Maxim Pharmaceuticals Receives Phase 2 SBIR Grant from National Cancer Institute for Testing of Lead Apoptosis Anti-Cancer Agent
Thursday March 13, 3:00 am ET
SAN DIEGO--(BUSINESS WIRE)--March 13, 2003--Maxim Pharmaceuticals, Inc. (Nasdaq:MAXM - News; SSE:MAXM) announced that it has been awarded a Phase 2 Small Business Innovation and Research (SBIR) grant from the National Cancer Institute (NCI) in the amount of $750,000. The grant will fund additional testing of MX2167, Maxim's leading apoptosis-inducing drug candidate for cancer. Maxim acquired its apoptosis platform technology through the acquisition of Cytovia, Inc. in 2000.
Through its screening of approximately one million compounds, Cytovia has discovered a broad portfolio of approximately 40 novel compounds that are at varying stages of preclinical development for the treatment of certain cancers. The Company's preclinical pipeline is supported by and can be further expanded using its proprietary cell-based screening technology that targets the identification of compounds that can modulate programmed cell death, or apoptosis. Compounds that induce apoptosis may serve as new drugs for cancer. MX2167 is among the compounds discovered by the Company using its high-throughput screening technology.
Research suggests that MX2167 is a potent, extremely fast and broad-spectrum inducer of apoptosis that has demonstrated in vitro and in vivo potency against multiple cancer types, including prostate cancer, breast cancer, colorectal cancer, non-small cell lung cancer, small cell lung cancer and leukemia. MX2167 has a novel mechanism of action and activates apoptosis from the cell surface, suggesting that the compound does not need to enter cancer cells to induce apoptosis. MX2167 has demonstrated efficacy in multiple single-agent preclinical cancer models, including dose-dependent tumor responses in multiple breast and colorectal cancer animal models. MX2167 is being prepared for IND-enabling studies. A U.S. Patent encompassing composition of matter and the use of MX2167 and related compounds was issued in October 2002.
Maxim Overview
Maxim Pharmaceuticals is a global biopharmaceutical company with a diverse pipeline of therapeutic candidates for life-threatening cancers, hepatitis C and chronic liver diseases. Maxim's research and development programs are designed to offer hope to patients by developing safe and effective therapeutic candidates that have the potential to extend survival while maintaining quality of life. Maxim has attracted an experienced international management group and a team of employees dedicated to commercializing life-enhancing product candidates. Joining this motivated team in its mission are world-leading scientific and clinical investigators and major pharmaceutical development partners.
Maxim's lead drug candidate Ceplene(TM) is currently being tested in the second, confirmatory Phase 3 trial designed to support approval in malignant melanoma. Ceplene is also currently being tested in a Phase 3 clinical trial for the treatment of acute myeloid leukemia, and in Phase 2 trials for the treatment of chronic hepatitis C and advanced renal cell carcinoma. More than 1,600 patients have participated in the Company's 17 completed and ongoing clinical trials in cancer and hepatitis C. Ceplene research and clinical results has been the subject of more than 80 presentations at major scientific and clinical meetings, and have been published in more than 300 scientific and clinical journals. Ceplene is an investigational drug and has not been approved by the U.S. Food and Drug Administration (FDA) or any international regulatory agency. In addition to Ceplene and the apoptosis modulator drug candidates, Maxim is developing its MX8899 topical gel, currently being tested in patients who suffer from oral mucositis and radiation dermatitis, both of which are side effects of certain cancer therapies.
This news release contains certain forward-looking statements that involve risks and uncertainties. Such forward-looking statements include statements regarding the efficacy, safety and intended utilization of Ceplene, the apoptosis inducers, and MX8899, and the conduct, results and timelines associated with the Company's clinical trials. Such statements are only predictions and the Company's actual results may differ materially from those anticipated in these forward-looking statements. Factors that may cause such differences include the risk that products that appeared promising in early research and clinical trials do not demonstrate safety or efficacy in larger-scale clinical trials, and the risk that the Company will not obtain approval to market its product candidates. These factors and others are more fully discussed in the Company's periodic reports and other filings with the Securities and Exchange Commission.
Note: The Maxim logo is a trademark of the Company.
Editor's Note: This release is also available on the Internet at maxim.com.
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Contact:
Maxim Pharmaceuticals, Inc.
Larry G. Stambaugh
Chairman, President and CEO
Anthony E. Altig
Chief Financial Officer
858/453-4040
or
Burns McClellan
John Nugent (Investors)
212/213-0006
or
Coffin Communications Group
Sean Collins (Media)
Valerie Bent (Media)
818/789-0100
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Source: Maxim Pharmaceuticals, Inc. |
