Algeta awarded grant to develop new tumor-targeted alpha-pharmaceuticals based on Thorium
(Thomson Reuters ONE) -
Oslo, Norway, 22 June 2011 - Algeta ASA (OSE: ALGETA), a company focused on the
development of novel targeted cancer therapeutics, is pleased to announce that
it has been awarded a NOK 10.5 million (USD 1.9 million) grant from the Research
Council of Norway to develop Targeted Thorium Conjugates (TTCs), novel tumor-
targeted alpha-pharmaceuticals based on thorium-227.
Thomas Ramdahl, Executive Vice President and Chief Technology Officer,
commented: "In our early preclinical feasibility studies, thorium-227 has shown
great promise as an effective therapeutic payload. We will use this grant to
build on this research to support the development of Targeted Thorium Conjugates
(TTCs), which may provide us with a new way to generate improved anticancer
agents."
The grant has been awarded through the BIA program that funds research-based
innovation projects independent of the industry from which they come. This broad
program supports high-quality R&D projects which could deliver good business and
socio-economic benefits. The grant is subject to final negotiations with the
Council.
About the Thorium platform
Thorium-227, the basis for Algeta's second alpha-pharmaceutical technology, is
an element (radionuclide) that emits high-energy alpha particles. Such elements
are of considerable interest in the treatment of cancer as they are potent at
killing tumor cells and have a highly localized effect as a result of the very
short range of the alpha particle (2-10 cell diameters).
Several current top-selling cancer drugs are based on 'naked' monoclonal
antibodies, but it is clear that next-generation products will require cancer-
killing payloads to maximize the effectiveness of therapy. Thorium-227 is linked
to tumor-targeting molecules, such as monoclonal antibodies, to reach its
target. By conjugating thorium-227 to a number of such molecules, each with a
different tumor target, Algeta is exploring the potential to create a pipeline
of Targeted Thorium Conjugates (TTCs), a new-generation of alpha-pharmaceuticals
that specifically seek and destroy cancers while minimizing damage to
surrounding healthy tissues
Importantly, the direct tumor cell killing action of alpha-pharmaceuticals
potentially overcomes drug-resistance mechanisms. In addition, they cause a
localized 'bystander effect', whereby tumor cells adjacent to those bound by the
alpha-pharmaceutical may also be destroyed even if they do not bind the drug
themselves.
To date, Algeta has signed a research collaboration to develop TTCs with Genzyme
and an exclusive licence with Affibody.
###
For further information, please contact
Andrew Kay, CEO +47 2300 7990 / +47 4840 1360 (mob)
Thomas Ramdahl, CTO +47 2300 7990 / +47 9139 1458 (mob)
Øystein Soug, CFO +47 2300 7990 / +47 9065 6525
(mob)post(at)algeta.com
International media enquiries: +44 207 638 9571
Mark Swallow/David Dible/Sita mark.swallow(at)citigatedr.co.uk
Shah
Citigate Dewe Rogerson
US investor enquiries: +1 646 378 2928
Jessica Lloyd jlloyd(at)troutgroup.com
The Trout Group
About Algeta
Algeta is a company focused on developing novel targeted therapies for patients
with cancer based on its alpha-pharmaceutical platform.
Algeta's lead product Alpharadin (based on radium-223) is a first-in-class,
highly targeted alpha-pharmaceutical under clinical evaluation to improve
survival in patients with bone metastases from advanced cancer. Its localized
action helps preserve the surrounding healthy tissue thereby limiting side-
effects.
The development of bone metastases represents a serious development for cancer
patients as they are associated with a dramatic decline in patient health and
quality of life, ultimately leading to death. Bone metastases represent a major
unmet medical need, occurring frequently in certain late-stage cancers, e.g.
prostate (in up to 90% patients), breast (up to 60 %) and lung (up to 40%).
Alpharadin is being developed under a development and commercialization
agreement with Bayer HealthCare Pharmaceuticals AG, and is in a global phase III
clinical trial (ALSYMPCA) to treat bone metastases resulting from castration-
resistant prostate cancer (CRPC). In June 2011, the trial was stopped early on
the basis of showing an overall survival benefit. Alpharadin is also under
investigation in phase II clinical trials as a potential new treatment for bone
metastases in endocrine-refractory breast cancer patients, and in a phase I/IIa
trial in combination with docetaxel chemotherapy in for bone metastases CRPC
patients.
Algeta is also exploring the potential of Targeted Thorium Conjugates (TTCs),
which are based on conjugating the alpha-emitter thorium-227 to targeting
molecules, as a basis of a future pipeline of tumor-targeting alpha-
pharmaceutical candidates.
The Company is headquartered in Oslo, Norway, and was founded in 1997. Algeta
listed on the Oslo Stock Exchange in March 2007 (Ticker: ALGETA).
Alpharadin and Algeta are trademarks of Algeta ASA.
Forward-looking Statement
This news release contains forward-looking statements and forecasts based on
uncertainty, since they relate to events and depend on circumstances that will
occur in the future and which, by their nature, will have an impact on results
of operations and the financial condition of Algeta. There are a number of
factors that could cause actual results and developments to differ materially
from those expressed or implied by these forward-looking statements. These
factors include, among other things, risks associated with technological
development, the risk that research & development will not yield new products
that achieve commercial success, the impact of competition, the ability to close
viable and profitable business deals, the risk of non-approval of patents not
yet granted and difficulties of obtaining relevant governmental approvals for
new products.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
Press release:
http://hugin.info/134655/R/1524896/460594.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Algeta ASA via Thomson Reuters ONE
[HUG#1524896]
Unternehmensinformation / Kurzprofil:
Datum: 22.06.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 55750
Anzahl Zeichen: 7655
contact information:
Town:
Oslo
Kategorie:
Business News
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