Celator(R) Pharmaceuticals Announces Positive Phase 2 Results for CPX-1 in Treatment of Colorec... (percent; no patient achieved an objectiv...)

Celator(R) Pharmaceuticals Announces Positive Phase 2 Results for CPX-1 in Treatment of Colorectal Cancer

Date:6/3/2008

percent; no patient achieved an objective response. The median PFS was 2.3 months. Three patients had a >6 month PFS. The disease control and median PFS are similar to results achieved in this patient population for approved agents (panitumumab or cetuximab monotherapy).

Safety data were qualitatively similar to that of irinotecan and a fluoropyrimidine with neutropenia, diarrhea, nausea, vomiting and fluid loss events (dehydration and hypokalemia) being the most common. The 210 unit/m2 dose produced more toxicities than seen in the CPX-1 Phase 1 clinical trial, resulting in only 40 percent of patients receiving >80 percent of the planned dose intensity. Treatment will be initiated at a lower dose in future studies.

"The efficacy results in this study are very encouraging, particularly compared to historical data," said Arthur Louie, M.D., chief medical officer of Celator. "These data support that drug ratios may play an important role when combining drugs to treat patients. This study shows that well established drugs with proven activity may offer greater clinical benefit when a synergistic ratio is identified and the individual drugs are locked into a drug delivery vehicle able to deliver and maintain the desired ratio in patients. Our goal is to substantially improve clinical outcomes by using our proprietary CombiPlex(TM) technology."

About Celator

Celator Pharmaceuticals, Inc., is a privately held pharmaceutical company working to develop new and more effective therapies to treat cancer. CombiPlex(TM), the company's drug ratio technology platform, represents a revolutionary new approach that identifies a ratio of drugs that will deliver a synergistic benefit, locks the desired ratio in a drug delivery vehicle and maintains the ratio in patients with the goal of improving clinical outcomes. The company pipeline includes: CPX-1 (a liposomal formulation of irinotecan:floxuridine), currently in a Phase 2 trial in patients with colorect
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