Looks like Aronex may have got some the grant money.
biz.yahoo.com
Monday October 20 7:00 AM EDT
Company Press Release
Aronex Pharmaceuticals Awarded $1.1 Million In Grants
Funds Slated For Development of HIV Integrase Inhibitor
THE WOODLANDS, Texas, Oct. 20 /PRNewswire/ -- Aronex Pharmaceuticals, Inc. (Nasdaq:ARNX) announced
today that the National Institute of Allergy and Infectious Diseases has awarded the Company two Phase II Small
Business Innovation Research (''SBIR'') grants totalling $1.1 million. Funds are slated for the further development of
Zintevir(TM), the Company's HIV integrase inhibitor currently being evaluated in a Phase 1-2 clinical trial.
Funds from one grant of $750,000 will be used to support the clinical trial program of Zintevir. Zintevir is currently in a
Phase 1-2 clinical trial at New York Hospital - Cornell Medical Center. This trial is a multiple dose-escalating study
designed to test the safety, anti-viral activity and pharmacokinetics of Zintevir in HIV positive patients. The Company
anticipates completion of this trial in 1998. Additional funds totalling $356,000 are slated for the development of
analogs designed to inhibit HIV-1 integrase, a key enzyme which integrates the AIDS virus into human cellular DNA.
Zintevir is believed to exert its in vitro anti-HIV effects by inhibiting the integrase enzyme.
''Zintevir is a unique anti-HIV agent that exhibits a novel mechanism of action,'' said James M. Chubb, Ph.D., President
of Aronex Pharmaceuticals. ''Zintevir appears to inhibit integrase, the viral enzyme that catalyzes the insertion of viral
DNA into the chromosome of the host's cell. If Zintevir proves to reduce the amount of virus in HIV positive patients, it
could provide a new approach for treating HIV infections. The awarded grants will facilitate studies to further
understand the integrase interaction and provide evidence of potential efficacy in patients.''
Aronex Pharmaceuticals, Inc. is a leading biopharmaceutical company engaged in the identification and development of
proprietary innovative medicines to treat cancer and life-threatening infectious diseases. Aronex currently has four
products (Nyotran(TM), Atragen(TM), Annamycin and Zintevir(TM)) in various stages of ongoing clinical development
and a number of products in preclinical development.
Any statements which are not historical facts contained in this release are forward looking statements that involve risks
and uncertainties, including but not limited to those relating to the Company's early stage of development, future capital
needs, uncertainties related to clinical trial results, governmental regulations, no assurance of regulatory approval of
products, uncertainty of protection for patents and proprietary technology, manufacturing uncertainties, reliance on
third-party suppliers, lack of sales and marketing experience, risks associated with collaborative arrangements,
competition and technological change, no assurance of adequate third-party reimbursement, potential product liability,
availability of insurance and other risks identified in the Company's Securities and Exchange Commission filings.
SOURCE Aronex Pharmaceuticals, Inc. |
