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Caprion Pharmaceuticals Announces the Acquisition of a Novel Therapeutic Peptide with Broad Applicability in OncologyMontreal, Canada - March 14, 2006 – Caprion Pharmaceuticals Inc. announced today the acquisition of a novel therapeutic peptide with compelling Phase IIa pre-clinical and clinical data for the treatment of a variety of solid tumors. Caprion expects to initiate two additional Phase IIb studies in cancer by the fourth quarter of 2006. The therapeutic peptide – originally named TT-232 and now referred to as CAP-232 – was discovered by Dr. Gyorgy Keri and developed by Dr. Tamas Szuts at Biostatin Pharmaceutical Research and Development Ltd. of Budapest, Hungary. Biostatin characterized CAP-232’s mechanism of action in several animal model studies demonstrating dramatic reductions in tumor volumes across multiple cancer indications. They successfully completed extensive pre-clinical toxicology studies and two Phase I clinical trials, demonstrating safety and tolerability of CAP-232, which works through a novel mechanism targeting the distinct metabolism of tumor cells. CAP-232 showed early signs of efficacy in a Phase IIa trial in 12 patients with refractory metastatic melanoma. The product is being in-licensed from Expergen, a technology transfer and development organization led by Dr. Paul Meng, who recognized the potential of CAP-232 and set-out to identify the best global partners for its development "The acquisition of a safe and potentially blockbuster biologic in oncology is precisely what we were seeking to mature our clinical development pipeline, which we now expect to have at least three Phase II or later programs by year-end," said Lloyd M. Segal, Caprion’s President & CEO. "We are enthusiastic about potentially addressing significant unmet medical needs with CAP-232 and we intend to develop this product in multiple oncology indications where we have a clear body of evidence for efficacy." "TT-232 has been extensively characterized and it was time to find an appropriate partner to dedicate the necessary resources to demonstrate its further potential in the clinic", said Dr. Paul Meng, CEO of Expergen. "Caprion’s depth in oncology and its novel approaches to development made this an easy choice for us." Today more than 12,000,000 people in North America live with cancer. In 2006, it is estimated that more than 600,000 people die of the many forms of the disease. It is the second leading cause of death in North America, accounting for about one in four deaths. About Caprion Pharmaceuticals Inc. Caprion’s proteomics discovery platform - CellCarta® - is the leading means for profiling proteins in solid tissues and plasma. CellCarta® is a proprietary, state-of-the-art proteomics technology platform that serves as an engine for unparalleled disease target identification, predictive medicine and the creation of a proprietary therapeutic product pipeline. The power of Caprion’s technology has been successfully leveraged to secure multiple, platform-validating, revenue generating partnerships surrounding oncology target identification and clinical biomarker discovery. Collaborations with major bio-pharmaceutical partners – including Biogen Idec, Abbott, ICOS, Wyeth and Boehringer Ingelheim, among others – have generated over US$30 million in revenues, more than US$100 million in potential future milestone payments and the additional potential for significant future royalties on drugs developed by its partners. For more on Caprion, please visit www.caprion.com. FOR MORE INFORMATION CONTACT: |
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