NEW YORK--(BW HealthWire)--Nov. 5, 1997--ImClone Systems Incorporated (Nasdaq:IMCL) announced today that the Company has acquired exclusive rights to a recently discovered protein which may play an important role in the early growth of cancers.
This protein, referred to as VE-cadherin-2, is believed to enable the formation of a capillary blood vessel network in solid tumors, an essential step in the uncontrolled growth of malignancies. ImClone Systems is developing antagonists to VE-cadherin-2 to inhibit tumor vascularization. In connection with its acquisition of exclusive relevant patent applications, the Company initiated a collaboration with Mario Negri Institute (Milan, Italy) to conduct pharmacological research in the laboratory of Elisabetta Dejana, Ph.D., who is investigating the role of VE-cadherin-2 in angiogenesis.
"At ImClone, VE-cadherins represent new targets for anti-cancer therapeutics that complement the Company's ongoing anti-angiogenesis program," commented Peter Bohlen, Ph.D., Vice President of Research at ImClone Systems. "Our near-term goal is to apply proprietary molecular design and high-throughput screening assays that can identify small-molecule and antibody-based inhibitors of VE-cadherins."
ImClone Systems' lead anti-angiogenesis compound is a monoclonal antibody that inhibits the tyrosine kinase receptor known as KDR/FLK-1, located on tumor-associated capillary blood vessels. The KDR/FLK-1 receptor, when stimulated by tumor-derived vascular growth factor, VEGF, mediates the tumor-associated formation of new blood vessels. ImClone scientists are conducting preclinical research to determine potential clinical utility of the Company's monoclonal-antibody antagonist of KDR/FLK-1 and to obtain regulatory approval for clinical studies.
ImClone Systems has two oncology products in late-stage clinical development and is advancing earlier drug candidates to the clinical stage. The Company is currently evaluating C225, an epidermal growth factor receptor (EGFr) antagonist, in head and neck cancer patients in three Phase Ib/IIa dose-escalation trials in combination with other anti-cancer therapies. ImClone expects to initiate Phase II/III studies to evaluate the potential of C225 in various tumor types. In addition, ImClone intends to initiate a Phase III multinational trial in small cell lung cancer patients with the Company's anti-cancer vaccine, BEC2, in the fourth quarter of this year.
ImClone Systems Incorporated, headquartered in New York, is a biopharmaceutical company developing novel therapeutic products including interventional therapeutics, cancer vaccines and blood cell growth factors for the treatment of cancer and cancer-related disorders. -0- Except for the historical information contained herein, the matters discussed in this news release may include forward-looking statements. Actual results may differ materially from those predicted in such forward-looking statements due to the risks and uncertainties inherent in the Companies' businesses, including, without limitation, risks and uncertainties in obtaining and maintaining regulatory approval, market acceptance of and continuing demand for the Companies' products, the impact of competitive products and pricing, and the Companies' ability to obtain additional financing to support their operations. The Companies undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof.
CONTACT:
ImClone Systems Incorporated, New York
Andrea F. Rabney
Director of Corporate Development and Investor Relations
212/645-1405
or
Burns McClellan, Inc., New York
Reagan Codner, Investors
Justin Jackson, Media
212/213-0006
KEYWORD: NEW YORK
BW1081 NOV 05,1997
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