Cancer Research.
The company completed its Phase I and II trials of the drug last April and
the results were very good, said Vera Belaouasoff, analyst at Northern
Securities. "The results doubled the survival time of patients with pancreatic
cancer,' one of the most deadly types of cancer, she said, More than 29,000
people are diagnosed with pancreatic cancer annually in the U.S., she said,
and only 4% of patients survive more than five years after diagnosis.
Philippe Lacaille, chairman and chiet executive of Lorus, said the company
is exploring different marketing strategies for Virulizin. 'We're considering
filing for a new drug Agubmission j,n Canada for second line therapy in
pancreatic cancer," he said. This strategy would allow the company to market
Virulizin without having to await the completion of the lengthy and costly
Phase 111 clinical trials. But, as a second line therapy, the drug couldn't he
introduced until the "gold stetridard" therapy had been used.
The current gold standard drug used to treat pancreatic cancer is Gerazar,
i,acaille said. Gemzar is owned by Eli Lilly & Co. (P.ELA), he said, and
usually loses its effectiveness within one year. However, up to 70% of
patients survive and require second-line treatmeril, he said.
The second strategic option is to complete Phase III trials and seek out a
strategic partner to.hclp bring Virulizi.n to market, Lacaille said. "We're
hoping to find a strategic- partner sametirfte this year," he said, noting that
Lorus is in talks with several major pharmaceutical companies. do declined to
elaborate.
Lacaille said Virulizin im still two to three years away from coming to
market as a first-line treatment. He estimates the market for Virulizin at
$350 million annually.
That pales in comparison to the multi-billion-dollar potential of three
small molecule compounds that the company recently licensed from Haryard
University, Lacaille said. in preclinical studies on animals, one of the
compounds, NC384, was found to be effective against colon cancer, Lacaille
said. Clinical studies are underway for all three compounds, he said, and the
U.S.'s National Cancer Institue believes enough in the potential of the
compounds that it has decided to fund the ondeavor.
The institute's financial a,-;siBtance and two recent financings totalling
C$16 million give the company enough cash to make several more small
acquisitions, Lacaille said. He declined to elaborate.
The company hopes to position Lorus as "the consolidator of cancer
technolqgy in Canada," he said.
-Stuart Weinberg, Dow Jones Newswires; 416-306-2032 |
