"Free! Free at last!
TUSTIN, Calif.--(BW HealthWire)--Nov. 21, 1997--Techniclone Corporation (Nasdaq:TCLN - news) today announced that the Company has reacquired the rights to LYM-1 (Oncolym (TM)) from Alpha Therapeutic Corporation.
Techniclone will manage further clinical development of Oncolym. Oncolym is being investigated for use as a treatment for intermediate- and high-grade non-Hodgkin's B-cell lymphoma.
Under the terms of the agreement, a substantial portion of the payments to Alpha Therapeutic will be based on milestones.
John N. Bonfiglio, Ph.D., Vice President, Business Development at Techniclone said ''The completion of this agreement is a win-win situation for both companies and represents the first step in implementing our long-term strategy of leveraging our core technologies. We feel that Alpha did a great job with the preparation of supporting clinical data and the positioning of Oncolym for the future.''
Carolyn Siegal, Vice President, Business Development of Alpha Therapeutic stated ''Alpha has a full product pipeline and is committed to new product development through in-licensing. However, we recognize that this transfer agreement is in the best interest of both Alpha and Techniclone's development programs.''
Techniclone and Alpha Therapeutic will immediately begin a 45-day transition period in which all Oncolym investigational clinical data and material information will be transferred to Techniclone for the continuation of the clinical investigation. Techniclone is currently discussing an expanded population protocol for Oncolym with the U.S. Food and Drug Administration (FDA).
''We believe the expanded protocol has the potential to redefine the clinical investigation of Oncolym in the treatment of intermediate- and high-grade non-Hodgkin's B-cell lymphoma. Our corporate goal is to resume the clinical investigation of Oncolym in the first quarter 1998,'' said Jamie C. Oliver, Pharm.D., vice president, Clinical Affairs.
Lon H. Stone, President and CEO, adds ''We are pleased with the progress that Alpha made in advancing Oncolym through the early clinical investigations. We are equally proud that we have advanced to the point that we can reacquire Oncolym, and because of our expanded resources and the technical advances in our manufacturing and drug development programs, we will be able to further accelerate the clinical development of Oncolym. We believe Oncolym will be competitive with existing therapies and therapies currently under development. Further clinical studies will confirm the product's full potential in clinical practice. It is our belief that Oncolym has the potential to greatly improve the quality of life for people with non-Hodgkin's lymphoma.''
Oncolym(TM)
Oncolym, Techniclone's most advanced drug development program, is an investigational treatment being studied for intermediate- and high-grade non-Hodgkin's lymphoma. Oncolym is a monoclonal antibody linked to a therapeutic radioactive isotope. The radiolabeled antibody is injected into the blood stream of the cancer patient and then the therapeutic radioactive isotope is delivered to the tumor site.
In preliminary clinical trials, Oncolym has achieved meaningful complete and partial remissions of tumors. The following side effects have been noted: thrombocytopenia and leukopenia of varying lengths. These side effects appear to be reversible and manageable.
Non-Hodgkin's Lymphoma
Non-Hodgkin's lymphoma is a malignant (cancerous) growth of cells in the lymph system. The lymph system is a connecting network of glands and vessels, which manufacture and circulate lymph throughout the body.
According to the American Cancer Society, an estimated 61,000 new cases of lymphoma will be diagnosed in 1997, including 7,500 cases of Hodgkin's disease and 54,000 cases of non-Hodgkin's lymphoma. According to the NCI, among the classified non-Hodgkin's lymphoma disease group, approximately 70 percent of the patient population is intermediate- and high-grade lymphoma. Since the early 1970's, incidence rates for non-Hodgkin's lymphoma have increased dramatically, making it one of the fastest rising cancers in the United States.
Current treatments for non-Hodgkin's lymphoma depend on the stage of the cancer (how far it has progressed), its location in the body, symptoms, and the general health and age of the patient. Treatments may include radiation therapy, chemotherapy, bone marrow transplants, stem cell transplants, and/or biological therapies.
Techniclone Corporation is a rapidly growing biotechnology company engaged in the research and development of therapeutics for the treatment of cancer. The Company is a world leader in collateral targeting, a powerful new approach to destroying cancerous tumors without attaching to surrounding healthy tissue. The Company's lead collateral targeting technologies include: Tumor Necrosis Therapy (TNT), Vascular Targeting Agents (VTAs) and Vasopermeation Enhancement Agents (VEs). Techniclone's most advanced drug development program is LYM-1 (Oncolym(TM)), which is being investigated for the treatment of non-Hodgkin's B-cell lymphoma.
For additional Company and product pipeline information, please visit Techniclone Corp.'s web site at techniclone.com.
This release contains certain forward-looking statements, including statements regarding the clinical investigation, timing approval and commercialization of products that involve a number of risks and uncertainties. Actual events of results may differ from the Company's expectations as a result of risk factors discussed in Techniclone's reports on file with the U.S. Securities Exchange Commission (including, but not limited to, the report on Form 10Q/A for the quarter ended July 31, 1997, and the Company's report on Form 10K/A for the year ended April 30, 1997).
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Contact:
Techniclone Corporation, Tustin
William (Bix) Moding, 714/508-6040
or
Jennifer C. Gianola, 714/508-6034
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