Press Release
SOURCE: Incara Pharmaceuticals Corporation
Incara to Develop Catalytic Antioxidants for Use as Adjunctive Therapies in Cancer Treatment
Receives Equity Investment from Elan Corporation, plc.
RESEARCH TRIANGLE PARK, N.C., May 20 /PRNewswire-FirstCall/ --
Incara Pharmaceuticals Corporation (Nasdaq: INCR - News) today announced that an affiliate of Elan Corporation, plc. has made an equity investment in Incara, which will enable the development of Incara's catalytic antioxidant compounds as adjunctive agents to cancer treatment. Specifically, the compounds may reduce therapy-limiting side effects and improve outcome of radiation therapy. Radiation therapy is the most common treatment used for cancer. Approximately 50% of cancer patients, or 500,000 individuals, receive radiation therapy annually in the United States during the course of their cancer therapy.
Radiation therapy produces damage to cancer cells but also damages healthy cells, limiting the amount of radiation that can be administered and the overall success of treatment. In animal models of cancer therapy, Incara's antioxidants have provided protection to normal cells and do not protect cancer cells from radiation. Target applications include protecting the lining of the bladder in cervical cancer therapy, protecting the colon in prostate cancer therapy and protecting the lungs in breast and lung cancer therapy.
Elan purchased $3 million of Series B preferred stock of Incara at the equivalent of $.72 per common share and has agreed that it may make additional equity investments related to this program in the future at the then current market prices. Elan receives an exclusive option to negotiate commercialization or collaboration terms at a later phase relating to catalytic antioxidants being developed in this field by Incara and its wholly-owned subsidiary, Aeolus Pharmaceuticals, Inc.
"Our catalytic antioxidants protect normal tissue from radiation-induced injury in several animal models and do not limit the anti-tumor effect of radiation," said Clayton I. Duncan, President and CEO of Incara. "With funds from this investment, we intend to begin advancing these research findings into clinical testing in humans."
Incara's catalytic antioxidant molecules inactivate reactive oxygen- derived molecules, such as superoxide, hydrogen peroxide and peroxynitrite, in a manner similar to that of naturally occurring enzymes that normally protect the body from these harmful oxygen breakdown products. These reactive oxygen species are believed to play an important role in the delayed tissue injuries that limit the use of radiation therapy for cancer treatment. |
