Attention Business Editors:
INFLAZYME SIGNS LETTER OF INTENT TO LICENSE ANTI-CANCER DRUGS TO SUPERGEN
VANCOUVER, B.C. and EMERYVILLE, C.A., August 27 /CNW/ - Inflazyme
Pharmaceuticals Ltd. (Vancouver Stock Exchange: IZP) and SuperGen, Inc.
(Nasdaq: SUPG & SUPGW) jointly announced today that the two companies have
signed a letter of intent that grants SuperGen the exclusive worldwide rights
to anti-cancer and all other applications, except inflammation, of certain
Inflazyme technologies and drugs.
Inflazyme stated that preclinical laboratory studies of its drugs have
shown effectiveness against lung, colon and skin cancers, as well as lymphomas
and leukemias. Additionally, certain of the drugs target multi-drug resistant
(MDR) cancers that no longer respond to available therapies. Based on results
to date, the companies said U.S. human clinical trials could begin as early as
1997.
While the terms of the agreement have been defined, they were not
specifically disclosed. The companies said the License granted to SuperGen is
based on a combination of equity investment in Inflazyme's common stock,
milestone payments and royalties to Inflazyme on net product sales. The final
Licensing Agreement between the companies remains subject to mutual review,
which is expected to be within 60 days.
``We are convinced that SuperGen is an excellent partner for Inflazyme's
oncology opportunities since that is one of SuperGen's primary areas of
focus,'' stated Hassan Salari, Ph.D., President and CEO of Inflazyme. ``Our
primary focus remains inflammation, and we retain those rights. We are
confident that due diligence for the final agreement can proceed quickly.''
``Inflazyme's compounds can be a strong addition to our growing pipeline
of anti-cancer drugs, enhancing our existing tier of proprietary, value-added
products,'' said Joseph Rubinfeld, Ph.D., President and CEO of SuperGen. ``The
value Inflazyme has already built into these drugs is consistent with our
strategy of entering the game at the 50-yard line and allows us to leverage
our core strengths in clinical development.''
Inflazyme Pharmaceuticals Ltd. is a biopharmaceutical company
specializing in the design, discovery and commercialization of novel
generations of drugs which combat such major diseases as asthma, allergies,
arthritis and numerous other illnesses categorized as inflammatory diseases.
The company's proprietary small-molecule pharmaceuticals are the products of
its own Transcription Factor-based drug development programs involving the
utilization, synergistically, of a variety of combinatorial chemistry,
molecular modeling, and structural synthesizing and screening techniques.
Inflazyme's existing world-patented 50-compound family of drugs, capable of
functioning as both therapeutics and preventatives, have exhibited efficacies,
potencies and durations-of-action which are significantly greater than
steroids, yet cause none of the pervasive side effects which steroids
typically produce. Because of their universal applicability and ready
adaptability to delivery via inhaler or in pill, powder or syrup form, the
company's proprietary compounds are projected to replace steroids as
first-line therapies for the management of a wide variety of inflammatory
diseases. Inflazyme's current lead drugs are Apanol for asthma, Tiesole for
allergies, and Bispan for arthritis. In its search for anti-inflammatory
drugs, the company has also discovered a novel generation of small molecules
that may provide treatment of various cancer types, which are the subject of
the License Agreement with SuperGen.
Based in Emeryville, CA, SuperGen is a development stage pharmaceutical
company dedicated to the development and commercialization of products
intended to treat life-threatening diseases, particularly cancer and blood
cell disorders, as well as other serious conditions such as obesity. SuperGen
is developing its anticancer portfolio of nine generic products and five
enhanced or ``supergeneric'' products. Blood cell disorder products under
development currently target anemias associated with chemotherapy and
radiotherapy, renal failure and aplastic anemia. The company's obesity pill
currently is in Phase II human clinical trials.
The Vancouver Stock Exchange has neither approved nor disapproved of the
information contained herein.
For further information: James King, Manager of Investor Relations, Inflazyme Pharmaceuticals Ltd. (604) 733-5181 or 1-800-315-3660; Les Stickles, SuperGen,
Inc. (510) 655-1075, extension 210
09:01e 27-AUG-96 |
