Nventa Provides Corporate Update and Advancement Plans for HspE7, Hsp 6/11 and Poly-ICR



    
    Company Announces Corporate Restructuring to Focus on Strategic Alliances
    and M&A

    
    SAN DIEGO, Oct. 8 /CNW/ -- Nventa Biopharmaceuticals Corporation (TSX:
NVN), a company developing innovative therapeutics for the treatment of viral
infections and cancer, today provided an update on its ongoing development
programs. The company also announced that it will initiate a corporate
restructuring that will extend the company's financial resources to pursue
near-term corporate development opportunities, sale of specific programs, M&A
and alternative financial arrangements to maximize the value of its assets.
    
    (Logo:  http://www.newscom.com/cgi-bin/prnh/20080303/LAM023LOGO)
    
    "We are committed to the continued advancement of HspE7, Hsp 6/11 and
Poly-ICR, and as such, we are making difficult yet necessary decisions today
to ensure these products have every opportunity to succeed," said Gregory M.
McKee, president and chief executive officer at Nventa.  "As part of our
commitment to the continued advancement of HspE7, Hsp 6/11 and Poly-ICR, we
are aggressively seeking strategic alliances, including merger and acquisition
opportunities, which will allow us to realize the greatest value for each of
these important programs."
    HspE7: Lead Product Candidate for the Treatment of Cervical
Intraepithelial Neoplasia (CIN)
    A recently completed Phase 1 clinical trial of HspE7, a novel therapeutic
candidate intended for the treatment of precancerous and cancerous lesions
caused by the human papillomavirus (HPV), demonstrated an excellent safety
profile, while providing compelling data to support HspE7's immunologic
activity.  Based on the positive Phase 1 trial results, the next planned
initiatives include Phase 2 clinical studies that will evaluate HspE7 as a
potential treatment for both low-grade cervical dysplasia (CIN 1) and
high-grade cervical dysplasia (CIN 2/3).  The planned Phase 2 trials consist
of multi-center, randomized, double-blind, placebo-controlled studies in the
U.S., Canada, Europe and Latin America.  For the CIN 2/3 study, protocol
development, discussions with the U.S. Food and Drug Administration and site
evaluations have been completed.  A second protocol for the CIN 1 indication
is near completion.  Partnering or adequate financing are required for the
trials to be initiated.
    
    Poly-ICR -- Proprietary Toll-like Receptor 3 Agonist
    
    The company's proprietary Toll-like Receptor 3 agonist, Poly-IC:
Poly-Arginine (Poly-ICR), may have use as a broad immune stimulatory agent, as
well as a vaccine adjuvant for both therapeutic and prophylactic vaccines.
Nventa is currently advancing Poly-ICR as a means for revenue generation
through partnering, as well as for its own internal development.
    --  Partnering Poly-ICR -- Nventa is currently providing Poly-ICR through
Material Transfer Agreements to leading vaccine developers in the U.S. and
abroad who are evaluating Poly-ICR for potential incorporation into a wide
range of vaccine products.  Based on early interest in Poly-ICR, the company
anticipates that it may provide Nventa with a near-term revenue opportunity.
    --  Internal Application of Poly-ICR -- Nventa is pursuing the
development of Poly-ICR for topical application for the treatment of genital
warts (GW) and actinic keratosis, a premalignant condition of the skin.  Next
development activities include completing toxicology and formulation
activities for Poly-ICR and filing an investigational new drug (IND)
application for the compound.  Partnering or adequate financing are required
for this work to be continued.
    
    Hsp 6/11 -- Preclinical Product Candidate for the Treatment of GW and RRP
    
    The company has nominated Hsp 6/11 as a development candidate targeting
the treatment of GW and recurrent respiratory papillomatosis (RRP), a disease
in which benign tumors grow on the larynx, vocal cords and trachea.  Combined,
GW and RRP affect more than 2.5 million people worldwide and represent an
estimated global market potential of more than $1 billion.  There are
currently no approved cures for either condition.  Early preclinical data
suggest that Hsp 6/11 has the ability to elicit strong T-cell responses
against HPV types 6 and 11 target antigens.  Next steps for Hsp 6/11 include
finalizing manufacturing and formulation protocols and filing an IND.
Partnering or adequate financing are required for these efforts to continue.
    
