ImClone Systems Incorporated Reports on Anti-angiogenesis Data at
American Association for Cancer Research Meeting
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NEW ORLEANS, La.--(BW HealthWire)--March 30, 1998--ImClone Systems Incorporated (Nasdaq:IMCL - news) today announced the presentation of data at the annual meeting of the American Association for Cancer Research concerning the Company's class of anti-angiogenesis compounds that inhibit the receptor for tumor-derived vascular endothelial growth factor (VEGF). This receptor, known as the KDR/FLK-1 receptor, is expressed on tumor associated capillary blood vessels and is
believed to play a major role in the vascularization of tumors and their malignant growth. ImClone's researchers presented data
demonstrating the development of a monoclonal antibody that blocks in vitro binding of VEGF to the human KDR receptor and inhibits VEGF stimulated growth of endothelial cells. Preliminary data suggests that the antibody also inhibits the growth of human tumor-associated blood vessels.
''We are proud of the work of our research team, which has been pivotal in the discovery of the VEGF receptor and elucidation of this receptor's critical role in the growth of tumor associated vasculature,'' commented Samuel D. Waksal, President and Chief Executive Officer of ImClone Systems. ''The findings being presented at AACR, provides the underpinning for an IND filing anticipated in 1999.''
The Company is pursuing earlier stage research aimed at identifying novel small molecule antagonists of VEGF receptors. In addition, 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 studying C225, an epidermal growth factor receptor (EGFr) antagonist, in head and neck cancer patients in Phase Ib/IIa dose-escalation trials in combination with other anti-cancer therapies, including chemotherapy and radiation. The Company is also conducting a Phase II C225 trial for the treatment of
patients with metastatic renal cell carcinoma. ImClone expects to initiate additional Phase II/III studies to evaluate the potential
of C225 in various tumor types. ImClone's other late stage clinical development program is an anti-cancer vaccine, BEC2. ImClone and its corporate partner, Merck KGaA, intend to initiate a Phase III multinational trial to study BEC2 in small cell lung cancer patients.
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.
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 Company's business, including, without limitation, risks and uncertainties in obtaining and maintaining regulatory approval, market acceptance of and continuing demand for the Company's products, the impact of competitive products and pricing, and the Company's ability to obtain additional financing to support its operations. The Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.
Contact:
ImClone Systems Incorporated
Andrea F. Rabney
Senior Director of Corporate Development and
Investor Relations
(212) 645-1405
Burns McClellan, Inc.
Reagan Codner (investors)
Justin Jackson (media)
(212) 213-0006 |
