VentiRx Pharmaceuticals Provides Corporate and Clinical Update

SEATTLE, Sept. 2, 2014 /PRNewswire/ -- VentiRx Pharmaceuticals, Inc., a clinical stage biopharmaceutical company committed to the development and commercialization of novel Toll-like receptor 8 (TLR8) immunotherapies, today announced an update on corporate and clinical activities at the company including management structure, commitment for future funding, ongoing clinical trials and future clinical development efforts.

In corporate news, Chief Executive Officer Robert Hershberg, M.D., Ph.D. recently joined Celgene Corporation to lead research and early development efforts in immuno-oncology and the newly formed Celgene Immuno-Oncology Center of Excellence to be based in Seattle. Dr. Hershberg will remain President and CEO of VentiRx at a reduced time commitment. Further, VentiRx announced the promotion of Kathleen Fanning, former Vice President, Business Development and Alliance Management at VentiRx, to the newly created role of Chief Operating Officer.

In other corporate news, an undisclosed equity investment was secured by Frazier, Arch, Domain, MedImmune and Celgene Corporation (NASDAQ: CELG). VentiRx plans to use these additional funds for the development of the company's lead investigational agent, motolimod (VTX-2337). In October 2012, VentiRx entered into an exclusive, world-wide collaboration with Celgene for the development of motolimod. Under the collaboration agreement, Celgene has the exclusive option to acquire VentiRx upon the company's achievement of pre-specified clinical milestones from ongoing Phase 2 studies in ovarian and head and neck cancer, respectively.

Clinical Progress

VentiRx continues to advance development of its investigational immuno-oncology agent, motolimod, a novel Toll-like Receptor 8 (TLR8) agonist that directly activates multiple components of the innate immune system.

Enrollment of more than 290 patients has been completed in the GOG-3003 randomized, placebo-controlled Phase 2 trial of motolimod in combination with Pegylated Liposomal Doxorubicin (PLD) in patients with recurrent or persistent epithelial ovarian, fallopian tube or primary peritoneal cancer who have failed prior platinum-based chemotherapy. The study is being performed in collaboration with the Gynecologic Oncology Group (GOG) Partners Program. The primary endpoint of the study is overall survival.

In April, the U.S. Food and Drug Administration (FDA) granted Orphan Drug designation to motolimod for the treatment of ovarian cancer.

A second, company-sponsored, randomized, Phase 2 placebo-controlled trial, called Active8, (NCT01836029) is enrolling patients with locally advanced and metastatic squamous cell carcinoma of the head and neck at more than 50 sites in the United States. The study is evaluating motolimod in combination with cetuximab and chemotherapy. The primary endpoint of the trial is progression-free survival.

About VentiRx Pharmaceuticals

VentiRx Pharmaceuticals Inc. is a clinical stage biopharmaceutical company committed to the development and commercialization of novel Toll-like receptor 8 (TLR8) immunotherapies for the treatment of cancer, respiratory and inflammatory diseases. The company's lead product candidate is motolimod (VTX-2337), a small molecule TLR8 agonist for the treatment of cancer. VentiRx is a privately held organization based in Seattle, Washington. For additional information, please visit www.ventirx.com.

Contact:

Katie Fanning
Chief Operating Officer
(206) 973-1586
[email protected]

Julie Rathbun
Rathbun Communications
[email protected] 
(206) 769-9219

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SOURCE VentiRx Pharmaceuticals, Inc.