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Biotech / Medical : Micromet Inc (MITI) -- Ignore unavailable to you. Want to Upgrade?

To: keokalani'nui who wrote (21)	4/3/2006 10:40:50 AM
From: dr.praveen	Read Replies (1) \| Respond to of 196

CancerVax Announces FDA Approval of IND for Novel Anti-Angiogenic Antibody D93 Monday April 3, 9:00 am ET <Hi Wilder...! Looks like we r back in Business:-)> CARLSBAD, CA--(MARKET WIRE)--Apr 3, 2006 -- CancerVax Corporation (NasdaqNM:CNVX - News), a biotechnology company focused on the research, development and commercialization of biological products for the treatment of cancer, announced today that the United States Food and Drug Administration (FDA) has approved the Company’s Investigational New Drug (IND) application for D93, an investigational, humanized, monoclonal antibody with a novel anti-angiogenic and tumor inhibitory mechanism of action. Preclinical studies with D93 have demonstrated its ability to reduce angiogenesis and inhibit tumor growth in in vivo models of several types of cancer. CancerVax plans to initiate a Phase 1 clinical trial to evaluate the safety and tolerability of D93 in the treatment of patients with solid tumors later in 2006. ADVERTISEMENT “Obtaining the FDA’s approval of our Investigational New Drug application for D93 is another important step in advancing the development program for our novel drug candidate for solid tumors,” said David F. Hale, President and CEO of CancerVax Corporation. D93 is a humanized, monoclonal antibody that inhibits tumor growth and angiogenesis, the formation of new blood vessels that feed rapidly growing tumors. Its mechanism of action differs from other angiogenesis inhibitors that are being evaluated in clinical trials or that have been approved by the FDA, such as Avastin® (bevacizumab). D93 selectively binds to targets in the extracellular matrix, a molecular network that provides structural support to tissues and regulates cellular processes such as adhesion, migration and cell growth. These targets are exposed during tumor formation, when the collagen comprising the extracellular matrix is denatured or remodeled by tumor cells. In preclinical studies, D93 has been shown to preferentially bind to denatured collagen in melanoma and colon, lung and breast tumors. Administering D93 with Taxol® (paclitaxel) has been demonstrated to inhibit tumor growth in animal models of human breast cancer better than either treatment alone. D93 has also been shown to inhibit tumor growth in pancreatic and melanoma tumor models, and by fluorescent antibody techniques to bind preferentially to the extracellular matrix around blood vessels in tumor sections taken from patients with cancer, as compared to healthy tissues adjacent to the tumor. About CancerVax Corporation (www.cancervax.com) CancerVax Corporation is a biotechnology company focused on the research, development and commercialization of novel biological products for the treatment and control of cancer. The Company's leading product candidate is D93, an anti-angiogenic, humanized, monoclonal antibody. CancerVax filed an investigational new drug application and plans to initiate a Phase 1 clinical trial with D93 in patients with solid tumors in 2006. In January 2006, CancerVax announced that it had entered into a definitive agreement to merge with Micromet, AG, a private, Munich, Germany-based biotechnology company with a focus on the development of novel, proprietary antibody-based products for cancer and inflammatory and autoimmune diseases. The merger, which is subject to a number of conditions, is expected to close in the second quarter of 2006. Upon closing of the transaction, the Company's shares are expected to continue to trade on the NASDAQ National Market. CancerVax will be renamed "Micromet," Inc., and application has been made to NASDAQ to change the ticker symbol to "MITI." On March 31, 2006, CancerVax filed an amended registration statement on Form S-4 with the U.S. Securities and Exchange Commission in connection with the transaction. This registration statement contains a proxy statement/prospectus.