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
|SOURCE Viventia Biotech Inc.|
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