Progenics Pharmaceuticals Presents PSMA-Related Data at SNMMI 2013

Progenics Pharmaceuticals Presents PSMA-Related Data at SNMMI 2013

Findings Support Potential Role of Prostate Specific Membrane Antigen in
Targeted Imaging and Therapy

TARRYTOWN, N.Y., June 10, 2013 (GLOBE NEWSWIRE) -- Progenics Pharmaceuticals,
Inc. (Nasdaq:PGNX) today announced that it has reported findings from studies
of two of its oncology product candidates at the 2013 Annual Meeting of the
Society of Nuclear Medicine and Molecular Imaging (SNMMI) in Vancouver,
Canada.

Data from studies of MIP-1095, a PSMA targeting small molecule
radiotherapeutic, and ^99mTc-MIP-1404, a PSMA targeted imaging agent, are
featured in oral presentations. Both product candidates are recent additions
to Progenics' expanded oncology pipeline following the company's acquisition
of Molecular Insight Pharmaceuticals, Inc. Abstracts for these presentations
are available on the Events section of Progenics' website:

  Oral Presentation #119: Enhancement of prostate-targeted radiotherapy using
  [131I] MIP-1095 in combination with radiosensitizing chemotherapeutic drugs

  Oral Presentation #281: PSMA targeted SPECT imaging biomarker to detect
  local and metastatic prostate cancer (PCa): Phase I studies with
  99mTc-MIP-1404

Robert J. Israel, M.D., senior vice president of medical affairs and clinical
research for Progenics, commented, "Ongoing studies of product candidates
targeted to PSMA, an enzyme expressed on the neovasculature of almost all
prostate cancer cells, potentially could lead to the development of highly
specific prostate cancer imaging and treatment options. We are developing
candidates that could improve outcomes for cancer patients, including the two
candidates featured here at SNMMI in oral presentations as well as our phase
2-stage PSMA antibody-drug conjugate."

Additionally, Progenics is presenting details of its oncology pipeline at
exhibit booth #142 at the Meeting.

About MIP-1095, a PSMA targeting small molecule radiotherapeutic

MIP-1095 is in preclinical development for the treatment of metastatic
prostate cancer. The compound is radiolabeled with the therapeutic
radionuclide, iodine-131, a beta-particle-emitting radionuclide capable of
destroying tumor cells. The anticancer effect of 1095 relies on its ability to
deliver lethal doses of radiation to prostate cancer cells while causing
minimal damage to healthy surrounding tissue.

About ^99mTc-MIP-1404, a PSMA targeted imaging compound

^99mTc-MIP-1404 is a development stage radiopharmaceutical imaging agent that
is designed to facilitate the visualization of subtle changes in biochemical
and biological processes associated with disease progression. The expression
of distinct proteins by diseased cells offers the opportunity to "visualize
cancer", potentially allowing for improved detection and staging, more precise
biopsies, and a targeted treatment plan including active surveillance as a
disease management tool. ^99mTc-MIP-1404 is now in a phase 2 international
multicenter study.

About Prostate Cancer

Prostate cancer is the second most common form of cancer affecting men in the
United States: an estimated one in six will be diagnosed with prostate cancer
in his lifetime. The American Cancer Society estimates that approximately
240,000 new cases of prostate cancer will be diagnosed and about 30,000 men
will die of the disease this year. Approximately 2 million men in the U.S.
currently count themselves among prostate cancer survivors.

About Progenics

Progenics Pharmaceuticals, Inc. is discovering and developing innovative
medicines for oncology, with a pipeline that includes product candidates in
preclinical through late-stage development. Its first commercial product,
Relistor^® (methylnaltrexone bromide) for opioid-induced constipation, is
marketed and in further development by Salix Pharmaceuticals, Ltd. for markets
worldwide other than Japan, where Ono Pharmaceutical Co., Ltd. is developing
the subcutaneous formulation. For additional information, please visit
www.progenics.com.

This press release may contain projections and other forward-looking
statements regarding future events. Such statements are predictions only, and
are subject to risks and uncertainties that could cause actual events or
results to differ materially. These risks and uncertainties include, among
others, the cost, timing and results of clinical trials and other development
activities; the unpredictability of the duration and results of regulatory
review of New Drug Applications and Investigational NDAs; market acceptance
for approved products; generic and other competition; the possible impairment
of, inability to obtain and costs of obtaining intellectual property rights;
and possible safety or efficacy concerns, general business, financial and
accounting matters, litigation and other risks. More information concerning
Progenics and such risks and uncertainties is available on its website, and in
its press releases and reports it files with the U.S. Securities and Exchange
Commission. Progenics is providing the information in this press release as of
its date and does not undertake any obligation to update or revise it, whether
as a result of new information, future events or circumstances or otherwise.

Additional information concerning Progenics and its business may be available
in press releases or other public announcements and public filings made after
this release.

(PGNX-C)

CONTACT: Kathleen Fredriksen
         Corporate Development
         (914) 789-2871
         kfredriksen@progenics.com

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