Worthy Start of the Year for Biotech Companies

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Jan 20, 2017, 08:02 ET

NEW YORK, January 20, 2017 /PRNewswire/ --

http://www.Financialbuzz.com - According to World Health Organization, cancer is one of leading causes of death worldwide. There were 8.2 million cancer related deaths in 2012. Although the number of cancer related deaths increased gradually over time, the death rates have declined since 1990. Rising in incidence rate of various cancers continues to drive demand of biological therapies for cancer. According to a research report by Global Market Insights, Inc. cancer biological therapy market size was USD 61.3 billion in 2015 and it is expected to reach USD 100 billion by 2023, at upwards of 6% growth from 2016 to 2023. Hemispherx BioPharma Inc. (NYSE: HEB), Celgene Corporation (NASDAQ: CELG), Halozyme Therapeutics Inc. (NASDAQ: HALO), Merrimack Pharmaceuticals Inc. (NASDAQ: MACK), FibroGen Inc. (NASDAQ: FGEN).

The research also indicated that rising cancer incidence rates and mounting global geriatric population contributed to the rapid growth of cancer biological therapy market. According to WHO, the number of new cases is expected to rise by about 70% over the next 2 decades. Increasing use of tobacco and alcohol is the main factor that causes cancer. In addition, elderly population is vulnerable to cancer, 86% of cases in the U.S. were recorded in individuals aged 50 and above, according to American Cancer Society.

Hemispherx BioPharma, Inc. (NYSE: HEB) is a specialty pharmaceutical company. The Company is engaged in the clinical development of drug therapies based on natural immune system enhancing technologies for the treatment of viral and immune based chronic disorders. The Company's segment is engaged in research and development activities related to Ampligen and other drugs under development, and sales and marketing of Alferon. Another product in the company's pipeline is Rintatolimod

On January 11^th Hemispherx BioPharma announced that the "Rintatolimod European early access program (EAP) designed to enable access of the compound to ME/CFS patients has been extended to pancreatic cancer patients beginning in the Netherlands. The first patient was dosed and several other patients are in the queue to receive Rintatolimod. MyTomorrows, Hemispherx' exclusive service provider in Europe and Turkey, will manage all EAP activities relating to the extension in addition to its existing activities regarding early access use in chronic fatigue syndrome patients."

Thomas Equels, CEO of Hemispherx, "Pancreatic cancer patients generally have a poor prognosis and few therapeutic options. The cancer is commonly diagnosed at an advanced stage with a five-year survival rate of roughly only seven percent for all pancreatic cancer patients… We are happy to be able to expand our EAP to a patient population for this devastating malignancy with such a clearly unmet medical need."

American biotechnology company that discovers, develops and commercializes medicines for cancer and inflammatory disorders, Celgene Corporation (NASDAQ: CELG) Chief Executive Officer, Mark J. Alles had recently highlighted the company's pipeline opportunities and various partnerships which the company could significantly expand its Abraxane franchise for solid tumor cancers, directing to several lung cancer trials in combination with new immune-oncology drugs. Alles believes Abraxane could eventually help cure certain subsets of early-stage pancreatic cancer. Abraxane is a prescription medicine used to treat advanced pancreatic cancer, when used in combination with gemcitabine, as the first medicine patients receive for advanced pancreatic cancer. Abraxane is a chemotherapy, which helps patients control or slow the spread of cancer cells.

Clinical-stage biotechnology company focused on developing and commercializing novel cancer therapies that target the tumor microenvironment, Halozyme Therapeutics Inc. (NASDAQ: HALO) recently reported solid phase 2 results for its pancreatic cancer drug. President and Chief Executive Officer of Halozyme, Dr. Helen Torley confirmed that patients who take the pancreatic cancer drug, PEGPH20, were able to improve time of cancer progression, see a statistically noteworthy change and also a decrease in the rate of blood clots. "These findings confirm our confidence in the development of PEGPH20 in this difficult to treat cancer," said Dr. Helen Torley. "We are pleased by the overall consistency of both the efficacy and safety data which are supportive of our ongoing Phase 3 clinical trial, HALO 301, currently underway at more than 160 sites worldwide."

Merrimack Pharmaceuticals Inc. (NASDAQ: MACK) is a biopharmaceutical company, engages in discovering, developing and commercializing medicines consisting of novel therapeutics paired with diagnostics for the treatment of cancer primarily in the United States. The company offers ONIVYDE that is used for the treatment of patients with metastatic adenocarcinoma of the pancreas after disease progression following gemcitabine-based therapy. Its therapeutic oncology candidates in clinical development include MM-398, which is in Phase II clinical trials for the treatment of patients with previously untreated, metastatic pancreatic adenocarcinoma.

Research-based biopharmaceutical company, FibroGen Inc. (NASDAQ: FGEN) is engaged in the discovery, development and commercialization of novel therapeutics to treat serious unmet medical needs. Its lead product candidate is roxadustat (FG-4592). It is also engaged in developing products, such as FG-6874, FG-3019 and FG-5200. FG-4592 is an oral small molecule inhibitor of hypoxia-inducible factor-prolyl hydroxylases, which acts by stimulating the body's natural pathway of erythropoiesis or red blood cell production. FG-4592 is in Phase III clinical development for the treatment of anemia in chronic kidney disease. FG-3019 is a monoclonal antibody, which is in Phase II clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, Duchenne muscular dystrophy and liver fibrosis. FG-6874 is in Phase I clinical trials, and FG-5200 is a corneal implant medical device, which is in preclinical studies.

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