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Viventia Biotech to Explore Strategic Alternatives - Reports Positive Pivotal Phase III Interim Efficacy Data
Date:1/29/2008

TORONTO, Jan. 29 /PRNewswire/ - Viventia Biotech Inc., a privately held biopharmaceutical company advancing a portfolio of novel antibody therapeutics focused on cancer, announced today it intends to explore strategic alternatives to further advance and realize value from its pipeline of therapeutic antibodies, its antibody discovery platform and its antibody manufacturing capabilities. The Company will consider potential strategic opportunities including, but not limited to, the sale or merger of the Company with another entity, and has retained HSBC to act as advisors in this process.

The Company also provided an update on the clinical development programs for Proxinium(TM) (Phase 3), Vicinium(TM) (Phase 2) and VB6-845 (Phase 1). Proxinium(TM) is undergoing a global pivotal Phase 3 trial (the 'TARGET' trial) in approximately 300 patients with advanced head and neck cancer. Viventia recently completed an interim efficacy assessment on the study's primary endpoint of median survival. These preliminary results demonstrated a clear survival advantage in the Proxinium(TM) arm.

"We have successfully advanced three antibody programs into clinical trials, and are about twelve months from expected final efficacy data for our pivotal Phase 3 TARGET trial of Proxinium(TM). We believe that our recently performed interim efficacy analysis of survival data from TARGET strongly supports the future prospects for this drug. In addition to our clinical programs, we have generated a broad pipeline from our antibody discovery platform, which has yielded a number of compelling novel targets, including several that have expression profiles consistent with cancer stem cells, an exciting new area of cancer research," said Dr. Nick Glover, President and CEO of Viventia Biotech. "We believe it is important to explore all options to ensure adequate resources are available for the advancement of our products through to commercialization and to further recognize the value
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SOURCE Viventia Biotech Inc.
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