<<Somehow (for some unclear reasons, even to me <grrr>) I think that PFE is not yet ready to give up on rNIF. MI perfusion injury and some other cardiovascular events may benefit from anti-inflammatory drug like rNIF.>>
Maybe not. I still do not understand why neutrophil inhibitor is not sufficient to generate medical benefit in certain condition???
Friday June 14, 4:00 pm Eastern Time
Press Release
SOURCE: Corvas International, Inc.
Corvas to Regain Development and Commercialization Rights to UK-279,276 Anti-inflammatory Agent
SAN DIEGO, June 14 /PRNewswire-FirstCall/ -- Corvas International, Inc. (Nasdaq: CVAS - News) announced today that Pfizer Inc. has elected not to pursue further development of the anti-inflammatory agent UK-279,276 (formerly known as Neutrophil Inhibitory Factor, or rNIF) and plans to return exclusive, worldwide development and commercialization rights for the drug candidate to Corvas. UK-279,276 was most recently the subject of a Phase IIb clinical study conducted by Pfizer in acute ischemic stroke patients. The full data analysis completed by Pfizer indicates that UK-279,276 had no effect on recovery in this patient population and that there was no effect of UK-279,276 on recovery in any of the subgroups investigated. UK-279,276 was safe and well tolerated at all doses tested in the trial, which supports the previous results of a Phase IIa safety trial conducted by Pfizer.
"The news today is not totally unexpected following our recent announcement of the preliminary findings from this trial. Our next steps are to fully analyze the data and determine if rNIF warrants development for any other potential indications," said Randall E. Woods, President and Chief Executive Officer. "We will also continue to focus on the clinical development of our novel anticoagulant rNAPc2 and on the advancement of cancer drug candidates towards the clinic. We are currently on track to start a Phase II trial of rNAPc2 in the second half of this year in an indication that addresses a large unmet medical need in acute coronary syndromes."
Corvas International, Inc. is a biopharmaceutical company focused on the discovery and development of novel therapeutics that address today's largest medical markets, cardiovascular disease and cancer, based on the Company's expertise in vascular biology and protease modulation. Corvas expects to initiate a Phase II clinical trial in unstable angina and non-ST-segment elevation myocardial infarction patients in the second half of 2002 with its novel anticoagulant rNAPc2. The Company's cancer program is based on an enzyme family, genomics-driven approach to the discovery of therapeutic products that modulate the activity of serine proteases associated with the growth and progression of solid tumors.
This press release, including the statements regarding the potential future development of rNIF for other indications, the timing of clinical trials, the Company's strategy, as well as other statements that are not historical facts, are forward-looking statements within the meaning of the Private Securities Reform Act of 1995. Actual results could vary materially from those described as a result of a number of factors including those set forth in the Company's Annual Report on Form 10-K for 2001 and any subsequent SEC filings. In addition, there is the risk that the clinical trials for rNAPc2 for the treatment of patients with unstable angina and non-ST-segment elevation myocardial infarction will not commence in second half of 2002 as anticipated and, if commenced, will not be successful, the risk that the Company will incur expense to maintain rNIF while it completes its assessment of other potential indications and the risk that its programs may never generate marketable products. The Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this release, except as required by law.
SOURCE: Corvas International, Inc. |
