Kinex Pharmaceuticals Will Take the Lead in the Orascovery Program Development
BUFFALO, N.Y., July 9, 2013
BUFFALO, N.Y., July 9, 2013 /PRNewswire/ --Kinex Pharmaceuticals and Hanmi
Pharmaceutical Co., Ltd. are pleased to announce the execution of an agreement
for Kinex Pharmaceuticals to lead Orascovery program development in China.
This further strengthens the existing agreement forged in December of 2011.
Under the terms of the 2011 agreement, Kinex Pharmaceuticals acquired the
rights to develop and commercialize all products derived from the Orascovery
program for all indications in the United States, European Union, Eastern
Europe, Russia, South America, Australia, New Zealand, Taiwan, and Hong Kong.
The Orascovery program is based on important platform technology initially
developed by Hanmi Pharmaceutical, including compound HM30181A, which is a
highly potent and selective P-glycoprotein (PGP) pump inhibitor. Suppression
of the PGP pump in the gastrointestinal tract allows certain clinically
important compounds, (such as paclitaxel and irinotecan, among others) which
would normally be effluxed back into the gastrointestinal tract and excreted,
to enter the bloodstream and be bioavailable through oral administration.
Importantly, HM30181A is a very effective PGP inhibitor that is not
systemically absorbed. The current lead products include an oral formulation
of paclitaxel, which is in Phase II clinical trials in Korea, and an oral
formulation of irinotecan, which has just completed Phase I clinical trials in
Kinex Pharmaceuticals will assume all development responsibility in the
licensed territories. Kinex and Hanmi will also work together to ensure that
the product development in various geographic regions will complement each
other in overall strategic global product development.
Dr. Gwan Sun Lee, Chief Executive Officer of Hanmi Pharmaceutical stated:
"Kinex has been a great collaborative partner. Our joint development efforts
with Kinex continue to advance the products and research program, derived from
the Orascovery program, which will lead to opportunities to further expand our
end markets. We are delighted to further expand our alliance with Kinex, our
partner in the Orascovery program since December 2011. We have full confidence
in Kinex and this additional collaborative effort is our vote of confidence
with Kinex and its management team."
Dr. Jeewoong Son, Senior Vice-President and Head of Innovation R&D at Hanmi,
added: "We are impressed by the Kinex management team and the collaborative
effort on both KX01 and the Orascovery program, which have been very
successful. Our joint effort in developing a strategic global drug development
plan through partnerships has been rewarding. Adding China territory to Kinex
territory will further support this global development strategy. The taxanes
have demonstrated a strong synergistic effect with KX01, an orally
bioavailable dual src kinase/pretubulin inhibitor which Kinex and Hanmi are
also collaborating.This attribute may allow the development of an excellent
combination therapy to help patients in the future. Hanmi is fully committed
in our partnership with Kinex."
Dr. David Hangauer, Chief Scientific Officer of Kinex and a member of the
Joint Steering Committee for the Kinex/Hanmi Collaboration, said: "We are
pleased with the opportunity to further expand our collaboration with
Hanmi.As part of our ongoing partnership, Hanmi has advanced the KX01 program
to an IND application with the Korean FDA in late 2012 and began the
associated clinical studies in Korea starting in December 2012. Their support
has been very helpful to Kinex as we prepared our IND for Oraxol, an oral form
of paclitaxel, which has been submitted to the US FDA. The level of support
provided by Hanmi has been critical to advancing a number of our collaborative
programs and I am delighted to see that our partnership is expanding even
further. We have initiated a research effort in Hong Kong/China and this
expansion will complement our research efforts in a very positive way."
"We continue to be impressed by Hanmi's strong commitment to research and
development and their business growth strategy. Our global drug development
strategy through partnerships is advancing nicely. We have recently also
established a partnership to develop Oraxol (oral paclitaxel) and Oratecan
(oral form of irinotecan) with Dr. Cheung-Tak Hung of Zenith Technology
Corporation, a very successful Clinical Contract Research Organization, for
the New Zealand and Australia territory as part of our global development
effort. The addition of China will further foster our global drug development
strategy. We look forward to continue our very successful collaboration with
Hanmi in developing our expanding pipeline of oral anti-cancer drugs," said
Dr. Rudolf Kwan, Chief Medical Officer of Kinex Pharmaceuticals.
Founded in 2004, Kinex is led by a strong, experiencedManagement
TeamandBoard of Directorswith a track record of achieving value-creating
milestones and cumulative experience of over 250 years in both the
pharmaceutical and biotechnology industries. This includes the filing of more
than 11 NDAs and 20 INDs with the Food and Drug Administration and the
development of more than 10 marketed products, including a number of
blockbusters. Kinex has utilized the proprietary platform technologies
Mimetica™, Opal™, and Orascovery™ to discover new compounds and to build
apipeline of drug candidateswith unique mechanisms that address unmet
medical needs with large market potential. With offices in both Buffalo, NY
and Hong Kong, Kinex has numerous existing partnerships in Asia and New
Zealand, as well as investors throughout the United States and Asia.
For Kinex Inquiries Please contact:
Mr. Patrick Gallagher
701 Ellicott Street
Buffalo, NY 14203
SOURCE Kinex Pharmaceuticals
Press spacebar to pause and continue. Press esc to stop.