September 9, 2008

FivePrime Therapeutics Initiates Enrollment for Phase I Cancer Trial

Five Prime Therapeutics, a protein therapeutics discovery and development company, has enrolled the first patient in a Phase I clinical trial of its investigational protein therapeutic, FP-1039, in patients with advanced solid tumors.

The purpose of this multi-center, first-time-in-human, Phase I trial is to enroll patients with advanced solid tumors who have failed standard therapy.

Patients will receive four weekly doses of FP-1039 by intravenous administration to characterize the safety and tolerability of FP-1039. Additionally, the pharmacokinetics and preliminary anti-tumor activity of FP-1039 will be assessed in the study.

FP-1039 is an FGFR1:Fc fusion protein shown in preclinical studies to inhibit angiogenesis and slow the growth of tumors.

Lewis Williams, executive chairman and founder of FivePrime, said: "We are excited to begin clinical testing of FP-1039, a biologic that may have broad potential application in cancer treatment.

"This is our first protein therapeutic to enter clinical development and represents a major milestone for FivePrime. Our preclinical studies suggest FP-1039 will block both cancer cell proliferation and tumor angiogenesis."