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Oncothyreon announces issuance of patent for PX-867
Date:3/20/2008

BELLEVUE, WA, March 20 /PRNewswire-FirstCall/ - Oncothyreon Inc. (Nasdaq: ONTY) (TSX: ONY) today announced that the U.S. Patent and Trademark office has issued a patent for PX-867, a small molecule compound currently in preclinical development. The newly issued patent, U.S. Patent # 7,335,679, includes claims covering both composition of matter of PX-867 and pharmaceutical preparations containing PX-867.

PX-867 is an inhibitor of the phosphatidylinositol-3-kinase (PI-3-kinase)/PTEN/Akt pathway, the same pathway targeted by Oncothyreon's small molecule compound PX-866, which is expected to enter clinical development in 2008. Signaling through this pathway plays a critical role in the survival of cancer cells, and also contributes to a number of other disease states, including cardiovascular disease and autoimmune disease. The preclinical development for PX-867 has focused on cardiovascular disease. In particular, the compound has demonstrated activity as a coating on intravascular stents in preclinical models of atherosclerotic disease.

"We intend to seek a partner to develop PX-867 in non-oncology indications, particularly in cardiovascular applications, while focusing our internal development efforts on PX-866 in oncology, our core area of expertise," said Robert L. Kirkman, M.D. President and CEO of Oncothyreon. "We expect to file an Investigational New Drug Application for PX-866 in the coming quarter and to initiate a Phase 1 trial soon thereafter."

About Oncothyreon

Oncothyreon is a biotechnology company specializing in the development of innovative therapeutic products for the treatment of cancer. Oncothyreon's goal is to develop and commercialize novel synthetic vaccines and targeted small molecules that
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SOURCE Oncothyreon Inc.
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