NEW YORK, April 21 /PRNewswire/ -- Crystal Research Associates, LLC announced today that it has issued an Executive Informational Overview(R) (EIO(R)) on ACT Biotech, Inc. The full 56-page report can be found at www.crystalra.com.
ACT Biotech, Inc. ("ACT Biotech" or "the Company") is a closely held pharmaceutical company focused exclusively on the development and commercialization of novel cancer therapeutics. Following a technology spinout from Bayer HealthCare LLC, ACT Biotech was founded with worldwide rights to a portfolio of in-licensed compounds that now compose four oncology programs. Each program demonstrates activity against a different set of molecular targets--including several kinases that are associated with cancer cell communication and growth--in order to inhibit various signaling pathways that are important in tumor development.
The Company's lead candidate, Telatinib, is a potent and highly selective oral tyrosine kinase inhibitor compound that targets pathways associated with the formation of tumor-related blood vessels (angiogenesis). While ACT Biotech has selected gastric (stomach) cancer as Telatinib's lead clinical target, the agent has also demonstrated solid potential as a drug candidate to treat colorectal, liver, and kidney cancers. In addition, based on its ability to readily combine at full dose with various standard-of-care chemotherapy regimens, Telatinib may have expansion opportunity to treat other major cancers, such as lung, breast, and prostate cancers. Gastric cancer is the second leading cause of cancer-related death worldwide with approximately 800,000 fatalities in 2007. It is also the fourth most common cancer, with over one million new cases diagnosed in 2007. The Company aims to initially develop Telatinib in two indications, gastric and colorectal cancer, with patient enrollment for a Phase II trial set to begin during the second quarter 2009.
ACT Biotech's second product candidate is the Multi-Mode Kinase Inhibitor (ACTB1003), an oral anticancer compound that works via several mechanisms of action: (1) targeting select kinases that are altered in human cancers; (2) inhibiting angiogenesis; and (3) inducing apoptosis (programmed cell death). When evaluated against other oral, commercially available, targeted agents, ACTB1003 demonstrated greater anti-tumor activity in vivo. The compound may have utility in several major indications, including non-small cell lung cancer, breast cancer, colorectal cancer, multiple myeloma, bladder cancer, and melanoma. The Company intends to file an Investigational New Drug (IND) application for ACTB1003 and to commence clinical testing during 2009.
ACT Biotech, which was founded in early 2008, is currently following a three-year operating plan during which it intends to pursue various strategic alliances. The Company is headquartered in San Francisco, California.
About Crystal Research Associates, LLC
Crystal Research Associates, LLC is an independent research firm that provides institutional-quality, fee-based research to small and mid-cap companies. Crystal Research Associates' unique and novel product, the Executive Informational Overview(R) (EIO(R)), is free of investment ratings, target prices, and forward-looking financial models. The EIO(R) presents a crystal-clear, detailed report on a company (public or private) in a manner that is easily understood by the Wall Street financial community. The EIO(R) details a company's product/technology/service offerings, market size(s), key intellectual property, leadership, growth strategy, competition, risks, financial statements, key events, and other such fundamental information. Crystal Research Associates has offices in New York City, Delray Beach, Montreal, and Toronto. Crystal Research Associates has been compensated by the Company in cash of forty thousand U.S. dollars for its services in creating and updating the base report, for updates, and for printing costs.
Forward-Looking Safe Harbor Statement
Statements in this news release regarding future financial and operating results, potential applications of the Company's technology, opportunities for the Company, and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including limited operating history, need for future capital, and economic conditions generally. Additional information on potential factors that could affect results and other risks and uncertainties are detailed from time to time in the Company's reports.
These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties. Crystal Research Associates assumes no obligation to update any of the forward-looking statements in this release.
|SOURCE Crystal Research Associates, LLC|
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