Navigation Links
Proteolix, Inc. to be Acquired By Onyx Pharmaceuticals

SOUTH SAN FRANCISCO, Calif., Oct. 12 /PRNewswire/ -- Proteolix, Inc. today announced that it has signed a definitive agreement to be acquired by Onyx Pharmaceuticals, Inc. (Nasdaq: ONXX). Proteolix is a privately-held biopharmaceutical company focused on discovering and developing novel therapies that target the proteasome for the treatment of hematological malignancies and solid tumors. Proteolix's lead compound, carfilzomib, is a proteasome inhibitor currently in multiple clinical trials, including an advanced Phase 2b clinical trial for patients with relapsed and refractory multiple myeloma.

"Proteolix has succeeded in pioneering a new class of potent proteasome inhibitors, as demonstrated by the promising data achieved in multiple studies of our lead candidate, carfilzomib. We believe Onyx truly shares our vision for carfilzomib as an important new therapy in oncology and recognizes Proteolix's scientific leadership in proteasome inhibition," said John A. Scarlett, M.D., President and Chief Executive Officer of Proteolix. "Onyx's proven track record and commercial resources in oncology are impressive. We are excited to join forces and together we are poised to advance carfilzomib through regulatory approval and achieve our ultimate objective of helping patients."

Under the terms of the transaction, Onyx will make a $276 million cash payment upon closing of the transaction. Additional payments include $40 million payable in 2010 based on the achievement of a development milestone and up to $535 million contingent upon the achievement of anticipated approvals for carfilzomib in the U.S. and Europe. Of the potential $535 million, a payment of $170 million is based upon the achievement of accelerated U.S. Food and Drug Administration approval. The transaction is expected to close in the fourth quarter of 2009, subject to the receipt of clearance under the Hart-Scott-Rodino Act and customary closing conditions.

Proteolix is a leader in developing therapeutics that inhibit the cellular proteasome, a validated and well-characterized approach to treating certain hematologic cancers. Carfilzomib is the first in a new class of selective and irreversible proteasome inhibitors. To date, carfilzomib has demonstrated strong response rates in multiple studies and a potentially more tolerable safety profile than currently approved agents. An ongoing accelerated approval Phase 2b trial in patients with relapsed and refractory multiple myeloma is expected to complete enrollment in 2009 with data anticipated in the second half of 2010. Carfilzomib is also being evaluated in a companion Phase 2 trial in relapsed multiple myeloma. A Phase 3 trial evaluating carfilzomib in combination with lenalidomide and dexamethasone as a potential treatment option for patients with multiple myeloma is expected to begin in 2010. Carfilzomib is also being evaluated in a Phase 1b/2 study for solid tumor cancers. In addition, Proteolix has discovered additional next-generation proteasome inhibitors to which it holds worldwide development and commercialization rights, including an oral proteasome inhibitor and a selective immunoproteasome inhibitor.

"Treatment options in multiple myeloma have historically been limited, and there is a tremendous need to expand the treatment paradigm with agents offering an improved efficacy and safety profile," said Michael Kauffman, M.D., Ph.D., Chief Medical Officer at Proteolix. "Carfilzomib is in multiple ongoing clinical studies and has revealed clear single-agent activity in a heavily pre-treated multiple myeloma patient population, as well as being well tolerated alone, or in combination with Revlimid. Upcoming data for carfilzomib could support the potential near-term introduction of a novel therapy for this debilitating disease."

Cooley Godward Kronish LLP acted as legal advisor to Proteolix on this transaction.

About Multiple Myeloma

Multiple myeloma (MM) is the second most common hematologic cancer and results from an abnormality of plasma cells, usually in the bone marrow. In the United States, more than 50,000 people are living with MM and approximately 20,000 new cases are diagnosed annually(i). Worldwide, more than 180,000 people are living with MM and approximately 86,000 new cases are diagnosed annually(ii).

About Carfilzomib

Carfilzomib is the first in a new class of highly specific proteasome inhibitors. Carfilzomib produces specific and sustained inhibition of the proteasome, leading to apoptosis in cancer cells with minimal off-target effects. In Phase 1 and Phase 2 clinical trials, carfilzomib has demonstrated single-agent activity in hematologic and solid tumors, including multiple myeloma and renal cancer. Proteolix is currently conducting a comprehensive clinical development program evaluating carfilzomib for the treatment of multiple myeloma, including two ongoing Phase 2 clinical trials of single-agent carfilzomib, one in heavily pre-treated relapsed and refractory patients with progressive disease who have failed to respond to prior treatment, and a second in relapsed patients stratified by prior treatment with bortezomib. A Phase 1b clinical trial of carfilzomib in combination with lenalidomide and dexamethasone in patients with relapsed multiple myeloma is also ongoing. In addition, based on promising Phase 1 results, Proteolix is conducting a single-agent Phase 1b/2 clinical trial of carfilzomib in patients with recurrent or advanced solid tumors. For the latest information regarding ongoing carfilzomib clinical trials, please visit

About Onyx Pharmaceuticals, Inc.

Onyx Pharmaceuticals, Inc. is a biopharmaceutical company committed to improving the lives of people with cancer. The company, in collaboration with Bayer HealthCare Pharmaceuticals, Inc., is developing and marketing Nexavar®, a small molecule drug. Nexavar is currently approved for the treatment of liver cancer and advanced kidney cancer. Additionally, Nexavar is being investigated in several ongoing trials in a variety of tumor types. For more information about Onyx, visit the company's website at

About Proteolix, Inc.

