September 11, 2008

AmpliMed Signs Licensing Agreement With Handok Pharmaceuticals

AmpliMed, a cancer therapeutics company, has entered into a license agreement with Korean-based pharmaceutical company Handok Pharmaceuticals for exclusive rights to its investigational cancer therapeutic Amplimexon in Korea.

Under terms of the agreement, Handok will receive marketing and distribution rights to all cancer indications for Amplimexon in Korea and will pay AmpliMed an up-front fee plus additional payments based upon the achievement of certain development and regulatory milestones. Additional financial terms of the deal were not disclosed.

Amplimexon is said to be a small molecule drug that increases oxidative stress in tumor cells leading to mitochondrial damage and apoptosis (cell death).

Results from early stage clinical trials of Amplimexon have demonstrated promising results in patients with advanced melanoma, breast, lung, prostate and pancreatic cancer. Amplimexon also appears to be synergistic with a wide range of existing chemotherapeutic agents including docetaxel (Taxotere), gemcitabine (Gemzar), and dacarbazine (DTIC).

AmpliMed is currently conducting a Phase II randomized trial evaluating Amplimexon plus gemcitabine vs gemcitabine plus placebo in approximately 124 chemotherapy naive patients with metastatic pancreatic cancer. Accrual in the trial is progressing well, and the company anticipates having survival results from the trial by the end of 2009. The ongoing Phase II trial will confirm and expand upon the evidence for clinical activity developed in a Phase I study.

Robert Dorr, CEO of AmpliMed, said: "We are very encouraged by the clinical activity, tolerability and synergy with existing treatments demonstrated by Amplimexon in multiple clinical trials involving more than 300 cancer patients. In addition to our ongoing Phase II trial in pancreatic cancer, we plan to start a Phase II trial of Amplimexon in combination with taxotere in patients with non small cell lung cancer later in 2008."