Kinex Pharmaceuticals Allowed to Proceed to Phase 1 Trials for KX2-391

Jul 20, 2007, 01:00 ET from Kinex Pharmaceuticals

    BUFFALO, N.Y., July 20 /PRNewswire/ -- Kinex Pharmaceuticals was
 notified today, by the U.S. Food and Drug Administration, that its
 Investigational New Drug, KX2-391, can proceed into Phase 1 Clinical
     "The rapid progress we have made in advancing this novel compound into
 human trials is extraordinary," said Dr. Allen Barnett, Chief Executive
 Officer of Kinex Pharmaceuticals. Barnett, a pharmaceutical industry
 veteran who played key roles in the development of four marketed drugs,
 including two blockbusters, further added that, "This is a very dynamic
 time for Kinex as we continue to transition from a Drug Discovery company
 into a vertically integrated Discovery/Development organization. We have
 successfully navigated KX2-391 through the IND process, and have positioned
 the company to continue to develop the necessary pipeline to go public in
 the next few years."
     Phase 1 trials on KX2-391 will begin at two prominent U.S. Cancer
 Centers, in September 2007 in patients with lymphoma or solid tumors. The
 goal of these studies is to generate human safety data and to look at
 potential efficacy using biomarkers.
     KX2-391 is an orally active Src kinase inhibitor with excellent
 bioavailability. It is a first-in-class drug because it is the first
 non-ATP competitive kinase inhibitor to enter human trials, thereby
 providing a highly selective mechanism of action that should have a
 decreased likelihood of inducing resistance in patients. Src kinase is a
 key regulator of tumor growth, tumor vascularization and metastasis. In
 pre-clinical animal models, KX2-391 inhibits the growth of both primary
 tumors and metastasis. The compound is a potent inhibitor of a wide range
 of human tumor cells, including cells that are resistant to currently
 available cancer therapies.
     About Kinex Pharmaceuticals
     Kinex Pharmaceuticals is a biopharmaceutical company focused on the
 discovery and development of novel non-ATP competitive small molecule
 inhibitors for therapeutically relevant tyrosine kinases and phosphatases.
 Mimetica(TM), the Company's platform discovery technology is used to design
 and synthesize orally bioavailable small molecules that are highly
 selective for their target. This technology was originally developed in the
 laboratory of Dr. David Hangauer at the University of Buffalo; Kinex has an
 exclusive world-wide license to Mimetica(TM) and to early compounds which
 formed the basis for the KX2-391 development program.
     In addition to KX2-391, Kinex is currently developing Src inhibitors
 for ophthalmic indications and hearing loss. Discovery programs are focused
 on the use of Mimetica(TM) and the Company's compound libraries to identify
 lead compounds for cancer and other medical conditions where unmet medical
 needs exist.
     Forward-Looking Statements
     This press release may contain forward-looking statements that involve
 substantial risks and uncertainties. Kinex may not actually achieve the
 plans, intentions or expectations contained in such forward-looking
 statements. Actual results or events could differ materially from plans,
 intentions and expectations contained in such forward-looking statements.
 Kinex does not assume any obligation to update any such forward-looking
 statements. For further information on Kinex Pharmaceuticals, please visit or contact Lyn M. Dyster, Ph.D., Vice President
 of Operations at 716.881.8984

SOURCE Kinex Pharmaceuticals