LifeSci Advisors Announces Investment Opinion on Adherex Technologies

LifeSci Advisors Announces Investment Opinion on Adherex Technologies 
Phase II Results in Metastatic Breast Cancer Expected in Mid-2013;
Report Cites Eniluracil Market Potential of $310 to $465 Million per
Year; Available for Download at 
NEW YORK, NY -- (Marketwire) -- 03/01/13 --   LifeSci Advisors, LLC,
a leading provider of investment research and investor relations
services in the life sciences sector, today announced that it has
initiated coverage of Adherex Technologies Inc. (TSX: AHX) (OTCQB:
ADHXF), a clinical-stage biotechnology company focused on the
development of eniluracil (EU) in combination with 5-fluorouracil
(5-FU) and leucovorin (LV) to treat metastatic breast cancer. The
drug is being compared to Xeloda(R) in a Phase II trial that
completed enrollment at the end of 2012, with data expected in
mid-2013. Preliminary results demonstrate that patients who had rapid
disease progression on Xeloda and then crossed over to take
EU/5-FU/LV experienced 89% clinical benefit and 33% tumor response. A
small clinical trial with these patients may be an attractive path
for rapid entry into the market. 
"Adherex's eniluracil development program has the potential to
provide reliable oral administration of the important
chemotherapeutic 5-fluorouracil for patients with metastatic breast
cancer, with an improved side-effect profile," said Andrew I.
McDonald, Ph.D., Founding Partner at LifeSci Advisors. "Further,
eniluracil could potentially allow patients who rapidly fail Xeloda
to continue with another oral 5-FU therapy rather than switching to
the less well-tolerated microtubule-interfering agents." 
Adherex's lead compound, eniluracil (EU), enhances the
chemotherapeutic drug 5-fluorouracil (5-FU). Adherex is developing EU
in combination with 5-FU and leucovorin (LV) to treat metastatic
breast cancer (MBC). In April 2011, Adherex began a Phase II trial
(AHX-03-202) comparing the efficacy and safety of EU/5-FU/LV versus
Xeloda (capecitabine) in MBC patients. The trial randomized patients
(4:3) to receive EU/5-FU/LV (Arm 1) or Xeloda (Arm 2), where patients
on Xeloda (Arm 2) with disease progression have the option to switch
over and take EU/5-FU/LV (Arm X). The primary endpoint is progression
free survival (PF
S). The goal of the trial is to compare the efficacy
and safety of EU/5-FU/LV versus Xeloda. Enrollment of the Phase II
trial is complete and data is expected in mid-2013.  
Adherex is also developing Sodium Thiosulfate (STS), a
chemoprotectant against hearing loss associated with platinum-based
chemotherapy. Adherex partners, the Children's Oncology Group (COG)
and the International Childhood Liver Tumor Strategy Group (SIOPEL)
are each conducting a Phase III trial comparing cisplatin with the
combination of cisplatin plus STS in children with cancer. The
primary endpoint is hearing loss. The fully-enrolled, COG-sponsored
trial was designed to enroll 135 pediatric patients worldwide in five
different disease indications. Enrollment for the COG-sponsored trial
is complete and data are expected in 2013. The SIOPEL sponsored trial
will enroll 100 pediatric patients with liver cancer worldwide, of
which 62 patients were enrolled as of November 10, 2012. 
In a 43 page Initiation Report by LifeSci Advisors, we explain the
potential advantages of EU/5-FU/LV when compared to Xeloda, the
market opportunity for eniluracil, and the treatment paradigm and
competitive landscape for metastatic breast cancer treatment. The
report also includes an explanation of the mechanism of action and a
detailed background of the clinical development program for
Dr. McDonald's full Initiation Report is available to download at no
cost at the LifeSci Advisors website, In
addition to this Initiation Report, LifeSci Advisors will also
provide ongoing coverage and event-based research updates on the
Company as developments occur. 
The LifeSci Advisors research team is led by Dr. Andrew I. McDonald,
an industry veteran with more than 15 years of healthcare industry
experience. Prior to co-founding LSA, Dr. McDonald was the Senior
Biotechnology Analyst at Great Point Partners, a leading health care
investment firm with over $500 million under management. Before Great
Point, he was Co-Head of Healthcare Research and Lead Biotechnology
Analyst at ThinkEquity Partners, a boutique investment banking firm
focused on growth companies. Dr. McDonald holds a Ph.D. in organic
chemistry from the University of California, Irvine, and, earlier in
his career, worked as a medicinal chemist at both Pfizer and
About LifeSci Advisors: 
LifeSci Advisors (LSA) is a leading research firm and communications
consultancy dedicated to the life sciences industry. The firm
provides strategic counsel, customized marketing communications,
comprehensive research reports and investor relations services to
companies that specialize in the discovery, development and
commercialization of drugs, drug delivery systems, medical devices
and diagnostics. To learn more about LSA, visit the company's
Important Disclosures: 
The research report described in this press release is not intended
as an offering, recommendation, or a solicitation of an offer to buy
or sell securities. The securities discussed in LSA research reports
may be unsuitable for some investors depending on their specific
investment objectives, financial status, risk profile, or particular
needs. Investors should consider LSA reports as only a single factor
in making their investment decisions and should not rely solely on
these reports in evaluating whether or not to buy or sell the
securities of the subject company. LifeSci Advisors has been
compensated by the company that is the subject of the report
described and future research reports, investor relations services,
and general consulting services. Please read each report's full
disclosures and analyst background on the LSA website,, before investing. LifeSci Advisors is not a
registered investment adviser or broker-dealer.  
Forward-looking statements:  
This press release contains forward-looking statements subject to
risks and uncertainties that could cause actual results to differ
materially from those projected. These forward-looking statements
represent LSA's judgment as of the date of this release. LifeSci
Advisors disclaims, however, any intent or obligation to update these
forward-looking statements. 
Media Contact:
Michael Rice
Phone: (646) 597-6979
Adherex Contact:
Rosty Raykov
Chief Executive Officer
Phone: (919) 636-5144
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