    Corporate Restructuring and Focus on Corporate Development Efforts
    
    With the support of a unanimous decision by Nventa's board of directors,
the company will undertake a corporate restructuring designed to extend the
company's financial resources and increase the focus on corporate development
efforts surrounding the company's core assets.  Key elements of the
restructuring include:

    
    --  A sixty percent reduction of staff from 13 to 5.  As part of this
        reduction, Richard B. Lai Fatt, Ph.D., vice president of corporate
        development and David Duncan, Jr., vice president of finance, will be
        leaving the company.  Peter Emtage, Ph.D. will remain as vice
        president of research and development.  Concurrent with the
        restructuring, board members, Jay M. Short, Ph.D., Joann Data, M.D.,
        Ph.D., Gordon Busenbark, and Sandford D. Smith, as well as all members
        of the scientific advisory board, will be stepping down.  Robert
        Rieder will become chairman of the board and John Varian will continue
        as the audit committee chair.
    --  A reduction of annualized cash burn of approximately 30 percent.
    --  An increased focus of corporate resources toward monetizing the
        company's core assets.  As part of this, the company will expand its
        corporate development efforts for the purpose of identifying
        synergistic merger and acquisition opportunities to strengthen its
        pipeline and/or financial position.
    --  Cash and cash equivalents as of October 1, 2008 were approximately
        $5.9 million, which after accounting for the company's liabilities and
        other commitments, results in approximately $2.5 million.  This cash
        is sufficient to support operations until second quarter 2009.
    About Nventa Corporation:
    
