Healthcare Industry News: Donald Picker
News Release - March 25, 2008
Oncolin Therapeutics Provides a Company OverviewHOUSTON--(HSMN NewsFeed)--Oncolin Therapeutics, Inc. (OTCBB:OCOL ) (Oncolin) recently completed a name change from Edgeline Holdings, Inc. and began trading under its new symbol (OTCBB:OCOL ) on March 24, 2008. Oncolin is now a biotherapeutic company focused on developing drugs which interfere with the key mechanisms of cancer tumor development. The company is developing a lead drug for brain cancer, ONC-127, which is currently in preclinical development.
The company has a pipeline of four different technologies which it acquired through a variety of partnerships and licensing agreements. The lead program is the result of an exclusive right to license from The University of Texas M.D. Anderson Cancer Center, the leading and largest cancer center in the world. Oncolin also has a partnership with options to license patents for two technologies from Houston Pharmaceutical Inc (HPI) and a recently completed agreement for a fourth technology from the Pharmaceutical Research Institute in Warsaw, Poland.
The lead technology from The University of Texas M.D. Anderson Cancer Center (UTMDACC) involves blocking the ability of certain cancer cells to produce energy through glycolysis, the major source used by cancer cells to proliferate and survive. The tumors most affected by this mechanism are brain tumors, but it also addresses a variety of tumors that metastasize to the brain such as breast cancer. The second technology is a lead compound with a new mechanism for microtubule inhibition which would provide a drug with possible activity against the major solid tumors, such as breast, prostate, lung and ovarian. This has been the most successful target for cancer drugs as it has produced many drugs approved by the FDA totaling several billion dollars in yearly sales. This new analog has the potential to have yet a different spectrum of activity, particularly against resistant disease, and provide the potential large sales volume as a result of potential wide use in many solid tumors. The third program is involved with heat activated anticancer drugs which would be useful in more locally available tumors such as head and neck cancer. The lead compounds in this area have been identified as polypeptide conjugates of known cytotoxic drugs and have shown in vitro activity that has been recently published in the scientific literature. The fourth pipeline technology is a research program to identify a key inhibitor of an enzyme in the glycolytic pathway for cancer cells. This enzyme is highly upregulated in tumor cells and provides a new strategy for anticancer drug development.
Oncolin’s robust pipeline of oncology research programs are funded primarily by peer-reviewed Federal grants.
Oncolin has assembled a management team that has the experience to carry out this aggressive drug development program. Len Ivins, CEO and Chairman of the Board, has extensive experience in company management, public company governance, policy and finance including having been CEO of a Fortune 500 joint venture company. Dr. Donald Picker, President and COO, has extensive experience in senior management positions in the biotech industry, primarily in the field of cancer drug development. His group was responsible for the development of many cancer drugs including the discovery and development of carboplatin (Paraplatin) and its subsequent licensing to Bristol Myers, where it has sales of over half a billion dollars on an annual basis. The company also has a key group of scientists and clinicians from UTMDACC who are involved as consultants and collaborators.
“We are extremely proud of what we have been able to accomplish in a short period of time,” said Dr. Donald Picker, President and COO of the company, “Oncolin is a very interesting cancer company with a diverse pipeline and a team with extensive experience in oncology drug development.”
About Oncolin Therapeutics, Inc.
Headquartered in Houston, Texas, Oncolin Therapeutics, Inc. is a publicly traded biopharmaceutical company that engages in the discovery, development and commercialization of novel selective anticancer therapies. Additional information about Oncolin can be found on the Web at www.oncolinthera.com.
Safe Harbor Statement
This press release contains statements that may constitute forward-looking statements, including the company's ability to successfully acquire and develop technologies that are and may be acquired. These statements are based on current expectations and assumptions and involve a number of uncertainties and risks that could cause actual results to differ materially from those currently expected. For additional information about Oncolin's future business and financial results, refer to Oncolin's Quarterly Report on Form 10-QSB for the quarter ended September 30, 2007 and Annual Report on Form 10-KSB for the year ended March 31, 2007. Oncolin Therapeutics undertakes no obligation to update any forward-looking statement that may be made from time to time by or on behalf of the company, whether as a result of new information, future events or otherwise.
Source: Oncolin Therapeutics
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