VANCOUVER, March 1 /CNW/ - Protox Therapeutics Inc. announced today the
company's key milestones for the coming year that will help position the
company as a leader in targeted therapeutics for cancer and other
proliferative diseases. They include the completion of a Phase I study in
prostate cancer, the initiation of a Phase I study in benign prostatic
hyperplasia and the initiation of a Phase IIb study in brain cancer.
"This year has started strongly for us with the announcement in January
of encouraging interim results from our ongoing prostate cancer trial and we
are committed to building on this momentum going forward in 2007," said
Dr. Fahar Merchant, President and CEO. "With four clinical programs underway
by year's end, we look forward to expanding upon the strategic foundation that
we have built over the past 24 months."
The goals that Protox has established for 2007 include:
- Completion of the Phase I clinical trial of PRX302 for recurrent and
localized prostate cancer;
- Initiation of a Phase II clinical trial of PRX302 for the treatment
of localized prostate cancer;
- Initiation of a Phase I clinical trial of PRX302 for the treatment of
benign prostatic hyperplasia;
- Completion of patient enrolment for a Phase I clinical trial of
PRX302 for the treatment of benign prostatic hyperplasia;
- Initiation of a Phase IIb clinical trial of PRX321 for the treatment
of brain cancer;
- Initiating at least one investigator-sponsored Phase I/II clinical
trial of PRX321; and,
- Advancing the Company's discovery program by developing humanized
versions of targeted protein therapeutics.
The Company said it intends to build on successes from 2006, the
highlights of which include FDA approval and initiation of a Phase I clinical
trial of PRX302 for localized prostate cancer, acquisition and in-licensing of
PRX321 from Neurocrine Biosciences and the US Public Health Service,
regulatory approval to commence a Phase I BPH trial of PRX302 for benign
prostatic hyperplasia and completion of a $10 million private placement.
In addition to the key milestones listed above for 2007, the Company will
look to complete additional objectives throughout the year.
"We expect there will be multiple opportunities to present clinical data
at key conferences in 2007," added Dr. Merchant, "as well as create
partnerships with organizations that can help us further our clinical
Protox Therapeutics is a leader in advancing novel, targeted protein
toxin therapeutics for treatment of cancer and other proliferative diseases.
The company is actively developing two distinct but complementary platforms,
INxin(TM) and PORxin, and currently has three clinical programs in
development. A Phase IIa clinical trial into the use of PRX321 (INxin) for the
treatment of primary brain cancer has been completed and the drug has received
Fast Track Designation and Orphan Drug Status from the US FDA. In addition, a
Phase I trial has been completed for PRX321 to treat patients with renal cell
carcinoma and non-small cell lung cancer. Patient enrolment is underway for a
Phase I clinical study into the use of PRX302 (PORxin) to treat localized
prostate cancer. PRX302 has also been approved by Health Canada to commence a
Phase I clinical study for the treatment of benign prostatic hyperplasia.
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RELEASE. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
Certain statements included in this press release may be considered
forward-looking. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results, performance or
achievements to be materially different from those implied by such statements,
and therefore these statements should not be read as guarantees of future
performance or results. All forward-looking statements are based on Protox'
current beliefs as well as assumptions made by and information currently
available to Protox and relate to, among other things, anticipated financial
performance, business prospects, strategies, regulatory developments, market
acceptance and future commitments. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
of this press release. Due to risks and uncertainties, including the risks and
uncertainties identified by Protox in its public securities filings; actual
events may differ materially from current expectations. Protox disclaims any
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
For further information:
For further information: James Beesley, Director, Investor Relations,
Protox Therapeutics, (604) 688-0199, firstname.lastname@example.org; Michael
Moore, Investor Relations, Equicom Group, (416) 815-0700 x 241,