Avalon Pharmaceuticals Announces the Initiation of Compound Characterization Phase in Drug Discovery Collaboration
January 14 2008 - 8:00AM
Business Wire
Avalon Pharmaceuticals, Inc. (Nasdaq: AVRX), today announced the
initiation of the next phase in its drug discovery collaboration
with Novartis. The collaboration aims to discover small molecule
therapeutic compounds targeted against a pathway selected by
Novartis. The terms of the collaboration provide for upfront,
research support and milestone payments. AvalonRx�, Avalon�s
proprietary drug discovery platform, was used to screen, identify
and characterize compounds from Novartis� proprietary compound
library. Candidate hit compounds were successfully identified by
monitoring gene expression changes of a transcriptional signature
reflecting disruption of the selected pathway. The parties have
agreed to initiate characterization of the identified compounds
which triggers an undisclosed payment to Avalon for research
support under the terms of the agreement. �We are very pleased with
the progress of this collaboration,� stated Stephen K. Horrigan,
Ph.D., Vice President of Research. �Our AvalonRx� drug discovery
platform brings real value to programs through greater speed in
identifying compounds with more selectivity against virtually any
pathway or target, including those which historically have been
considered undruggable.� AvalonRx� AvalonRx� is a comprehensive,
innovative and proprietary suite of technologies based upon
large-scale gene expression analysis. This platform facilitates
drug discovery by expanding the range of therapeutic targets for
drug intervention, including targets and target pathways frequently
considered intractable using conventional HTS approaches. It also
allows more informed decisions about which compounds to advance
towards clinical trials and facilitates drug development through
identification of biomarkers of efficacy that can stratify patients
or provide early indicators of response. About Avalon
Pharmaceuticals Avalon is a biopharmaceutical company focused on
the discovery, development and commercialization of first-in-class
cancer therapeutics. Avalon�s lead product candidate, AVN944,�an
IMPDH inhibitor, is in Phase II clinical development. Avalon also
has preclinical programs to develop inhibitors of the Beta-catenin
and Aurora/Centrosome pathways,�discovery programs�for�inhibitors
of�the Survivin�and Myc�pathways and partnerships with Merck,
MedImmune, ChemDiv, Medarex, and Novartis. AvalonRx� is the
company�s proprietary platform�which is based
on�large-scale�biomarker identification and monitoring, used to
discover and develop therapeutics for pathways that have
historically been characterized as "undruggable." Avalon is
headquartered in Germantown, MD. Safe Harbor Statement This
announcement contains, in addition to historical information,
certain forward-looking statements that involve risks and
uncertainties. Such statements reflect the current views of Avalon
management and are based on certain assumptions. Actual results
could differ materially from those currently anticipated as a
result of a number of factors, risks and uncertainties, including
those specified under the �Risk Factors� section of our 2006 Annual
Report on Form 10-K and updates contained in subsequent filings we
make with the Securities and Exchange Commission.
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