CAMBRIDGE, Mass., Feb. 27, 2014 /PRNewswire/ -- Epizyme, Inc. (NASDAQ: EPZM), a clinical stage biopharmaceutical company creating innovative personalized therapeutics for patients with genetically defined cancers, today announced the achievement of the lead candidate selection milestone for one of the histone methyltransferase (HMT) targets in the company's collaboration with GSK. This achievement triggers a milestone payment of $2 million and follows the announcement in January 2014 of the achievement of a development candidate milestone for another of the HMT targets in the collaboration, which earned Epizyme a $4 million milestone payment.
"Epizyme is a leader in the translation of the science of epigenetics into innovative personalized therapeutics for cancer patients," said Robert Copeland, Ph.D., Executive Vice President and Chief Scientific Officer, Epizyme. "This milestone reflects the power of our product platform to rapidly move from biological insights to novel therapeutic candidates."
"Our collaborations with leading pharmaceutical companies are an integral part of Epizyme's business strategy as we build an independent biopharmaceutical company that discovers, develops, and commercializes personalized therapeutics for cancer patients," said Jason Rhodes, President and Chief Financial Officer, Epizyme.
About Epizyme, Inc. Epizyme, Inc. is a clinical stage biopharmaceutical company creating personalized therapeutics for patients with genetically defined cancers. Epizyme has built a proprietary product platform that the company uses to create small molecule inhibitors of a 96-member class of enzymes known as histone methyltransferases, or HMTs. HMTs are part of the system of gene regulation, referred to as epigenetics, that controls gene expression. Genetic alterations can result in changes to the activity of HMTs, making them oncogenic (cancer-causing). By focusing on the genetic drivers of cancers, Epizyme's targeted science seeks to match the right medicines with the right patients for a personalized approach to cancer treatment.
Cautionary Note on Forward-Looking Statements Any statements in this press release about future expectations, plans and prospects for the Company, including statements about the Company's strategy, future operations, development of the Company's therapeutic candidates, and future expectations and plans and prospects for the Company and other statements containing the words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties inherent in the initiation of future clinical trials, expectations of expanding ongoing clinical trials, availability and timing of data from ongoing clinical trials, expectations for regulatory approvals, development progress of the Company's companion diagnostics, availability of funding sufficient for the Company's foreseeable and unforeseeable operating expenses and capital expenditure requirements, other matters that could affect the availability or commercial potential of the Company's therapeutic candidates or companion diagnostics and other factors discussed in the "Risk Factors" section of the Company's Registration Statement on Form S-1 filed with the Securities and Exchange Commission on January 28, 2014, as amended. In addition, the forward-looking statements included in this press release represent the Company's views as of the date hereof. The Company anticipates that subsequent events and developments will cause the Company's views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date hereof.
SOURCE Epizyme, Inc.