-Successful Collaboration with Scripps Florida and Scripps Research in La
SOUTH SAN FRANCISCO, Calif., and LA JOLLA, Calif., May 14 /PRNewswire- FirstCall/ -- Poniard Pharmaceuticals, Inc. (Nasdaq: PARD), a biopharmaceutical company focused on oncology, and The Scripps Research Institute, a non-profit biomedical research organization, today announced that an agreement has been executed licensing classes of protein kinase inhibitors for the treatment of human diseases, including cancer. The research collaboration was initiated in 2005 at Scripps Florida, a division of the Institute located in Palm Beach County, and later broadened to include The Scripps Research Institute, La Jolla, California. The license includes compounds that were discovered by Scripps Research in collaboration with Poniard.
"We are pleased with the productive collaboration with Scripps Research, and we are continuing to build on the progress of this collaboration to identify compounds that have significant potential to treat cancer and other diseases," said Jerry McMahon, Ph.D., chairman and CEO of Poniard. "We are on target with our program at Poniard to identify a kinase drug candidate that has the potential to be combined with our lead product picoplatin, which is currently in a Phase 3 registration study for small cell lung cancer."
Kinases regulate signaling networks and thereby control cellular properties such as proliferation, invasion, survival and differentiation. Mutations or altered expression of kinases can lead to malignant properties. In oncology, kinase inhibitors have been shown to impact the growth, survival and spread of tumor cells.
"This successful collaboration is consistent with our vision for Scripps Florida, accelerating the pace of discoveries from the laboratory to the treatment of patients," said Richard A. Lerner, M.D., president of The Scripps Research Institute. "We look forward to continued progress for this program at Poniard."
About The Scripps Research Institute
The Scripps Research Institute is one of the world's largest independent, non-profit biomedical research organizations, at the forefront of basic biomedical science that seeks to comprehend the most fundamental processes of life. Scripps Research is internationally recognized for its discoveries in immunology, molecular and cellular biology, chemistry, neurosciences, autoimmune, cardiovascular, and infectious diseases, and synthetic vaccine development. Established in its current configuration in 1961, it employs approximately 3,000 scientists, postdoctoral fellows, scientific and other technicians, doctoral degree graduate students, and administrative and technical support personnel. Scripps Research is headquartered in La Jolla, California. It also includes Scripps Florida, whose researchers focus on basic biomedical science, drug discovery, and technology development. Currently operating from temporary facilities in Jupiter, Scripps Florida will move to its permanent campus in 2009.
About Poniard Pharmaceuticals
Poniard Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of innovative oncology products to impact the lives of people with cancer. Picoplatin, the Company's lead platform product candidate, is a new generation platinum therapy with an improved safety profile relative to existing platinum-based cancer therapies. Picoplatin is designed to overcome platinum resistance associated with chemotherapy in solid tumors, and is being studied in multiple cancer indications, combinations and formulations. Clinical trials of intravenous picoplatin include a Phase 3 trial in small cell lung cancer and Phase 2 trials in metastatic colorectal and hormone-refractory prostate cancers, as well as a clinical trial of oral picoplatin in solid tumors. Picoplatin has not been approved by any regulatory authority for use in humans. For additional information please visit http://www.poniard.com.
This release contains forward-looking statements, including statements regarding Poniard's (the "Company's") business objectives and strategic goals, drug development plans, results of clinical trials and the potential safety and efficacy of its products in development. The Company's actual results may differ materially from those indicated in these forward-looking statements based on a number of factors, including risks and uncertainties associated with the Company's research and development activities; the results of pre- clinical and clinical testing; the receipt and timing of required regulatory approvals; the market's acceptance of the Company's proposed products; the Company's anticipated operating losses, need for future capital and ability to obtain future funding; competition from third parties; the Company's ability to preserve and protect intellectual property rights; the Company's dependence on third-party manufacturers and suppliers; the Company's lack of sales and marketing experience; the Company's ability to attract and retain key personnel; changes in technology, government regulation and general market conditions; and the risks and uncertainties described in the Company's current and periodic reports filed with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K for the year ended December 31, 2007 and the Company's Quarterly Report for the period ended March 31, 2008. Readers are cautioned not to place undue reliance on these forward- looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update any forward-looking statement to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
(C) 2008 Poniard Pharmaceuticals, Inc. All Rights Reserved.
Poniard and Poniard Pharmaceuticals are trademarks of Poniard Pharmaceuticals, Inc.
The Scripps Research Institute, Scripps Research and Scripps Florida are trademarks of The Scripps Research Institute.
|SOURCE Poniard Pharmaceuticals, Inc.|
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