Arno Therapeutics Completes License Agreements for the Exclusive Rights to Novel, Targeted Cancer Compounds

Jan 28, 2008, 00:00 ET from Arno Therapeutics, Inc.

    FAIRFIELD, N.J., Jan. 28 /PRNewswire/ -- Arno Therapeutics, Inc., a
 privately held drug development company, announced that it has entered into
 worldwide, exclusive license agreements with The Ohio State University
 ("OSU") for the rights to commercially develop novel, orally available,
 targeted therapies for cancer.
     Pursuant to the license agreements, Arno acquired the rights to several
 small molecules for the treatment of cancer, including OSU-03012 (NSC
 D728209) and OSU-HDAC42 (NSC D736012). Both agents were developed by
 Ching-Shih Chen, Ph.D., a professor of pharmacy and internal medicine at
 Ohio State and a researcher in OSU's Comprehensive Cancer Center.
     OSU-03012 is a PDK-1 inhibitor that targets the Akt pathway, and also
 possesses activity in alternate pathways to target apoptosis and
 angiogenesis. Preclinical data have demonstrated activity in multiple tumor
 types and synergistic activity with other agents including Avastin(R),
 Herceptin(R), Tarceva(R), Gleevec(R) and tamoxifen.
     OSU-HDAC42 is a broad spectrum histone-deacetylase inhibitor which
 possesses additional mechanisms as well. In preclinical studies OSU-HDAC42
 has demonstrated greater potency and a competitive profile in solid and
 liquid tumors when compared with vorinostat (SAHA), the leading marketed
 compound in the class.
     "We are extremely pleased to be developing these two exciting and novel
 molecules for the treatment of cancer patients," said Scott Z. Fields,
 M.D., President and CMO of Arno. "We look forward to moving these molecules
 into the clinic and to hopefully bringing their benefits to patients who
 need them as soon as possible."
     "The out-licensing of these two very important molecularly targeted
 oncology compounds to Arno Therapeutics is a significant milestone for Ohio
 State," said Dr. Michael Caligiuri, director of the Ohio State University
 Comprehensive Cancer Center and CEO of The James Cancer Hospital and Solove
 Research Institute. "These are the first two molecules for cancer treatment
 created entirely at OSU that will be brought into the cancer clinic."
     Pursuant to the terms of the license agreement, Arno will pay
 development based milestones and royalties based on sales of the licensed
     Arno plans to initiate Phase I clinical trials for both OSU-03012 and
 OSU- HDAC42 in 2009.
     About Arno Therapeutics, Inc.
     Arno Therapeutics is a biopharmaceutical company that develops and
 commercializes innovative products for the treatment of cancer patients.
 Arno is initially focusing its efforts on developing its lead compound,
 DB-67, a novel anti-cancer agent. DB-67 is a third generation campthothecin
 analogue that has demonstrated high potency and significantly improved
 pharmacokinetic properties as demonstrated by greater stability of the
 active lactone form in pre-clinical studies as compared with
 second-generation products. Arno is currently enrolling patients in a Phase
 I clinical trial. A key component of the Company's strategy is to acquire
 global rights to additional product candidates for the treatment of cancer
 while continuing to use its technology to develop and commercialize new
 products and line extensions. For more information on Arno please visit
Contact: Scott Z. Fields, M.D. President and CMO Arno Therapeutics, Inc. (862) 703-7170 This news release contains forward-looking statements that involve risks and uncertainties that could cause our actual results and experiences to differ materially from anticipated results and expectations expressed in such forward-looking statement. These statements are based on our current beliefs and expectations as to such future outcomes. Drug discovery and development involve a high degree of risk. Factors that might cause such a material difference include, among others, uncertainties related to the ability to attract and retain partners for our technologies, the identification of lead compounds, the successful preclinical development thereof, the completion of clinical trials, the FDA review process and other governmental regulation, our pharmaceutical collaborator's ability to successfully develop and commercialize drug candidates, competition from other pharmaceutical companies, and product pricing and third party reimbursement. We undertake no obligation to update any forward-looking statement contained in this press release, except as required by law.

SOURCE Arno Therapeutics, Inc.