Healthcare Industry News: FORMA Therapeutics
News Release - May 17, 2006
Cabrellis Pharmaceuticals Corporation Announces Corporate Launch and Founding Management Team
SAN DIEGO--(HSMN NewsFeed)--May 17, 2006--Cabrellis Pharmaceuticals Corporation today announced the formal launch of operations following a successful spinout from ConFORMA Therapeutics Corporation. The company was formed by members of the Conforma management team that executed the sale of Conforma to Biogen Idec, Inc. earlier this month. Cabrellis is a specialty pharmaceutical company committed to the development of therapies for the treatment of cancer. The Company's lead product, Calsed(TM) (amrubicin hydrochloride), is expected to enter Phase II clinical testing later this quarter.Cabrellis' initial investors will be comprised of the former Conforma shareholders, including Domain Associates, Forward Ventures, Lilly Ventures, Novo A/S, ProQuest Investments, RBC Capital Partners, RiverVest Venture Partners, and S.R. One, Limited.
Mr. Estok will be joined by co-founders John E. Crawford, who will serve as chief financial and administrative officer, and Christopher C. LeMasters, who will serve as chief business officer. Both were former officers with ConFORMA Therapeutics.
"Cabrellis is fortunate to have a strong partner in Dainippon Sumitomo Pharma," said Christopher LeMasters. "Since the inception of the partnership with Conforma in June of 2005, they have been extraordinarily supportive. Both of our companies are looking forward to continuing this successful relationship."
About Calsed(TM)
Calsed(TM) (amrubicin hydrochloride) is a third generation, totally synthetic anticancer drug. In pre-clinical studies, amrubicin demonstrated a higher level of anti-tumor activity than conventional anthracycline drugs without exhibiting any indication of the cumulative cardiac toxicity common to this class of compounds. In clinical trials conducted in Japan, Calsed(TM) has been proven to be effective in patients with small cell lung cancer as well as non-small cell lung cancer. Dainippon Sumitomo launched Calsed(TM) in Japan in December 2002 and the drug has been administered to over 6000 patients without any reports of cumulative cardiotoxicity to date. Dainippon Sumitomo is conducting additional Calsed(TM) clinical trials in Japan in lung cancer and Non-Hodgkin's Lymphoma. Calsed(TM) is marketed in Japan as an injectable freeze-dried preparation, indicated for use in both non-small cell and small cell lung cancers. Cabrellis has the exclusive rights to develop and commercialize Calsed(TM) in North America and Europe, licensed from Dainippon Sumitomo Pharma of Osaka, Japan.
About Cabrellis Pharmaceuticals
Cabrellis is a specialty pharmaceutical company committed to the development of therapies for the treatment of cancer. The Company's lead product, Calsed(TM) (amrubicin), is a third generation anthracycline and the world's first totally synthetic anthracycline drug, licensed from Dainippon Sumitomo Pharma. Further information regarding Cabrellis is available at www.cabrellis.com.
Source: Cabrellis Pharmaceuticals
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