Corgentech Announces Presentation of 3268 Phase 3 Data at 2006 Pediatric Academic Societies' Annual Meeting
April 28 2006 - 8:30AM
PR Newswire (US)
SOUTH SAN FRANCISCO, Calif., April 28 /PRNewswire-FirstCall/ --
Corgentech Inc. (NASDAQ:CGTK) today announced that data from a
Phase 3 trial of 3268, a fast-acting local anesthetic aimed at
reducing pain associated with venipunctures and intravenous line
placements will be presented during the 2006 Pediatric Academic
Societies' (PAS) annual meeting being held April 29- May 2, 2006,
at the Moscone Convention Center in San Francisco, CA. Details on
the presentation are as follows: Sunday, April 30, 2006 PAS
Platform Session: Emergency Medicine, Room 3014, 8:00 - 10:00 a.m.
Podium Presentation: ALGRX 3268 Produces Local Analgesia Within 1
to 3 Minutes for Venipuncture and Peripheral Venous Cannulation
Procedures in Children Presenter: Elliot Krane, M.D., Professor,
Anesthesiology and Pediatrics, Stanford School of Medicine,
Stanford University, and Director, Pain Management Service, Lucile
Packard Children's Hospital at Stanford About 3268 and the Market
Opportunity for a Fast-Acting Local Anesthetic 3268 represents a
near-term product opportunity for which an NDA is expected to be
filed in mid-2006. Two Phase 3 studies have shown 3268 to
significantly reduce the pain associated with venous access
procedures in children. 3268 is a needlefree system that delivers
lidocaine powder into the epidermis and provides analgesia in one
to three minutes after administration. The product, which may be
especially useful in pediatric populations and emergency room
settings, is easy to use and its rapid onset allows for
uninterrupted care offering an important advantage over currently
available therapies. Local anesthetics for venipunctures and
intravenous line placements are an underserved market. Currently,
in the largest children's hospitals and academic institutions in
the United States, approximately 18 million venipunctures and
intravenous line placements occur each year in pediatric patients
alone. Of these, topical local anesthetics are used in only
approximately 2.1 million of these procedures given that the
currently marketed products are inconvenient, requiring up to 60
minutes to offer benefit, limiting their routine use. With its
rapid onset-of-action, additional opportunities exist for 3268 in
the adult hospital setting, hemodialysis and blood donation centers
as well as physicians' offices and clinical laboratories. About
Corgentech Corgentech is a late-stage biopharmaceutical company
which seeks to be the leader in the development and
commercialization of novel therapeutic treatments for pain. The
company has four drug candidates in clinical development for
multiple potential indications, the most advanced of which, 3268,
has completed Phase 3 clinical trials. Corgentech is based in South
San Francisco, CA. Forward Looking Statements This press release
includes "forward-looking statements" within the meaning of the
safe harbor provisions of the United States Private Securities
Litigation Reform Act of 1995. Words such as "expect," "estimate,"
"project," "budget," "forecast," "anticipate," "intend," "plan,"
"may," "will," "could," "should," "believes," "predicts,"
"potential," "continue," and similar expressions are intended to
identify such forward-looking statements. Forward- looking
statements in this press release include, without limitation,
projected timing of FDA filings and clinical data announcements and
other matters that involve known and unknown risks, uncertainties
and other factors that may cause actual results, levels of
activity, performance or achievements to differ materially from
results expressed or implied by this press release. Such risk
factors include, among others: whether Corgentech can successfully
develop new products and the degree to which these gain market
acceptance. Actual results may differ materially from those
contained in the forward- looking statements in this press release.
Additional information concerning these and other risk factors is
contained in Corgentech's Annual Report on Form 10-K for the year
ended December 31, 2005. Corgentech undertakes no obligation and
does not intend to update these forward-looking statements to
reflect events or circumstances occurring after this press release.
You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. All forward-looking statements are qualified in
their entirety by this cautionary statement. DATASOURCE: Corgentech
Inc. CONTACT: Richard Powers, Chief Financial Officer of Corgentech
Inc., +1-650-624-9600, or ; or media, Daryl Messinger of WeissComm
Partners, +1-415-999-2361, or , for Corgentech Inc. Web site:
http://www.corgentech.com/
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