News Releases

Printer friendly version

Protox signs exclusive Lung Cancer licence agreement and initiates Lung Cancer study

Tuesday, August 9, 2005 - Vancouver, British Columbia - Protox Therapeutics Inc. announced today that it has signed an exclusive licence agreement with the National Research Council Institute for Biological Sciences (NRC-IBS) and the University of Victoria (UVic) Innovation and Development Corporation (IDC). The licence grants Protox exclusive worldwide rights to commercialize antibody targeted PORxin™ (formerly known as Aerolysin) for the treatment of non-small cell lung cancer (NSCLC). The financial terms of the agreement include an upfront fee as well as milestone and royalty payments. Protox had earlier reported the exercise of an option agreement on April 5, 2005.

"The licence enables us to develop a proprietary antibody targeted toxin for non- small cell lung cancer, a disease for which existing therapeutics have made little significant impact on overall survival. Together with our lead product for prostate cancer, PORxin™ 302 (formerly known as PSA-PAH1), we are exploiting the PORxin™ platform to create products to treat two of the most common cancer indications", said Dr. Fahar Merchant, President & CEO of the Company.

"By effectively 'weaponizing' the antibody using our PORxin™ platform, we hope to localize a potent toxin at the tumour site thereby reducing the side effects normally associated with conventional chemotherapies. Success with this approach has the potential to open numerous development and partnering opportunities with antibody companies to selectively target cancers over- expressing membrane bound tumour specific biomarkers", added Dr. Merchant.

The Company also announced today that it has initiated a preliminary non-small cell lung cancer study with PORxin™ antibody fusion constructs at the BC Cancer Agency. As reported earlier, this lung cancer project has received a financial contribution of up to $340,000 from the National Research Council (NRC) Industrial Research Assistance Program (IRAP).

ABOUT NON-SMALL CELL LUNG CANCER

In the United States alone more than 173,000 new cases of lung cancer were diagnosed in 2004 and approximately 164,000 men and women died of this condition. It has the highest mortality rate of any of the cancers and its incidence in women is increasing. Of this category approximately 80% of the patients had non-small cell lung cancer. Current treatments include surgery, radiation and drug therapy alone or in combination. The median survival of patients with advanced non-small cell lung cancer treated with the most commonly used chemotherapeutic regimens is only 7.8 months.

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 Innovation and Development Corporation (IDC) at the University of Victoria?one of Canada's leading research universities?was critical in facilitating the transfer of the PORxin™ technology and it is a shareholder in Protox. IDC's mandate is to move research and innovations into both the public and private sector, through partnerships, licensing of technologies, and the formation of new spin-off companies. Since 1992, IDC has helped found 37 new companies, based on UVic research or UVic student entrepreneurial initiatives. In addition to Protox, these include BC businesses producing vaccine and diagnostic solutions for aquaculture, secure electronic forms, environmentally safe herbicides, laboratory information management systems, and technology to design disease resistant plants and crops.

ABOUT BC CANCER AGENCY

The BC Cancer Agency, an agency of the Provincial Health Services Authority, is committed to reducing the incidence of cancer, reducing the mortality from cancer, and improving the quality of life of those living with cancer. It provides a comprehensive cancer control program for the people of British Columbia by working with community partners to deliver a range of oncology services, including prevention, early detection, diagnosis and treatment, research, education, supportive care, rehabilitation and palliative care. The BC Cancer Research Centre conducts research into the causes and cures for cancer.

ABOUT PROTOX:

Protox Therapeutics Inc. is developing novel therapeutics for the treatment of cancer and other indications by engineering the naturally occurring bacterial toxins such as Aerolysin, which kills cells by forming pores in them ("PORxin™ platform"). The Company believes that its engineering approach will produce targeted therapeutics that may have greater efficacy and fewer side effects than existing treatments.

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