ProlX Pharmaceuticals Designated Corporate Partner in $5.6 Million Grant to Fund Targeted Therapy Cancer Drug Discovery Research
Posted on: Wednesday, 7 December 2005, 12:00 CST
ProlX Pharmaceuticals announced today that it has been appointed Corporate Partner for a consortium of four leading research institutions that has received a $5.6 million National Cooperative Drug Discovery Group (NCDDG) award from the National Cancer Institute. The research sites include the M.D. Anderson Cancer Center, the Burnham Institute Cancer Research Center, the University of Pittsburgh, and St. Jude Children's Research Hospital. The five-year award will support the discovery and development of targeted therapies designed to treat only the cancer cells and minimize damage to normal, healthy cells.
"By developing targeted therapies that specifically attack cancer cells, it is our hope that these drugs will offer people living with cancer the best chance for prolonged survival and reduced treatment-related side effects that negatively impact their lives," explained Dr. Garth Powis, director of the Center for Targeted Therapy at M.D. Anderson Cancer Center and the NCDDG grant's project leader. "This grant will greatly enhance our efforts to identify, screen and develop novel compounds that target the unique characteristics of cancer cells."
ProlX Pharmaceuticals will provide drug development support and facilitate bringing these novel cancer therapies into clinical trials. As the Corporate Sponsor, ProlX retains the first right of refusal on all new compounds discovered and developed by the cooperative during the five-year granting period. ProlX Pharmaceuticals' CEO, Dr. Lynn Kirkpatrick, stated, "ProlX is pleased to support this novel cancer drug development program that brings together such an impressive group of leading investigators in the field of targeted therapeutics. We expect this collaboration will be as productive in providing exciting new drugs to ProlX's pipeline as the previous award."
About ProlX Pharmaceuticals
ProlX Pharmaceuticals Corp. is a privately held biotechnology company dedicated to the discovery of novel therapies for the treatment of cancer. The lead drug candidate PX-12 is recruiting patients in a Phase Ib clinical trial and the company plans to initiate a Phase II study in 2006. ProlX has a portfolio of three other agents which are in pre-clinical development and will enter clinical trials over the next 12 to 24 months.
Source: Business Wire
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