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
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
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.