Establish Target-Based Drug Discovery Collaboration in Oncology
NEW YORK and SAN DIEGO--(BW HealthWire)--Oct. 13, 1997--
ImClone Systems Incorporated (Nasdaq:IMCL) and CombiChem, Inc.
announced today a collaboration to discover and develop novel small
molecules against selected targets for the treatment of cancer. In
this joint effort, CombiChem will utilize its proprietary Discovery
Engine(TM) to generate lead candidates, which ImClone will test
against its biological assays to determine activity against key
receptors and signaling molecules associated with cancer.
ImClone will provide CombiChem with research funding for two
years, milestone payments and royalties on marketed products.
Additionally, ImClone has made an equity investment in CombiChem.
ImClone will have exclusive worldwide rights to develop and market
products resulting from the collaboration.
"It is our belief that CombiChem's lead generation capabilities
can expedite the identification of compounds with promising
biological activity, as compared to traditional methodologies,"
commented Samuel D. Waksal, Ph.D., President and Chief Executive
Officer of ImClone Systems. "These capabilities, coupled with
ImClone's advanced expertise in critical signaling pathways in
cancer, should accelerate our efforts to identify important new
compounds for commercial development."
In the collaboration, the companies will utilize CombiChem's
Discovery Engine(TM) and proprietary Universal Informer Library(TM)
to generate small molecules for screening in ImClone's assays for
identification of lead candidates. "We are pleased to bring together
our computational drug discovery process with ImClone's expertise in
oncology," stated Vicente Anido, Jr., Ph.D., CombiChem's President
and Chief Executive Officer.
CombiChem, Inc. is a computational drug discovery company that
is applying its proprietary design technology and rapid synthesis
capabilities to accelerate the discovery process. Using its
Discovery Engine(TM), a convergent, iterative process for drug
discovery, the Company focuses on the generation, evolution and
optimization of potential new lead candidates for its collaborative
partners. CombiChem's Universal Informer Library(TM) consists of a
computer-designed, proprietary collection of approximately 10,000
physical compounds selected to provide information about targets
where little or no prior information is available. In addition to
this collaboration with ImClone Systems, CombiChem has established
collaborative partnerships with Teijin, Limited of Japan, Roche
Bioscience and Sumitomo Pharmaceuticals Co., Ltd. CombiChem, Inc.
is a privately held company based in San Diego, CA.
ImClone Systems has two oncology products in late-stage clinical
development and is advancing earlier drug candidates to the clinical
stage. The Company is currently evaluating C225, an epidermal growth
factor receptor (EGFr) antagonist, in head and neck cancer patients
in three Phase Ib/IIa dose-escalation trials in combination with
other anti-cancer therapies. ImClone expects to initiate Phase
II/III studies to evaluate the potential of C225 in various tumor
types. In addition, ImClone intends to initiate a Phase III
multinational trial in small cell lung cancer patients with the
Company's anti-cancer vaccine, BEC2, in the fourth quarter of this
year. In preclinical research, the Company is evaluating the
therapeutic potential of its anti-FLK-1/KDR monoclonal antibody as an
anti-angiogenic agent, especially against tumors known to secrete
vascular endothelial growth factor.
ImClone Systems Incorporated, headquartered in New York, is a
biopharmaceutical company developing novel therapeutic products
including interventional therapeutics, cancer vaccines and blood cell
growth factors for the treatment of cancer and cancer-related
Except for the historical information contained herein, the
matters discussed in this news release may include forward-looking
statements. Actual results may differ materially from those
predicted in such forward-looking statements due to the risks and
uncertainties inherent in the Companies' businesses, including,
without limitation, risks and uncertainties in obtaining and
maintaining regulatory approval, market acceptance of and continuing
demand for the Companies' products, the impact of competitive
products and pricing, and the Companies' ability to obtain additional
financing to support their operations. The Companies undertake no
obligation to revise or update this press release to reflect events
or circumstances thereof.
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