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Poniard Pharmaceuticals Announces Commercial Supply Agreement for Picoplatin
Date:11/24/2008

SOUTH SAN FRANCISCO, Calif., Nov. 24 /PRNewswire-FirstCall/ -- Poniard Pharmaceuticals, Inc. (Nasdaq: PARD), a biopharmaceutical company focused on oncology, today announced an agreement with Baxter Oncology GmbH for the commercial manufacture and supply of injectable picoplatin drug product. Poniard is developing picoplatin, its lead product candidate, as a potential new platform product for the treatment of solid tumors. The Company is evaluating picoplatin in four clinical trials, including an ongoing pivotal Phase 3 trial in small cell lung cancer, Phase 2 trials in colorectal and prostate cancers, and a Phase 1 trial of an oral formulation.

"This agreement with Baxter Oncology GmbH for the commercial supply of picoplatin represents the achievement of another important milestone in our plan to develop picoplatin as an oncology platform compound addressing multiple indications, combinations and formulations," said Ronald Martell, president and chief operating officer of Poniard. "Baxter Oncology GmbH's industry-leading technology and state-of-the art finish/fill production capabilities will help ensure we meet our production and quality goals as we move toward commercialization of picoplatin in 2010."

In March 2008, Poniard entered into an agreement with W. C. Heraeus GmbH to manufacture picoplatin active pharmaceutical ingredient (API) and be ready to ship commercial quantities of picoplatin by 2009. Heraeus is the current manufacturer of picoplatin API for the Company's four ongoing clinical trials.

About Picoplatin

Picoplatin has an improved safety profile relative to existing platinum-based cancer therapies and is designed to overcome platinum resistance associated with chemotherapy in solid tumors. It is being studied in multiple cancer indications, combinations and formulations. Pic
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SOURCE Poniard Pharmaceuticals, Inc.
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