Celtaxsys Acquires Clinical Stage Innate Immunity Drug for Inflammation

SAN FRANCISCO, Jan. 5, 2012 /PRNewswire/ -- Celtaxsys, Inc. a privately held biotechnology company, announced today that it has acquired CTX-4430 (formerly EP-501), a clinical stage drug candidate that inhibits the pro-inflammatory enzyme Leukotriene A4 Hydrolase (LTA4H), from Estrellita Pharmaceuticals, Inc.

In preclinical studies, CTX-4430 has demonstrated the ability to safely and effectively reduce the progression of chronic inflammation in several animal models. LTA4H is a key enzyme in the production of the major pro-inflammatory mediator Leukotriene B4 (LTB4).  LTA4H and receptors to LTB4 are known to be elevated in a number of human lung diseases including Cystic Fibrosis, Asthma and Chronic Obstructive Pulmonary Disease (COPD). Additionally, elevated levels of LTA4H recently have been located at active demyelinating lesions in the brains of patients with Multiple Sclerosis (MS). Thus, CTX-4430 has the potential to be a first-in-class oral treatment for multiple indications with unmet clinical need.

"The acquisition of CTX-4430 and the entire LTA4H project gives us several unique opportunities to introduce superior products to fulfill unmet medical needs" said Dr. Michael R. Hanley, Chief Executive Officer of Celtaxsys. "The addition of the LTA4H project to our development portfolio fits perfectly with our core business of modulating innate immunity to treat chronic inflammatory disorders, especially in our major areas of interest, Cystic Fibrosis and Multiple Sclerosis."

William Guilford, President of Estrellita, stated, "We are very pleased to conclude this transaction with Celtaxsys who will continue the development of CTX-4430. Celtaxsys' management has a proven track record of successfully developing value-added therapies for important indications, with particular strength in the field of inflammation and therefore is an ideal choice to move CTX-4430 through the clinic and onto the market."

About Celtaxsys

Celtaxsys is a privately held biotechnology company focused on the discovery, development, and commercialization of innovative pharmaceutical products for the treatment of inflammatory and autoimmune diseases. Celtaxsys was founded in 2005 as an early stage drug discovery company specializing in innate immune response and the Company's platform is designed to capture the synergy between three key scientific areas of discovery: Innate Immunity; The Neutrophil; and the treatment of Inflammatory Disease. Celtaxsys has offices in San Francisco, California and Atlanta, Georgia. For more information and corporate background, please visit www.celtaxsys.com.

About Estrellita

Estrellita is a privately held San Francisco Bay Area company that acquired the rights to the small molecule LTA4H inhibitor, EP-501, from a major pharmaceutical company. The company, led by Dr. William Guilford, was developing the novel orally-available drug as a potential safe and effective treatment for a wide range of chronic inflammatory diseases.

Forward Looking Statements

Statements included in this press release that are not a description of historical facts may be forward looking statements.  The inclusion of forward looking statements should not be regarded as a representation by Celtaxsys that any of its plans will be achieved.  Actual results may differ materially from those anticipated or set forth in this press release due to the risks and uncertainties inherent in Celtaxsys's business including, without limitation, statements about difficulties or delays in developing, obtaining regulatory approval, manufacturing and commercializing its products, unexpected performance or side effects of its products, the scope and validity of its products' patent protection, competition from other companies and its ability to obtain additional financing to support its operations.  All forward looking statements are qualified in their entirety by this statement and Celtaxsys undertakes no obligation to revise or update this press release to reflect events or circumstances occurring after the date hereof.

SOURCE Celtaxsys, Inc.