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Protox exercises Lung Cancer Licence option with the NRC Institute for
Biological Sciences and with the University of Victoria
Tuesday, April 5th, 2005 - Vancouver, British Columbia - Protox Therapeutics Inc.
('Protox' or the 'Company') announced today that it has exercised its option for an
exclusive licence agreement with the National Research Council of Canada's Institute
for Biological Sciences (NRC-IBS) and the University of Victoria (UVic) Innovation
and Development Corporation (IDC). When finalized, the licence will grant Protox
exclusive worldwide rights to commercialize a genetically modified Aerolysin- antibody construct
developed by the research institutions as a targeted therapy for
the treatment of non-small-cell lung cancer. The specific terms of the final
agreement are expected to include the payment of an upfront licensing fee as well as
milestone and royalty payments. Negotiations to complete the final licence
agreement are currently underway.
"The licencing agreement is the next step in our strategy to link Aerolysin with an
antibody in order to develop our product pipeline, as well as to generate partnering
opportunities with antibody companies." said Tazdin Esmail, President & CEO of the
Company. "The in vitro work completed to date has been very encouraging and we
are moving forward to begin in vivo testing of the therapeutic."
Protox is working with the Antibody Engineering research group at NRC-IBS in order
to link Aerolysin to a single domain antibody that binds to lung cancer cells. Protox
also intends to pursue other targets, by linking Aerolysin to antibodies specific to
other forms of cancer such as Non-Hodgkin's lymphoma and breast cancer.
About the NRC Institute for Biological Sciences: The NRC Institute for Biological
Sciences in Ottawa is a team of leading life sciences researchers who are committed
to making breakthrough discoveries in immunochemistry and neurobiology and
moving subsequent technologies into the marketplace. Within the NRC, the Antibody
Engineering group's goals are the design and development of novel antibodies for
use as diagnostic and therapeutic agents.
About IDC: The University of Victoria Innovation and Development Corporation is
responsible for commercializing technology developed at UVic. The University of
Victoria is a leading Canadian research university. IDC was critical in facilitating the
commercialization of the Aerolysin technology and it is a shareholder in Protox.
About Protox: Protox Therapeutics Inc. is developing novel cancer therapeutics
based on modified proteins engineered from the naturally occurring bacterial toxin
Aerolysin. These modified Aerolysin proteins have demonstrated the ability to
selectively target and kill cancer cells. The Company believes that its targeted
approach may produce cancer therapeutics that have greater efficacy and fewer side
effects than existing cancer treatments.
Protox also announced today that as part of the agreement previously announced on
October 25, 2004, in which Protox acquired exclusive worldwide rights to
commercialize a genetically modified Aerolysin protein developed by the research
institutions as a targeted therapy for the treatment of prostate cancer, it has issued
common shares of the Company to the following:
Johns Hopkins University - 115,612 shares
The University of Victoria - 88,932 shares
Dr. Sam Denmeade (JHU) - 31,126 shares
Dr. John Isaacs (JHU) - 31,126 shares
As per TSX-venture exchange rules, these shares are subject to a four month hold
period which expires July 31, 2005.
For more information, contact:
Terry Vanderkruyk
Director, Investor Relations, Protox Therapeutics Inc.
Tel: 604-688-4376
Cell: 604-789-0844
Fax: 604-688-0173
tvanderkruyk@protoxtherapeutics.com
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