ROCKVILLE, Md., July 13 /PRNewswire-FirstCall/ -- EntreMed, Inc. (Nasdaq: ENMD), a clinical-stage biopharmaceutical company developing therapeutics primarily for the treatment of cancer, today announced that it has entered into a Clinical Supply Agreement with Elan Drug Delivery, Inc. to reformulate and manufacture EntreMed's Panzem(R) in an oral liquid product format. This supply of reformulated Panzem(R) will support EntreMed's clinical oncology program that is planned to begin in early 2005. Elan is manufacturing the reformulated Panzem(R) using its proprietary NanoCrystal(R) technology that enhances product bioavailability and absorption and produces particles that are fifty times smaller than conventional processes. A number of products using NanoCrystal(R) technology have been commercialized successfully, including Wyeth's Rapmune(R) and Merck's Emend(R). (Logo: http://www.newscom.com/cgi-bin/prnh/20010620/ENMDLOGO ) EntreMed President and Chief Executive Officer James S. Burns commented, "We remain on schedule with our plan to initiate clinical trials with reformulated Panzem(R) in cancer patients in early 2005. Using Elan's NanoCrystal(R) technology, we believe we have developed a robust formulation of Panzem(R) that will improve product bioavailability and provide patients with a convenient orally administrated liquid product. EntreMed and Elan are working together closely to ensure that internal timelines continue to be met." About EntreMed EntreMed, Inc. (Nasdaq: ENMD) is a clinical-stage biopharmaceutical company developing therapeutic candidates primarily for the treatment of cancer. Panzem(R), the Company's lead drug candidate, is currently in clinical trials for cancer, as well as in discovery and preclinical development for indications outside of oncology. EntreMed's research and development programs are designed to identify new chemical entities by understanding the interrelationships of cell cycle regulation, inflammation, coagulation and angiogenesis -- processes vital to the treatment of multiple diseases, including cancer. These programs have led to the identification of new therapeutic targets such as inhibition of the tissue factor pathway and the proteinase-activated receptor-2 (PAR-2). Based on these targets, EntreMed scientists are designing additional drug candidates for in-house development or partnering opportunities. For further information, visit the Company's website at http://www.entremed.com. About Elan's NanoCrystal Technology NanoCrystal technology may enhance the clinical performance of poorly water-soluble drugs by transforming them into nanometer-sized particles. An increasing number of the drug candidates synthesized each year by pharmaceutical companies are poorly water-soluble. Many of these potentially innovative drug candidates are often abandoned because of poor pharmacokinetic properties including absorption, distribution, metabolism, and excretion. NanoCrystal technology has the potential to rescue a significant percentage of these chemical compounds. The drug in nano-form can be incorporated into common dosage forms, including tablets, capsules, inhalation devices, sterile forms for injection, with the potential for substantial improvements to clinical performance. There are currently two pharmaceutical products that have been commercialized incorporating NanoCrystal technology, with several additional product launches anticipated over the next two years. The NanoCrystal technology is protected by 85 issued U.S. patents and 48 pending patents. More information about Elan's technologies including its NanoCrystal technology is available at http://www.elan.com/DrugDelivery About Elan Elan Drug Delivery Inc. is an indirect wholly-owned subsidiary of Elan Corporation, plc, which is a neuroscience-based biotechnology company that is focused on discovering, developing, manufacturing and marketing advanced therapies in neurology, autoimmune diseases, and severe pain. Elan (NYSE: ELN) shares trade on the New York, London and Dublin Stock Exchanges. For further information, visit the Company's website at http://www.elan.com. Forward Looking Statements This release contains, and other statements that EntreMed may make may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for expectations for future financial or business performance, strategies, expectations and goals. Forward-looking statements are typically identified by words or phrases such as "believe," "feel," "expect," "anticipate," "intend," "outlook," "estimate," "target," "assume," "goal," "objective," "plan," "remain," "seek," "trend," and variations of such words and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "might," "can," "may," or similar expressions. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and EntreMed assumes no duty to update forward-looking statements. Actual results could differ materially from those currently anticipated due to a number of factors, including those set forth in EntreMed's Securities and Exchange Commission filings under "Risk Factors," including risks relating to EntreMed's need for additional capital and the uncertainty of additional funding; the early-stage products under development; uncertainties relating to clinical trials; our success in optimizing Panzem(R) for further clinical development; dependence on third parties; future capital needs; and risks relating to the commercialization, if any, of the Company's proposed products (such as marketing, safety, regulatory, patent, product liability, supply, competition and other risks). CONTACT: Amy Finan, Senior Director, Corporate, Communications & Industry Relations of EntreMed, Inc., +1-240-864-2640
SOURCE EntreMed, Inc.