Healthcare Industry News: MUC1
News Release - December 20, 2007
Antisoma opens US Headquarters in Princeton, New JerseyPRINCETON, NJ, and LONDON--(Healthcare Sales & Marketing Network)--Dec 20, 2007 -- Antisoma plc (LSE: ASM; USOTC: ATSMY), a London-based biopharmaceutical company focusing on the development of novel products for the treatment of cancer, today announced the opening of its United States headquarters in Princeton, New Jersey. Dr Chris Smyth, Head of Clinical Operations at Antisoma, has been appointed VP, US Operations. The new office will focus on the clinical and regulatory progress of the Company's rapidly advancing oncology pipeline.
"We are pleased to welcome Antisoma to New Jersey and appreciate the investment they are making in our state," said Gary Rose, Chief of the Office of Economic Growth. "The Corzine Administration is committed to maintaining the strength of the biopharmaceutical industry in New Jersey and looks forward to working closely with Antisoma to encourage and support their growth."
Antisoma has a diverse portfolio which targets a broad range of tumors through different approaches. The Company's lead product, ASA404, is a vascular disrupting agent (VDA) in trials for various solid tumors and shortly to enter phase III in non-small cell lung cancer. In April 2007, Antisoma licensed ASA404 to Novartis in a global agreement worth up to $890 million in milestone payments plus royalties on sales. Antisoma retains an option to co-commercialize the drug with Novartis in the US.
Other products in development include AS1411, a DNA aptamer in phase II in acute myeloid leukemia and with other phase II studies planned; AS1402 (huHMFG1), a humanized monoclonal antibody against MUC1 being prepared for a phase II trial in breast cancer; and AS1409 (huBC1-huIL12), an antibody-cytokine fusion protein for targeted delivery of IL-12, which will begin clinical trials shortly.
Glyn Edwards, CEO of Antisoma, commented, "This is the optimal time for Antisoma to open an office in the US, where much of our clinical activity is already focused. New Jersey offers an ideal location, given the proximity to so much of the US pharma and biotechnology industry and with easy access to New York and to an unrivalled pool of specialist talent. Our pipeline continues to advance, with our partner Novartis planning to begin a phase III study of ASA404 in lung cancer early next year, and the first phase II data on AS1411 in acute myeloid leukemia expected soon."
In addition to Dr Smyth, Antisoma is adding a number of key positions to its Princeton office, including regulatory affairs and clinical development. All three of the Company's clinical-stage products are currently undergoing trials in the US. Antisoma also has collaborations with clinical and scientific centers of excellence in the US.
Headquartered in London, UK, Antisoma is a biopharmaceutical company that develops novel products for the treatment of cancer. Antisoma fills its development pipeline by acquiring promising new product candidates from internationally recognized academic or cancer research institutions. Its core activity is the preclinical and clinical development of these drug candidates. Please visit www.antisoma.com for further information.
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