    Nventa is developing innovative therapeutics for the treatment of viral
infections and cancer, with a focus on diseases caused by HPV.  The company is
publicly traded on the Toronto Stock Exchange under the symbol "NVN".  For
more information about Nventa, please visit http://www.nventacorp.com.
    This press release contains statements which may constitute
forward-looking information under applicable Canadian securities legislation
or forward-looking statements within the meaning of the United States Private
Securities Litigation Reform Act of 1995.  Such forward-looking statements or
information may include statements regarding the company's future plans,
objectives, performance, growth or the company's underlying assumptions.  The
words "may", "would", "will", "expect," "intend", "plan",  "estimate" and
"believe" or other similar words and phrases may identify forward-looking
statements or information.  Persons reading this press release are cautioned
that such statements or information are only expectations, and that the
company's actual future results or performance may be materially different.
    Forward-looking statements or information in this press release include,
but are not limited to, statements or information concerning: our planned
corporate restructuring and the affect it will have on our financial
resources; plans to seek strategic alliances and our subsequent ability to
realize the greatest value for our programs; our planned Phase 2 clinical
studies and the ability of those studies to successfully evaluate HspE7 as a
potential treatment for CIN 1 and CIN 2/3; the structure and location of our
planned Phase 2 trials; completion of the second protocol for CIN 1; potential
uses for Poly-ICR; our ability to advance Poly-ICR resulting in revenue
generation and internal development; the ability of Poly-ICR to provide us
with near-term revenue opportunity; the development of Poly-ICR for treatment
of GW and actinic keratosis; completion of development activities and the
filing of an IND application in connection with Poly-ICR; finalizing
manufacturing and formulation protocols and filing an IND in connection with
Hsp 6/11; execution of our corporate restructuring as planned; our ability to
retain key personnel; and our plan to expand corporate development efforts and
the potential results of such efforts.
    Such forward-looking statements or information involve known and unknown
risks, uncertainties and other factors that may cause our actual results,
events or developments to be materially different from results, events or
developments expressed or implied by such forward-looking statements or
information. Such factors include, among others, the possibility that our
planned corporate restructuring will not have the anticipated affect; that we
will not succeed in forming strategic alliances and, if we do, the possibility
that such alliances will not allow us to realize the greatest value for our
programs; that we will not commence Phase 2 clinical studies as planned and,
if we do, that such studies will not support the use of HspE7 as a treatment
for CIN 1 or CIN 2/3; that we will not complete the second protocol for the
CIN 1 indication; that Poly-IRC will not be useful as a broad immune
stimulatory agent or vaccine adjuvant; that we will not be able to advance
Poly-ICR to generate revenue or for internal development; that Poly-ICR will
not provide us with near-term revenue opportunity; that Poly-ICR will not be
useful in the treatment of GW or actinic keratosis; that we will not complete
development activities or file an IND application in connection with Poly-ICR;
that we will not finalize manufacturing or formulation protocols or file an
IND in connection with Hsp 6/11; that we will be unable to execute our
corporate restructuring as planned; that we will be unable to expand corporate
development efforts as planned and that such efforts will not produce the
desired results; that results from future clinical trials will not be
consistent with our expectations; that we will not be able to recruit patients
for our planned trials in a timely manner; our need for capital, which may not
be available on a timely basis, or at all; risks associated with requirements
for approvals by government agencies such as the FDA before products can be
tested in clinical trials; the possibility that such government agency
approvals will not be obtained in a timely manner or at all or will be
conditioned in a manner that would impair our ability to advance development;
risks associated with the requirement that a drug candidate be found safe and
effective after extensive clinical trials; our dependence on suppliers,
collaborative partners and other third parties and the prospects and timing
for obtaining clinical supply materials; our ability to attract and retain key
personnel; and other factors as described in detail in our filings with the
Canadian securities regulatory authorities at http://www.sedar.com.
    Assumptions underlying our expectations regarding forward-looking
statements or information contained in this press release include, among
others that our planned corporate restructuring will have the anticipated
affect; that we will succeed in forming strategic alliances and that such
alliances will allow us to realize the greatest value for our programs; that
we will commence Phase 2 clinical studies as planned and that such studies
will support the use of HspE7 as a treatment for CIN 1 and CIN 2/3; that we
will complete the second protocol for the CIN 1 indication; that Poly-IRC will
be useful as a broad immune stimulatory agent and vaccine adjuvant; that we
will be able to advance Poly-ICR to generate revenue and for internal
development; that Poly-ICR will provide us with near-term revenue opportunity;
that Poly-ICR will be useful in the treatment of GW and actinic keratosis;
that we will complete development activities and file an IND application in
connection with Poly-ICR; that we will finalize manufacturing and formulation
protocols and file an IND in connection with Hsp 6/11; that we will be able to
execute our corporate restructuring as planned; that we will be able to expand
corporate development efforts as planned and that such efforts will produce
the desired results; that results from future clinical trials will be
consistent with our expectations; that we will raise enough capital (through
partnering or otherwise), on reasonable terms and in a timely manner; that we
will retain our key personnel; that we will obtain the necessary regulatory
approvals related to HspE7, Hsp 6/11 and Poly-ICR in a timely manner; that
sufficient HspE7, Hsp 6/11 and Poly-ICR will be available to conduct our
planned clinical trials; that we will obtain timely approval from additional
Investigational Review Boards; that the results from additional preclinical
and clinical work, if any, will be consistent with the results we have already
obtained; and that a sufficient number of patients will be available to
conduct our planned trials, and that sufficient data will be generated in such
trials.
    In the event that any of these assumptions prove to be incorrect, or in
the event that we are impacted by any of the risks identified above, we may
not be able to continue in our business as planned.
    For a complete discussion of the assumptions, risks and uncertainties
related to our business, you are encouraged to review our filings with
Canadian securities regulatory authorities, including our 2007 Annual
Information Form filed on SEDAR at http://www.sedar.com.
    All forward-looking statements and information made herein are based on
our current expectations as of the date hereof and we disclaim any intention
or obligation to revise or update such forward-looking statements and
information to reflect subsequent events or circumstances, except as required
by law.




For further information:

For further information: Donna Slade, Director, Investor Relations of
Nventa Corporation, +1-858-202-4945, dslade@nventacorp.com; or media, Tim
Brons of Vida Communication, +1-415-675-7400, tbrons@vidacommunication.com; or
Michael Moore of The Equicom Group, +1-416-815-0700, ext. 241,
mmoore@equicomgroup.com, both for Nventa Corporation Web Site:
http://www.nventacorp.com

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NVENTA BIOPHARMACEUTICALS CORPORATION

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