PHARMAGENESIS ESTABLISHES TEAMS TO DEVELOP TWO CANCER TREATMENT DRUG CANDIDATES IN THE U.S.

Anti-Cancer Agent Induces Apoptosis; Adjunct Cancer Drug Restores Blood Cells During Chemotherapy

PALO ALTO, Calif. – April 2, 2001 – Pharmagenesis, Inc. has assembled teams to develop two leading cancer therapy drug candidates – anti-cancer agent PG490-88 and hematopoiesis enhancer PG2-2000 – for the U.S. market.  The two new development teams will work from Pharmagenesis’ headquarters in Palo Alto, Calif.

Each team is comprised of consultants with specialized experience in submitting drugs for U.S. Food and Drug Administration (FDA) approval.  They will guide the preclinical studies and develop procedures to manufacture the medicine, all to FDA standards.  At the completion of these studies, Pharmagenesis will submit investigational new drug (IND) applications to the FDA for permission to start phase one clinical trials.

Extensive laboratory research on PG490-88 indicates the new compound, alone or in combination with conventional chemotherapy agents, induces apoptosis, or programmed cell death and is an effective anticancer drug in animal models of human cancers.

PG2-2000 is similar to PG2, which successfully completed clinical trials in China.  In Chinese trials, regulated by the Chinese State Drug Administration, PG2 showed efficacy in restoring blood cells destroyed by chemotherapy.  The Chinese SDA is the regulatory equivalent of the U.S. FDA and employs stringent regulations similar to those used in U.S. drug trials.

PG2-2000 will be developed for global marketing. “The upcoming IND of PG490-88 and PG2-2000 brings us a step closer to our business objectives,” Nicolas Druz, CEO, Pharmagenesis, said.  “Pharmagenesis is fast becoming the ‘golden gate’ that brings together China’s 4,000 years of drug knowledge and Western science.  It’s that combination that allows us to develop innovative and efficient drugs for both the Western and Eastern markets.”

Pharmagenesis expects to file an IND application for PG490-88 by the end of this year.  PG2-2000’s IND filing is planned for early 2002.

About Pharmagenesis, Inc.

Pharmagenesis, Inc. develops anticancer therapies and treatments for cancer therapy-related bone-marrow suppression and for the management of transplant rejection.  The privately held company focuses on developing ethical pharmaceuticals from purified extracts of plants that have been employed in traditional Chinese medicine for more than 4,000 years.  Efficacy is validated by clinical trials conforming to standards of appropriate government regulatory agencies.  Pharmaceuticals developed and/or licensed by the company are being commercialized initially in the high-growth markets of China and Taiwan.

Pharmagenesis’ corporate headquarters and R & D facility, employing cutting-edge Western medical research techniques, are located in Palo Alto, Calif.  Pharmagenesis also has operations in Beijing and Taipei.

 

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