Systems Medicine (SM), a Subsidiary of Cell Therapeutics, Inc. (CTI), Announces Execution of CRADA with NCI/NIH to Develop Potential Cancer Treatments Targeting the Insulin Growth Factor (IGF) Pathway
... SEATTLE Aug. 22 /- Systems Medicine LLC (...Under terms of the CRADA which is effective for five years beginning... This is important research being conducted by leaders in the field at...Daniel D. Von Hoff M.D. Chief Medical Advisor to SMPhysician-in-Ch...
Date:8/22/2007
SEATTLE, Aug. 22 /PRNewswire-FirstCall/ -- Systems Medicine, LLC (SM),
a wholly-owned subsidiary of Cell Therapeutics, Inc. (CTI) (Nasdaq and
MTAX: CTIC), today announced they have entered into a Cooperative Research
and Development Agreement (CRADA) with the National Cancer Institute (NCI)
of the National Institutes of Health (NIH). The goal of this CRADA is to
develop patented products for the treatment of patients with cancer --
specifically, human monoclonal antibodies (hmAbs), peptides, and small
molecules that affect signal transduction through the insulin-like growth
factor (IGF) receptor type I (IGF-IR) and the insulin receptor (IR).
Under terms of the CRADA, which is effective for five years beginning
July 31, 2007, SM will have an exclusive option to elect an exclusive or
non- exclusive commercialization license to any inventions developed under
the CRADA. Scientists at SM and CTI will work with scientists at the
Protein Interaction Group at the NCI campus in Frederick, Maryland.
"This is important research being conducted by leaders in the field at
NCI that may offer advantages over other therapeutics directed at this
target. If successful, CTI would have exclusive rights to negotiate with
NIH for a product that targets the ligand that activates the IGF receptor,
unlike current approaches to IGF inhibition that target the receptor
directly," said James A. Bianco, M.D., President and CEO of Cell
Therapeutics, Inc. "This is another exciting addition to several early
stage targeted therapies we are evaluating including SRC inhibitors and
bisplatinates."
Daniel D. Von Hoff, M.D., Chief Medical Advisor to SM,
Physician-in-Chief and Director of the Clinical Translational Research
Division at the Translational Genomics Research Institute in Phoenix,
Arizona and head of CTI's strategic product portfolio committee noted that,
"the IGF system plays an important role in many physiological processes,
especially in pathological conditions such
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SOURCE Cell Therapeutics, Inc. Copyright©2007 PR Newswire. All rights reserved | |
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