September 24, 2008

Aveo Pharmaceuticals Initiates Phase I Lymphoma Trial

Aveo Pharmaceuticals has initiated a Phase I clinical trial to evaluate the safety, tolerability and recommended dose of SCH900105, its novel, highly potent antibody to hepatocyte growth factor, administered intravenously in patients with relapsed or refractory solid tumors or lymphoma.

SCH900105 (AV-299) is being developed in collaboration with Schering-Plough. Under the terms of the agreement, human dosing with SCH900105 (AV-299) triggers a $3 million milestone payment from Schering-Plough to Aveo.

Tuan Ha-Ngoc, president and CEO of Aveo, said: "We are pleased to announce the initiation of clinical trials of SCH900105 (AV-299). Working with Schering-Plough, our research teams have made rapid progress with this novel antibody.

"The cMET/ hepatocyte growth factor (HGF) pathway is one of the most promising in cancer research. We believe that SCH900105 (AV-299) has the potential to be the best-in-class anti-HGF antibody. Our proprietary human response platform promises to provide us with tools to move SCH900105 (AV-299) forward rapidly in clinical development."