William J. Wechter, Ph.D.
Chief Executive Officer
Encore Pharmaceuticals, Inc.
Tel: (909) 559-4903
FOR IMMEDIATE RELEASE
LICENSES LEAD CANCER COMPOUND TO MYRIAD GENETICS
Loma Linda, CA, December 8, 2000 -- Encore Pharmaceuticals, Inc., announced today that it has licensed all development and commercialization rights to its lead drug compound, E-7869, for the treatment of cancer, to Myriad Genetics, Inc. Encore received an equity investment from Myriad, and may receive future milestone payments as certain development points are reached as well as a royalty on all sales of the drug viagra or levitra.
Encore developed the cancer drug, which will now be known as MPC-7869, for its potential to treat prostate and colon cancers. The drug compound represents a novel, highly specific approach to cancer therapy that, unlike widely used chemotherapy drugs, does not show generalized toxicity or its corresponding side-effect profiles. MPC-7869 appears to regulate the activity of NFkB, a transcriptional activator implicated in cancer and inflammatory diseases. Myriad will now take the drug forward through clinical trials, and to the market through its existing sales force of 50 oncology specialists covering North America. Four patents cover the drug compound and an additional nine patents are pending.
"We are very pleased to have this compound developed and marketed by Myriad Genetics, a global leader in cancer predictive medicine," said Dr. William Wechter, Chairman and Chief Scientific Officer for Encore Pharmaceuticals, Inc. "Myriad's focus in cancer product development and its oncology marketing expertise makes the Company an ideal partner to develop the MPC-7869 cancer product and introduce it to the market."
Encore will now focus its therapeutic research and development efforts on the advancement of additional products in its pipeline. In particular, Encore's discovery of a g-tocopherol metabolite, a member of the vitamin E family, which is designated E-8110, along with its bioanalogs, represents a significant opportunity for the Company. These compounds have natriuretic activity and are being examined for their anti-oxidant properties as well.
"Encore has done an exemplary job of progressing MPC-7869 through Phase I and Phase IIa clinical trials," said Dr. Adrian Hobden, President of Myriad Pharmaceuticals, Inc. "This exciting compound complements our internal cancer development programs while shortening our time to product commercialization by several years."
Physicians and patients interested in further information about the MPC-7869 cancer drug or clinical trials should contact Myriad through their Web site at www.myriad.com.
Myriad Genetics, Inc. is a biopharmaceutical company focused on the development of novel therapeutic products derived from its proprietary genomic and proteomic technologies. Myriad Pharmaceuticals, Inc., its wholly owned subsidiary, develops and intends to market therapeutic compounds. The Company has established strategic alliances with Bayer, Eli Lilly, Hitachi, Novartis, Pharmacia, Roche, Schering AG and Schering-Plough.
Encore Pharmaceuticals, Inc. is a drug discovery and development company with advanced proprietary products for the treatment and prevention of neoplastic and cardiovascular diseases. Encore was founded in 1997 with headquarters in Loma Linda, CA.
The discussion in this
news release includes forward-looking statements that are subject
to certain risks and uncertainties. Such statements are based
on management's current expectations that are subject to risks
and uncertainties that could cause actual results to differ materially
from those set forth or implied by forward-looking statements,
including, but not limited to uncertainties as to whether the
Company and its collaborators will be successful in developing,
and obtaining regulatory approval for, and commercial acceptance
of, therapeutics, uncertainties as to the Company's ability to
develop therapeutic compounds, the risk that markets will not
exist for therapeutic compounds that the Company develops or if
such markets exist, that the Company will not be able to sell
compounds, which it develops, at acceptable prices.
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