SGX Pharmaceuticals Submits Investigational New Drug Application for SGX393
June 30 2008 - 7:00AM
PR Newswire (US)
SAN DIEGO, June 30 /PRNewswire-FirstCall/ -- SGX Pharmaceuticals
(NASDAQ:SGXP) today announced that it has submitted an
investigational new drug (IND) application to the U.S. Food and
Drug Administration for SGX393. This compound is an internally
developed, selective, orally-bioavailable small molecule for the
treatment of relapsed and refractory chronic myelogenous leukemia
(CML). The standard of care for CML is Gleevec(R). Although Gleevec
is a highly effective front-line therapy for CML, there are
patients who relapse while on Gleevec or who are intolerant to the
therapy. In the majority of cases, relapses have been linked to the
emergence of a number of drug-resistant mutant forms of the
tyrosine kinase BCR-ABL. The single mutant that has been the most
challenging to inhibit is the T315I mutant. Neither Gleevec nor the
two more recently approved CML treatments, Sprycel(R) and
Tasigna(R), inhibit the T315I mutant. SGX393 inhibits both
wild-type BCR-ABL and many drug resistant mutant forms of BCR-ABL,
including the T315I mutation. "Filing of this IND submission
represents another testament to our internal capabilities. We
continue to focus on moving our discovery and development programs
forward," said Mike Grey, CEO of SGX Pharmaceuticals. About SGX393
SGX393 was discovered by SGX utilizing FAST(TM), its fragment based
approach to drug discovery. SGX393 initially fell within the
purview of the Company's collaboration with the Novartis Institute
for Biomedical Research (Novartis). SGX obtained the right to
further develop and commercialize SGX393 following an amendment to
its agreement with Novartis that was signed in September 2007, and
it is subject to a reacquisition right of Novartis which may be
exercisable at a future date. About SGX Pharmaceuticals SGX
Pharmaceuticals, Inc. is a biotechnology company focused on the
discovery, development and commercialization of novel, targeted
therapeutics directed at addressing unmet medical needs in
oncology. The Company's drug development programs target the MET
receptor tyrosine kinase, an enzyme implicated in a broad array of
cancers, and the BCR-ABL tyrosine kinase enzyme for the treatment
of CML. The Company's drug discovery activities are focused on a
portfolio of other protein and enzyme targets that have been
implicated in human cancers, including JAK2, RON, ALK, RAS and
IKKe. 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, the
potential of SGX393 as a treatment for CML, and the ability of the
company to discover, develop and commercialize cancer therapeutics.
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. 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 future clinical trials or that the FDA will approve the
commencement of 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, the Company's quarterly report on Form 10-Q for the three
months ended March 31, 2008, 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, Inc. CONTACT: Bonnie Feldman, Senior Director of
Investor Relations of SGX Pharmaceuticals, Inc., +1-858-344-8860
Web site: http://www.sgxpharma.com/
Copyright
Sgx Pharmaceuticals (MM) (NASDAQ:SGXP)
Historical Stock Chart
From May 2024 to Jun 2024
Sgx Pharmaceuticals (MM) (NASDAQ:SGXP)
Historical Stock Chart
From Jun 2023 to Jun 2024