Additional Resources to Accelerate ENMD-2076 Partnering Efforts
ROCKVILLE, Md. August 12, 2008 - EntreMed, Inc.
(Nasdaq: ENMD), a clinical-stage pharmaceutical company developing therapeutics for the treatment of cancer and inflammatory diseases, today announced that it has engaged JSB-Partners, a global life sciences advisor, to enhance business development and partnering activities for its lead Aurora A/angiogenesis kinase inhibitor, ENMD-2076.
ENMD-2076 is a novel, orally-active, selective kinase inhibitor with potent activity against Aurora A and tyrosine kinases linked to the promotion of cancer and inflammatory diseases. ENMD-2076 has a unique combination of target activities including cell cycle inhibition (Aurora A), antiangiogenesis (VEGFR, FGFR, PDGFR), and antiproliferative (Flt-3, Src, c-Kit) kinase inhibition. ENMD-2076 has demonstrated substantial 1) dose-dependent efficacy, both as a single agent and in combination with approved therapies, in multiple preclinical models; and 2) tumor regression in breast, colon, leukemia, and other cancers. ENMD-2076 has shown a favorable safety profile in preclinical studies without cardiovascular toxicity. EntreMed has strong intellectual property around the lead compound, ENMD-2076, and over 600 analogs. ENMD-2076 is currently in a Phase 1 study in refractory cancer patients. A Phase 1 study in either multiple myeloma or hematological cancers is planned for the second half of 2008.
“Consistent with our strategy, we have been actively seeking partnership opportunities for our unique, orally-active, selective kinase inhibitor,
ENMD-2076. The relationship with JSB-Partners will intensify our partnering activities for ENMD-2076, improving our speed and global outreach,” commented Thomas H. Bliss, EntreMed Senior Vice President, Corporate and Business Development. Mr. Bliss continued, “Based on the compound’s strong preclinical antitumor activity, favorable safety profile, bioavailability, and multiple mechanisms of action, we believe that ENMD-2076 has significant therapeutic potential in a broad range of tumor types. ENMD-2076 represents an exciting clinical-stage opportunity for the right partner.”
About JSB-Partners
JSB-Partners is a global transaction advisory firm with a proven history in creating value for its clients. The partners’ broad life science and medical backgrounds also include deep and diverse expertise in financial, commercial, and strategic business transactions at the global level. JSB has extensive and trusted relationships with pharma/biotech clients and shareholders, and a proven partnering process, which allows them to achieve optimal transactions and aligned outcomes for stakeholders. JSB’s partners are located in Europe, the United States, and Japan.
About EntreMed
EntreMed, Inc. is a clinical-stage pharmaceutical company developing therapeutic candidates primarily for the treatment of cancer and inflammation. MKC-1, an oral cell-cycle regulator with activity against the mTOR pathway, is currently in multiple Phase 2 clinical trials for cancer. ENMD-1198, a novel antimitotic agent, and ENMD-2076, a selective kinase inhibitor, are in Phase 1 studies in advanced cancers. The Company also has an approved IND application for Panzem(R) in rheumatoid arthritis. EntreMed’s goal is to develop and commercialize new compounds based on the Company’s expertise in angiogenesis, cell cycle regulation, cell signaling and inflammation - processes vital to the treatment of cancer and other diseases, such as rheumatoid arthritis. Additional information about EntreMed is available on the Company’s web site at http://www.entremed.com and in various filings with the Securities and Exchange Commission.
Forward Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for expectations for future financial or business performance (including the timing of royalty revenues and future R&D expenditures), strategies, expectations and goals. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and no duty to update forward-looking statements is assumed. Actual results could differ materially from those currently anticipated due to a number of factors, including those set forth in Securities and Exchange Commission filings under “Risk Factors,” including risks relating to the need for additional capital and the uncertainty of additional funding; variations in actual sales of Thalomid(R), risks associated with the Company’s product candidates; the early-stage products under development; results in preclinical models are not necessarily indicative of clinical results, uncertainties relating to preclinical and clinical trials; success in the clinical development of any products; dependence on third parties; future capital needs; and risks relating to the commercialization, if any, of the Company’s proposed products (such as marketing, safety, regulatory, patent, product liability, supply, competition and other risks).
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