SGX Pharmaceuticals Provides Update on SGX523 Clinical Trials
March 27 2008 - 6:00AM
PR Newswire (US)
Company Presents Today at BioCentury Future Leaders Conference SAN
DIEGO, March 27 /PRNewswire-FirstCall/ -- SGX Pharmaceuticals
(NASDAQ:SGXP) is providing an update today on the SGX523 clinical
program. In January 2008, the Company initiated two parallel,
multi-center Phase 1 clinical trials of SGX523 in patients with
solid tumor cancers. The first trial has been designed to examine
twice daily, oral dosing on a continuous 28-day cycle and the
second trial has been designed to examine interrupted dosing (a
repeating 21 day cycle of 14 days on therapy followed by 7 days
off). In both trials, the Company observed dose limiting toxicity
earlier than anticipated. The toxicity is of a nature that was not
anticipated based on the preclinical profile of SGX523. The
interrupted dosing trial started at a higher dose than the
continuous dosing trial and no patients are currently receiving
treatment on the interrupted dosing trial. In the continuous dosing
trial, patients are continuing to be treated at a lower dose level,
and the Company is evaluating the safety and efficacy of treatment
at that dose level. "From the initial clinical data, the profile of
SGX523 appears to be different than the preclinical data would
suggest," said Mike Grey, president and chief executive officer of
SGX Pharmaceuticals. "On the continuous dosing trial, patients
continue on study at the initial dose and we may explore whether
alternative doses and schedules are safe and efficacious. We
continue the preclinical development of the BCR-ABL inhibitor
SGX393 and the second MET inhibitor SGX126. In addition, we are
targeting the identification of two development candidates this
year from our drug discovery programs to further enhance our
pipeline." Mr. Grey will be updating the investor community at 9:00
A.M. Eastern Daylight Time today at the BioCentury Future Leaders
in the Biotech Industry Conference at the Millennium Broadway Hotel
and Conference Center in New York City. A live webcast of the
presentation will be available under the investor relations section
of the Company's website at http://www.sgxpharma.com/. The Company
filed its Form 10-K today and a copy can be found at
http://www.sec.gov/. About SGX Pharmaceuticals SGX Pharmaceuticals
is a biotechnology company focused on the discovery, development
and commercialization of innovative cancer therapeutics. The SGX
oncology pipeline includes drug candidates from its FAST(TM) drug
discovery platform, such as SGX523, a MET kinase inhibitor
currently in Phase 1 clinical studies, next generation BCR-ABL
inhibitors being developed by SGX and in partnership with Novartis
and a portfolio of inhibitors of various oncology targets. More
information on the pipeline and drug discovery platform can be
found at http://www.sgxpharma.com/ and in the Company's various
filings with the Securities and Exchange Commission. Forward
Looking Statements Statements in this press release that are not
strictly historical in nature are forward-looking statements. These
statements include, but are not limited to, statements related to
the Company's MET program, including the safety and efficacy
profile and status of the clinical trials of SGX523, the
advancement of the Company's drug development and discovery
pipeline, the Company's ability to identify development candidates
from its drug discovery programs and the potential of the Company's
inhibitors as treatments for certain cancers. These statements are
only predictions based on current information and expectations and
involve a number of risks and uncertainties. Actual events or
results may differ materially from those projected in any of such
statements due to various factors, including the risks and
uncertainties inherent in drug discovery, development and
commercialization, which include, without limitation, the potential
failure of development candidates to advance through preclinical
studies or demonstrate safety and efficacy in clinical testing and
the ability to file INDs or commence IND enabling activities or
preclinical or clinical studies in the referenced time frames. The
results of early preclinical studies or clinical trials may not be
predictive of future results, and the Company cannot provide any
assurances that any of its compounds or development candidates will
have favorable results in preclinical studies or clinical trials.
For a discussion of these and other factors, please refer to the
risk factors described in the Company's annual report on Form 10-K
for the year ended December 31, 2007, as well as other filings with
the Securities and Exchange Commission. You are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date hereof. This caution is made under the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. All forward-looking statements are qualified in their
entirety by this cautionary statement and SGX undertakes no
obligation to revise or update this press release to reflect events
or circumstances after the date hereof. DATASOURCE: SGX
Pharmaceuticals CONTACT: Bonnie Feldman, Sr. Director, Investor
Relations and Corporate Communications, +1-858-344-8860, or Todd
Myers, Chief Financial Officer, +1-858-558-4850, both of SGX
Pharmaceuticals Web site: http://www.sgxpharma.com/
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