CASC Cascadian Therapeutics, Inc. (delisted)

Oncothyreon Inc. (NASDAQ:ONTY), a clinical-stage biopharmaceutical company, today announced the presentation of data highlighting the preclinical development of orally bioavailable, potent and selective checkpoint kinase 1 (Chk1) inhibitors. Results were presented at the American Association for Cancer Research (AACR) Annual Meeting 2016 in New Orleans.

Chk1 is a protein kinase that plays a major role in the ability of cancer cells to respond to DNA damage and DNA replication stress. As a single agent, Chk1 inhibitors may selectively target cancer cells that have high replication stress, which can be caused by activation of oncogenic signaling and loss of tumor suppressor functions. Chk1 inhibitors may also be used in combination with chemotherapy, potentially enhancing cell death and increasing the efficacy of these agents.

“The research presented at AACR describes the results of our efforts to identify highly potent and selective, orally bioavailable Chk1 inhibitors with compelling single-agent and combinatorial anti-tumor activity,” said Scott Peterson, Ph.D, Chief Scientific Officer of Oncothyreon.  “We believe the Chk1 program warrants further study as part of our strategy to develop a pipeline of novel, orally available, targeted agents designed to improve the lives and outcomes of patients with cancer.”

The Oncothyreon presentation, titled “Discovery and development of orally available subnanomolar potent checkpoint kinase 1 inhibitors as potential anticancer therapies”  (Abstract #2721), highlights preclinical data demonstrating that select Chk1 inhibitors display subnanomolar biochemical and single-digit nanomolar cellular potency against Chk1.  In addition, Oncothyreon Chk1 inhibitors are active against a diverse range of cancer cell lines derived from leukemias, lymphomas and solid tumors, and demonstrate synergistic activity in combination with the chemotherapeutic drugs gemcitabine or cytarabine. The pharmaceutical properties of the Chk1 inhibitors also indicate good metabolic stability and pharmacokinetic properties, with good oral bioavailability in preclinical models, which may allow for the development of optimized dosing schedules.

The research was conducted pursuant to a research collaboration agreement with Sentinel Oncology. 

About Oncothyreon

Oncothyreon is a clinical-stage biopharmaceutical company specializing in the development of innovative therapeutic products for the treatment of cancer. Our goal is to discover, develop and commercialize novel compounds that have the potential to improve the lives and outcomes of cancer patients. Our most advanced product candidate is ONT-380, an orally active and selective small molecule HER2 inhibitor. For more information, visit www.oncothyreon.com.

Forward-Looking Statements

In order to provide Oncothyreon’s investors with an understanding of its current results and future prospects, this release contains statements that are forward-looking. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as “believes,” “anticipates,” “plans,” “expects,” “will,” “intends,” “potential,” “possible” and similar expressions are intended to identify forward-looking statements. These forward-looking statements include Oncothyreon’s expectations regarding clinical and preclinical development activities and potential benefits of its current and future product candidates.

Forward-looking statements involve risks and uncertainties related to Oncothyreon’s business and the general economic environment, many of which are beyond its control. These risks, uncertainties and other factors could cause Oncothyreon’s actual results to differ materially from those projected in forward-looking statements, including the risks associated with the costs and expenses of developing its product candidates, the adequacy of financing and cash, cash equivalents and investments, changes in general accounting policies, general economic factors, achievement of the results it anticipates from its preclinical development and clinical trials of its product candidates and its ability to adequately obtain and protect its intellectual property rights. Although Oncothyreon believes that the forward-looking statements contained herein are reasonable, it can give no assurance that its expectations are correct. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. For a detailed description of Oncothyreon’s risks and uncertainties, you are encouraged to review the documents filed with the securities regulators in the United States on EDGAR and in Canada on SEDAR. Except as required by law, Oncothyreon does not undertake any obligation to publicly update its forward-looking statements based on events or circumstances after the date hereof.

Additional Information

Additional information relating to Oncothyreon can be found on EDGAR at www.sec.gov and on SEDAR at www.sedar.com.

Investor Contact:
Julie Rathbun
Rathbun Communications
206-769-9219
ir@oncothyreon.com