BALTIMORE, Oct. 27 /PRNewswire-FirstCall/ -- Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), an oncology drug development company with a predictive preclinical platform aimed at accelerating the development and enhancing the value of oncology drugs, has established an exclusive licensing agreement with Ramot at Tel Aviv University Ltd., Tel Aviv University's wholly owned technology transfer company. The licensing agreement encompasses the development and commercialization of TAR-1, a single-chain antibody fragment in preclinical development that may have an advantage in treating cancer patients because of its high specificity and affinity to binding mutant p53 protein.
Under the terms of the agreement, Champions has obtained the worldwide rights to TAR-1 and is responsible for the further development of the compound. Champions will utilize its Biomerk Tumorgraft(TM) platform technology to evaluate the activity of TAR-1 and determine the best path forward for the compound in regards to indication, patient population and potential drug combinations. Ramot will receive an upfront payment and will be eligible to receive milestone payments and royalties if Champions chooses to continue the license terms, which will be determined based on results from testing TAR-1 in the predictive Tumorgraft platform.
Prof. Beka Solomon from Tel Aviv University identified that TAR-1 binds to and restores the wild-type active conformation of mutant p53 protein with a high degree of specificity, leading to in vivo inhibition of tumor growth. Given the frequency of mutant p53 in cancer, TAR-1 has the potential to target a wide range of human cancers.
"Licensing TAR-1 demonstrates the progression of our strategy to build our own Tumorgraft-driven pipeline of oncology drugs, which we expect to yield improved clinical development success rates," said Guy Malchi, Champions Biotechnology's Head of Corporate Development and International Operations. "We were impressed by the potential of TAR-1 and we are planning to continue to in-license oncology drug candidates with compelling science and to develop only those with positive Tumorgraft results." TAR-1 will undergo Tumorgraft testing as Champions completes Tumorgraft testing of its other oncology drug, SG410, a tubulin inhibitor.
"We are excited to work with Champions Biotechnology. Their predictive platform and experienced scientific and clinical team make them an ideal candidate to move TAR-1 forward into the clinic and on the path to commercialization," said Dr. Ze'ev Weinfeld, CEO, Ramot at Tel Aviv University Ltd.
For more information regarding Champions Biotechnology's growing business and recent news, please visit www.championsbiotechnology.com.
About Champions Biotechnology, Inc.
Champions Biotechnology, Inc. is engaged in the development of advanced preclinical platforms and tumor specific data to enhance and accelerate the value of oncology drugs. The Company's Preclinical Platform is a novel approach based upon the implantation of primary human tumors in immune deficient mice followed by propagation of the resulting engraftments (Biomerk Tumorgrafts(TM)) in a manner that preserves the biological characteristics of the original human tumor. Early studies suggest that unlike traditional xenografts, these Tumorgrafts closely reflect human cancer biology and their response to drugs is predictive of clinical outcomes in cancer patients. Champions Biotechnology leverages its preclinical platform to evaluate drug candidates and to develop a portfolio of novel therapeutic candidates. As drugs progress through early stage development, the Company plans to sell, partner or license them to pharmaceutical and/or biotechnology companies, as appropriate. The Company also offers its predictive preclinical platform and tumor specific data to physicians for personalized patient care and to companies for evaluation of oncology drugs in models that integrate prognostic testing with biomarker discovery.
Ramot at Tel Aviv University Ltd.
Ramot at Tel Aviv University Ltd. is the technology transfer company of Tel Aviv University (TAU). Ramot fosters, initiates, leads and manages the transfer of new technologies from university laboratories to the marketplace by performing all activities relating to the protection and commercialization of inventions and discoveries made by faculty, students and other researchers. Ramot provides a dynamic interface connecting industry to leading edge science and innovation, offering new business opportunities in a wide variety of emerging markets. Founded in 1956, TAU is one of Israel's foremost research and teaching universities. Located in Israel's cultural, financial and industrial heartland, TAU is at the forefront of basic and applied research in a wide variety of scientific research disciplines.
This press release contains "forward-looking statements" (within the meaning of the Private Securities Litigation Act of 1995) that inherently involve risk and uncertainties. Champions Biotechnology generally uses words such as "believe," "may," "could," "will," "intend," "expect," "anticipate," "plan," and similar expressions to identify forward-looking statements. One should not place undue reliance on these forward-looking statements. The Company's actual results could differ materially from those anticipated in the forward-looking statements for many unforeseen factors. See Champions Biotechnology's Form 10-K for the fiscal year ended April 30, 2009 for a discussion of such risks, uncertainties and other factors. Although the Company believes the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and Champions Biotechnology's future results, levels of activity, performance or achievements may not meet these expectations. The Company does not intend to update any of the forward-looking statements after the date of this press release to conform these statements to actual results or to changes in Champions Biotechnology's expectations, except as required by law.
MEDIA CONTACTS: The Investor Relations Group James Carbonara +1-212-825-3210 Yamit Nissnaov, PR for Ramot Office: +972-9-9514666 Mobile: +972-52-5541810 Email: firstname.lastname@example.org
SOURCE Champions Biotechnology, Inc.
|SOURCE Champions Biotechnology, Inc.|
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