ILEX Oncology and MPI Development form joint venture to develop anticancer compound.SAN ANTONIO San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. and MATTAWAN, Mich.--(BUSINESS WIRE)--Jan. 2, 1997--ILEX(TM) Oncology Inc. and MPI MPI - Message Passing Interface Development today announced they have formed a limited partnership for the development of piritrexim. Piritrexim, a DNA synthesis DNA synthesis commonly refers to:
Malignant tumour of the bladder. The most significant risk factor associated with bladder cancer is smoking. Exposure to chemicals called arylamines, which are used in the leather, rubber, printing, and textiles industries, is another risk factor. , early stage Kaposi's sarcoma Kaposi's sarcoma (käp`əshē', kəpō`sē), a usually fatal cancer that was considered rare until its appearance in AIDS patients. and other cancers. ILEX Ilex a bush bearing berries containing saponins; cause vomiting, diarrhea. Called also holly. and MPI will jointly own and manage the new venture and share equally in the anticipated future for piritrexim. Under the agreement, ILEX has licensed development and marketing rights for piritrexim to the newly formed venture in exchange for a licensing fee, milestone payments and royalties. ILEX and MPI will contribute equal amounts to capitalize the new venture. In addition, MPI has made a $5 million equity investment in ILEX Oncology. Dr. Jerry R. Mitchell, chief executive officer of MPI Development, will join the board of directors of ILEX. ILEX will also have an opportunity to review any new technologies in the field of oncology discovered or acquired by MPI. "This joint venture will allow us to optimize the worldwide development of piritrexim," stated Richard Love, president and chief executive officer of ILEX. "ILEX brings its extensive expertise in oncology drug development, while MPI has broad drug development experience, resources and contacts in Japan as well as extensive data management capabilities." MPI Development Inc. and MPI Research L.L.C. are affiliated drug evaluation and development companies. MPI Research is a full-service contract toxicology and pharmacokinetics research laboratory. MPI Development provides medical expertise, sophisticated biostatistical and data management technology, and extensive clinical development experience for guiding drugs efficiently through the regulatory process under contracts or equity partnerships with pharmaceutical and biotechnology companies Top 100 Biotechnology Companies The following is a list of the top 100 biotechnology companies ranked by revenue. The first nine companies qualify for the list of the top 50 pharmaceutical companies. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Japan, and Europe. ILEX Oncology Inc. is dedicated to accelerating the development and commercial availability of pharmaceuticals for the treatment of patients with cancer. ILEX uses its oncology drug development expertise to develop anticancer compounds under contract for and in partnership with pharmaceutical and biotechnology firms. Simultaneously, ILEX is developing a portfolio of investigational compounds to prevent the occurrence, recurrence or progression of cancer. ILEX's close association with San Antonio's Cancer Therapy & Research Center and with other leading cancer research institutions and experts allows far-reaching access to clinical expertise and patients necessary for the development of anticancer pharmaceuticals. CONTACT: ILEX Oncology Timothy Williamson, 210/677-6080 or MPI Development Timothy Gumbleton, 616/668-3336 or Makovsky & Company Scott Taylor, 212/508-9600 |
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