EWING, N.J., Oct. 27, 2015 /PRNewswire/ -- Celator Pharmaceuticals, Inc. (Nasdaq: CPXX) today announced that VYXEOS™ (formerly referred to as CPX-351) was recognized with the Nanomedicine Award 2015. This award recognizes projects or products that have been developed using innovative solutions based on nanotechnology.
The Nanomedicine Award 2015 honors the best international nanomedicine innovations in two categories; (1) Best Nanomedicine Early Clinical Stage Project Award, and (2) Best Nanomedicine Product or Deal Award.
VYXEOS was selected in the category of the Best Nanomedicine Product or Deal Award. The international program is organized by the European Technology Platform for Nanomedicine (ETPN) together with the consortium Enabling Nanomedicine Translation (ENATRANS). A panel of pharmaceutical industry specialists with global experience in research and development, as well as commercial roles, reviewed the applications and selected VYXEOS.
Dr. Lawrence Mayer, President and Chief Scientific Officer of Celator will accept the award on behalf of the company at BIO-Europe 2015 in Munich, Germany on November 3, 2015. Dr. Mayer was also invited to give a presentation on VYXEOS at the award ceremony.
"We are honored to receive this award as recognition of the impact VYXEOS has made to date, and the potential to become the first product to significantly improve survival of AML patients in over 40 years," said Dr. Mayer. "VYXEOS represents a validation of the CombiPlex approach which uses nano-scale carriers to coordinate the delivery of synergistic drug ratios to cancer cells. We are applying our nanotechnology-based approaches to traditional cytotoxics as well as an array of molecularly targeted agents with the hope of increasing their therapeutic benefit and changing the paradigm of combination therapy for cancer."
The objective of the Nanomedicine Award 2015 is to recognize innovative product developments in nanomedicine and to promote these advances, and the field of nanotechnology, within the international biotechnology and pharmaceutical community. To be selected products must:
- Address unmet medical needs
- Not be feasible without nanotechnology
- Be distinct from the "standard approaches" such as new chemical entities/small molecules and biologics
- Have a clearly defined market
About VYXEOS™ (CPX-351)
Celator's Phase 3 study comparing VYXEOS to the current standard of care, known as 7+3, is being conducted in patients with high-risk (secondary) AML. The Phase 3 study completed enrollment in November 2014. Initial data, from a secondary endpoint, showed an improvement in induction response rate in favor of VYXEOS over the 7+3 control arm: 47.7% versus 33.3% respectively, for a 43.2% relative improvement. The study's primary endpoint, overall survival, is expected to be reported in the first quarter of 2016 along with important safety information.
About Celator Pharmaceuticals, Inc.
Celator Pharmaceuticals, Inc., with locations in Ewing, N.J., and Vancouver, B.C., is a clinical stage biopharmaceutical company that is transforming the science of combination therapy, and developing products to improve patient outcomes in cancer. Celator's proprietary technology platform, CombiPlex®, enables the rational design and rapid evaluation of optimized combinations incorporating traditional chemotherapies as well as molecularly targeted agents to deliver enhanced anti-cancer activity. CombiPlex addresses several fundamental shortcomings of conventional combination regimens, as well as the challenges inherent in combination drug development, by identifying the most effective synergistic molar ratio of the drugs being combined in vitro, and fixing this ratio in a nano-scale drug delivery complex to maintain the optimized combination after administration and ensure its exposure to the tumor. Celator's pipeline includes lead product, VYXEOS™ (CPX-351), a liposomal formulation of cytarabine:daunorubicin being studied for the treatment of acute myeloid leukemia; CPX-1, a liposomal formulation of irinotecan:floxuridine being studied for the treatment of colorectal cancer; and a preclinical stage product candidate, CPX-8, a hydrophobic docetaxel prodrug nanoparticle formulation, being studied by the National Cancer Institute's Nanotechnology Characterization Laboratory. The company is advancing the CombiPlex platform and broadening its application to include molecularly targeted therapies. The company is seeking research and development collaborations, applying its proprietary technologies, with other biotechnology/pharmaceutical companies.
To the extent that statements contained in this press release are not descriptions of historical facts regarding Celator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect," "anticipate," "estimate," "intend," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Examples of forward-looking statements contained in this press release include, among others, statements regarding the safety, potential efficacy and therapeutic potential of VYXEOS™ (CPX-351), the availability of data from clinical studies, and our expectations regarding our research and development programs. Forward-looking statements in this release involve substantial risks and uncertainties that could cause our clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the conduct of clinical studies, whether clinical study results obtained to date will be predictive of future results, whether the final results of our clinical studies will be supportive of regulatory approval to market VYXEOS, availability of data from ongoing clinical studies and other matters that could affect the commercial potential of our drug candidates. Celator undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company in general, see Celator's Form 10-K for the year ended December 31, 2014 and other filings by the company with the U.S. Securities and Exchange Commission.
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SOURCE Celator Pharmaceuticals, Inc.