ImClone Systems and CombiChem Establish Target-Based Drug Discovery Collaboration in Oncology.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and SAN DIEGO--(BW HealthWire)--Oct. 13, 1997-- ImClone Systems Incorporated (Nasdaq:IMCL IMCL International Making Cities Livable IMCL Inter Marine Container Lines IMCL International Management Consultants Ltd. IMCL Indraprastha Medical Corp Ltd (India) IMCL Imperial Majesty Cruise Line ) and CombiChem, Inc. announced today a collaboration to discover and develop novel small molecules against selected targets for the treatment of cancer. In this joint effort, CombiChem will utilize its proprietary Discovery Engine(TM) to generate lead candidates, which ImClone will test against its biological assays to determine activity against key receptors and signaling molecules signaling molecules substances synthesized by cells for purposes of extracellular communication between cells. associated with cancer. ImClone will provide CombiChem with research funding for two years, milestone payments and royalties on marketed products. Additionally, ImClone has made an equity investment in CombiChem. ImClone will have exclusive worldwide rights to develop and market products resulting from the collaboration. "It is our belief that CombiChem's lead generation capabilities can expedite the identification of compounds with promising biological activity, as compared to traditional methodologies," commented Samuel D. Waksal Samuel D. Waksal, who was born September 8, 1947 in Paris, France to Holocaust survivor parents, is an Jewish American immunologist and businessman, who founded the biopharmaceutical company ImClone Systems in 1984. He also served as ImClone's CEO. , Ph.D., President and Chief Executive Officer of ImClone Systems. "These capabilities, coupled with ImClone's advanced expertise in critical signaling pathways in cancer, should accelerate our efforts to identify important new compounds for commercial development." In the collaboration, the companies will utilize CombiChem's Discovery Engine(TM) and proprietary Universal Informer Library(TM) to generate small molecules for screening in ImClone's assays for identification of lead candidates. "We are pleased to bring together our computational drug discovery process with ImClone's expertise in oncology," stated Vicente Anido, Jr., Ph.D., CombiChem's President and Chief Executive Officer. CombiChem, Inc. is a computational drug discovery company that is applying its proprietary design technology and rapid synthesis capabilities to accelerate the discovery process. Using its Discovery Engine(TM), a convergent, iterative process for drug discovery, the Company focuses on the generation, evolution and optimization of potential new lead candidates for its collaborative partners. CombiChem's Universal Informer Library(TM) consists of a computer-designed, proprietary collection of approximately 10,000 physical compounds selected to provide information about targets where little or no prior information is available. In addition to this collaboration with ImClone Systems, CombiChem has established collaborative partnerships with Teijin, Limited of Japan, Roche Bioscience and Sumitomo Pharmaceuticals Co., Ltd. CombiChem, Inc. is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. based in San Diego, CA. ImClone Systems has two oncology products in late-stage clinical development and is advancing earlier drug candidates to the clinical stage. The Company is currently evaluating C225, an epidermal growth factor receptor This article is about a cell suface receptor. For estimated measure of kidney function (eGFR), see Glomerular filtration rate. The epidermal growth factor receptor (EGFr) antagonist, in head and neck cancer patients in three Phase Ib/IIa dose-escalation trials in combination with other anti-cancer therapies. ImClone expects to initiate Phase II/III studies to evaluate the potential of C225 in various tumor types. In addition, ImClone intends to initiate a Phase III multinational trial in small cell lung cancer Lung Cancer, Small Cell Definition Small cell lung cancer is a disease in which the cells of the lung tissues grow uncontrollably and form tumors. Description Lung cancer is divided into two main types: small cell and non-small cell. patients with the Company's anti-cancer vaccine, BEC2, in the fourth quarter of this year. In preclinical research, the Company is evaluating the therapeutic potential of its anti-FLK-1/KDR monoclonal antibody monoclonal antibody, an antibody that is mass produced in the laboratory from a single clone and that recognizes only one antigen. Monoclonal antibodies are typically made by fusing a normally short-lived, antibody-producing B cell (see immunity) to a fast-growing as an anti-angiogenic agent, especially against tumors known to secrete vascular endothelial growth factor Vascular endothelial growth factor (VEGF) is an important signaling protein involved in both vasculogenesis (the de novo formation of the embryonic circulatory system) and angiogenesis (the growth of blood vessels from pre-existing vasculature). . ImClone Systems Incorporated, headquartered in New York, is a biopharmaceutical company developing novel therapeutic products including interventional therapeutics, cancer vaccines Cancer vaccines A treatment that uses the patient's immune system to attack cancer cells. Mentioned in: Pancreatic Cancer, Exocrine and blood cell growth factors for the treatment of cancer and cancer-related disorders. Except for the historical information contained herein, the matters discussed in this news release may include forward-looking statements. Actual results may differ materially from those predicted in such forward-looking statements due to the risks and uncertainties inherent in the Companies' businesses, including, without limitation, risks and uncertainties in obtaining and maintaining regulatory approval, market acceptance of and continuing demand for the Companies' products, the impact of competitive products and pricing, and the Companies' ability to obtain additional financing to support their operations. The Companies undertake no obligation to revise or update this press release to reflect events or circumstances thereof. CONTACT: ImClone Systems Incorporated Andrea F. Rabney Director of Corporate Development and Investor Relations Investor relations The process by which the corporation communicates with its investors. (212) 645-1405 or CombiChem, Inc. Vince Anido, Jr., Ph.D. President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. (619) 530-0484 Karin Eastham Vice President, Finance & Administration and CFO See Chief Financial Officer. (619) 530-8202 or Burns McClellan, Inc. Reagan Codner (investors) Justin Jackson (media) (212) 213-0006 |
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