"It is a comfort for me to entrust the further development and potential commercialization of our exciting pipeline to Mr. Kenyon," said Ms. Shogen. "It has been a privilege to be part of Alfacell where I have experienced the rare opportunity to make an important scientific contribution and achieve the realization of my life's work."
"Our focus has begun to shift towards the necessary steps to grow Alfacell and maximize value for our shareholders," added Mr. Kenyon. "The termination of the royalty agreement will allow us to enhance our ability to increase investment in our promising technology platform. We are excited about the future of Alfacell, and I would like to congratulate Tina and commend her for the sound scientific foundation she has built for us."
ONCONASE is a first-in-class therapeutic product candidate based on Alfacell's proprietary ribonuclease (RNase) technology. A natural protein isolated from the leopard frog, ONCONASE has been shown in the laboratory and clinic to target cancer cells while sparing normal cells. ONCONASE triggers apoptosis, the natural death of cells, via multiple molecular mechanisms of action.
About Alfacell Corporation
Alfacell Corporation is the first company to advance a
biopharmaceutical product candidate that works in a manner similar to RNA
interference (RNAi) through late-stage clinical trials. The product
candidate, ONCONASE, is an RNase that overcomes the challenges of targeting
RNA for therapeutic purposes wh
|SOURCE Alfacell Corporation|
Copyright©2008 PR Newswire.
All rights reserved