Founded in December 2003, Proteolix, Inc. is a privately-held biopharmaceutical company, headquartered in South San Francisco, dedicated to discovering, developing and commercializing novel therapeutics that target protein degradation pathways for cancer and autoimmune diseases. Proteolix's lead product, carfilzomib, is the first in a new class of highly specific proteasome inhibitors, and is currently in multiple Phase 2 clinical studies to evaluate its safety and efficacy in multiple myeloma and other malignancies. Proteolix is also developing a pipeline of novel proteasome inhibitors, including an oral proteasome inhibitor and a selective immunoproteasome inhibitor.

Venture capital investors in Proteolix include U.S. Venture Partners, Advanced Technology Ventures, Latterell Venture Partners, Delphi Ventures, The Vertical Group, Nomura Phase4 Ventures and Westfield Capital Management.


    Craig C. Parker
    Senior VP, Finance and Corporate Development
    & Chief Financial Officer

    Media Inquiries:
    BCC Partners
    Karen L. Bergman or Michelle Corral
    650-575-1509 or 415-794-8662

(i) National Cancer Institute, Surveillance Epidemiology and End Results, 2007 Facts and Figures

(ii) International Agency for Research on Cancer, GLOBOCAN 2002 database

SOURCE Proteolix, Inc.

SOURCE Proteolix, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Reportlinker Adds Nosocomial Infections: Market Impact on Diagnostics and Therapeutics: (MRSA, HAP, C. diff and other Hospital Acquired Infections) Report
2. To: All Persons and Entities Who Purchased or Acquired Bristol-Myers Common Stock Between the Close of the Market on March 21, 2006, Through August 8, 2006, Inclusive
3. Avacor(R), Premier Provider of Hair Growth Solutions, Acquired By Investor Group.
4. Blue Cross Blue Shield of Michigan-owned DenteMax Acquired by Dental Network of America
5. Forest Laboratories Announces Positive Top-line Data from Two Pivotal Phase III Trials of Ceftaroline for the Treatment of Community-acquired Bacterial Pneumonia (CABP) Requiring Hospitalization
6. Despite Generic Erosion of Key Brands, the Hospital-Acquired Gram Negative Infections Drug Market Will Increase by $1 Billion from 2008 to 2018
7. MedServe to be Acquired by Stericycle for $185 Million
8. Brockton Mayor, James E. Harrington Calls Press Conference to Unveil Newly Adopted Auto Emissions Technology Acquired With Federal Stimulus Money
9. Versailles Group Announces Accentus, Inc. Acquired by High Road Capital Partners
10. All Persons Who Purchased or Acquired the Common Stock of Sunrise Senior Living, Inc. (Sunrise) Between February 26, 2004 and July 28, 2006, Inclusive, and Were Damaged Thereby (The Class)
11. Scent To Sleep All Natural Non-Drowsy Sleep Mist Acquired by Innovative Custom Products, Inc. (ICP)
Post Your Comments:
(Date:11/30/2015)... ... 2015 , ... Insightra Medical, Inc. and Novus Scientific AB ... soft tissue repair in the US via Insightra’s national direct sales channel. , ... to support and reinforce soft tissue for 6-9 months before absorbing completely after ...
(Date:11/30/2015)... Viejo, CA (PRWEB) , ... November 30, 2015 , ... ... Cut Pro X . Choose from scrolling web-styled transitions to wipes with blur ... colors, transition direction and more. Seamlessly transition from one clip to the next ...
(Date:11/30/2015)... ... November 30, 2015 , ... Workstation solutions provider ... 30 HealthPostures’ dealers located throughout the United States, is OneStop Ergonomics. The addition ... industrial, manufacturing and government workers and organizational leaders that are introduced to innovative ...
(Date:11/29/2015)... ... November 30, 2015 , ... Gift ideas for ... Beauty NATURALS®. All products are available on Amazon or its webstore. , "We ... serums and USDA Certified Organic Sesame Oil for Oil Pulling," says Kathy Heshelow, ...
(Date:11/29/2015)... ... November 29, 2015 , ... Khanna Vision Institute based ... of Ophthalmology on November 25th 2015. Peer Certification by the Board is done ... specialty. Certification in Ophthalmology is first obtained after the completion of three years of ...
Breaking Medicine News(10 mins):
(Date:11/29/2015)...  The GE Health Cloud 1 was unveiled today ... North America (RSNA) meeting in ... new cloud ecosystem and its applications will connect radiologists and ... multidisciplinary teams – both inside and outside the hospital setting. ... GE. "As the digital industrial leader, we are betting big ...
(Date:11/27/2015)... 27, 2015 Ein neuer ... Krebs.   --> Ein neuer Kombinationsansatz ...   --> Ein neuer Kombinationsansatz ...   Clinical Cancer Research vom ... Cancer Research vom 6. November 2015 berichtet. ...
(Date:11/26/2015)... Países Bajos, November 26, 2015 ... fotodinámica de Bremachlorin para el cáncer avanzado.   ... con la terapia fotodinámica de Bremachlorin para el cáncer ... enfoque combina la inmunoterapia con la terapia fotodinámica de ... Clinical Cancer Research . --> Clinical Cancer ...
Breaking Medicine Technology: