Maxim Pharmaceuticals and Celera Genomics Expand Collaborative Agreement
SAN DIEGO--(BW HealthWire)--March 18, 2002--Maxim Pharmaceuticals (Nasdaq:MAXM - news; SSE:MAXM) announced today that it has expanded the scope of its Collaborative Research and License Agreement with Celera Genomics (NYSE:CRA - news), an Applera Corp. business.
The objective of the collaboration is to identify and develop novel small-molecule compounds that have the potential to be commercialized as new therapies for certain cancers.
As part of the expanded collaboration, Maxim will use its proprietary screening assay to evaluate 300,000 additional compounds from Celera's proprietary libraries for the purpose of identifying compounds that can induce programmed cell death, or apoptosis, in certain cancer cells. Under the terms of the original agreement initiated in March 2000, Maxim completed screening of approximately 400,000 compounds from Celera's proprietary libraries. Selected compounds from these libraries that exhibited pro-apoptotic activity when screened by Maxim are currently under preclinical development by Celera. The agreement provides Maxim the option of electing to jointly participate with Celera in the clinical development and commercialization of compounds identified through the collaboration.
``We are pleased with the progress of the first phase of this collaboration, and we look forward to combining our unique screening assay with Celera's portfolio of proprietary compounds through this expanded joint research effort,'' said Larry G. Stambaugh, Maxim's Chairman and Chief Executive Officer. ``There is a substantial medical need for new cancer therapies that can selectively induce apoptosis in tumor cells, and we believe that a combination of collaborative relationships and our internal development efforts may provide the best opportunity for accelerating the identification and development of new drug candidates.''
``We look forward to building upon the success of the first stage of this collaboration, which identified compounds currently under preclinical evaluation by Celera,'' said Michael Venuti, Ph.D., Senior Vice President, Research and General Manager, Celera South San Francisco. ``Maxim's novel assay system complements other high throughput technology platforms, such as proteomics and genomics, utilized by Celera in its effort to discover and develop novel small-molecule therapies against cancer.''
Maxim Overview
Maxim Pharmaceuticals is a global biopharmaceutical company with a diverse pipeline of product candidates for life-threatening cancers and hepatitis. Ceplene(TM), based on the naturally occurring molecule histamine, prevents the production and release of oxygen free radicals. Research suggests that treatment with Ceplene has the potential to protect critical immune cells and to prevent damage associated with oxygen free radicals. Ceplene is currently being tested in Phase 3 cancer clinical trials for advanced metastatic melanoma and acute myelogenous leukemia. Phase 2 trials of Ceplene are also underway for the treatment of hepatitis C and advanced renal cell carcinoma. More than 1,300 patients have participated in the Company's completed and ongoing clinical trials. Maxim is also developing small-molecule inhibitors and activators of programmed cell death, also known as apoptosis, that may serve as drug candidates for cancer, cardiovascular disease and other degenerative diseases. Lastly, the Company's MaxDerm(TM) technology is designed for the treatment of medical conditions for which topical therapy is appropriate such as oral mucositis, herpes, decubitus ulcers, shingles, burns and related conditions.
This news release contains certain forward-looking statements that involve risks and uncertainties. Such forward-looking statements include statements regarding the efficacy and intended utilization of Ceplene, the apoptosis modulator technology and MaxDerm, and regarding Maxim's clinical trials. Such statements are only predictions and Maxim'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, the risk that Maxim will not obtain approval to market its products, the risk that clinical trials may not commence when planned, the risks associated with the dependence upon collaborative partners, and the fact that Maxim will likely need to raise additional funds in the future, and if Maxim is unable to obtain the funds necessary to continue its operations, it may be required to delay, scale back or eliminate one or more or its product commercialization programs. These factors and others are more fully discussed in Maxim's periodic reports and other filings with the Securities and Exchange Commission.
Note: Ceplene(TM), MaxDerm(TM) and the Maxim logo are trademarks of the Company.
Editor's Note: This release is also available on the Internet at maxim.com.
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Contact:
Maxim Pharmaceuticals, San Diego
Larry G. Stambaugh/Dale A. Sander
Chairman, President and CEO/Chief Financial Officer
858/453-4040
or
Burns McClellan
Stephanie Diaz (Investors)/Kathy Jones, Ph.D. (Media)
212/213-0006 |
