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Algeta ASA (NO) - Algeta to present on the preparation and use of Alpharadin in a clinical setting at the 52nd ASTRO annual meeting

Oslo, Norway, 1 November 2010 - Algeta ASA (OSE: ALGETA), the focused oncology company, will present a new analysis based on clinical experience with Alpharadin from its phase I and phase II programs at the 52nd annual meeting of the American Society for Radiation Oncology (ASTRO), in San Diego, USA (31 October-4 November). The Company will also describe the radiation safety profile of Alpharadin established from these studies.

 

Alpharadin (radium-223 chloride) is being developed by Algeta and Bayer Schering Pharma AG and is in a global phase III clinical trial (ALSYMPCA) to treat bone metastases resulting from castration-resistant prostate cancer (CRPC). The primary endpoint of the Phase III trial is overall survival. Alpharadin is a first-in-class alpha-pharmaceutical that in Phase II trials showed a statistically significant improvement in overall survival compared to placebo, a consistent improvement in disease-related biomarkers and pain, and a favorable side-effect profile.

 

Details of the presentation are as follows, and copies will be available from www.algeta.com<http://www.algeta.com/> post the session at which it will be presented:

 

Poster title

 

Clinical Experience and Radiation Safety of the First-in-Class Alpha-Pharmaceutical, Alpharadin(TM) (radium-223) in Patients with Castration-Resistant Prostate Cancer (CRPC) and Bone Metastases

 

Presented by: Professor Sten Nilsson (Karolinska Hospital, Stockholm, Sweden).

 

Poster Viewing Session II

Tuesday, 2 November, 10:00 am - 6:45 pm (Pacific time)

Wednesday, 3 November, 10:00 am - 2:30 pm (Pacific time)

Location: San Diego Convention Center

 

 

 

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For further information, please contact:

 

For Algeta:

 

 

 

Andrew Kay, CEO

Gillies O'Bryan-Tear, CMO

Øystein Soug, CFO

 

+47 2300 7990 / +47 4840 1360 (mob)

+47 23 00 7824 / +47 4804 1411 (mob)

+47 2300 7990 / +47 9065 6525 (mob)

post@algeta.com

 

International media enquiries:

Mark Swallow/David Dible

Citigate Dewe Rogerson

 

+44 207 638 9571

mark.swallow@citigatedr.co.uk

US investor enquiries:

Jessica Lloyd

The Trout Group

 

+1 646 378 2928

jlloyd@troutgroup.com

 

About Algeta

 

Algeta is a focused oncology company developing novel targeted therapies for patients with cancer based on its alpha-pharmaceutical platform.

 

Algeta's lead product Alpharadin (based on radium-223) is a first-in-class, highly targeted alpha-pharmaceutical under clinical evaluation to improve survival in patients with bone metastases from advanced cancer. Its localized action helps preserve the surrounding healthy tissue thereby limiting side-effects.

 

The development of bone metastases represents a serious development for cancer patients as they are associated with a dramatic decline in patient health and quality of life, ultimately leading to death. Bone metastases represent a major unmet medical need, occurring in up to 90% of certain late-stage cancers, e.g. prostate, breast and lung.

 

Alpharadin is being developed under a development and commercialization agreement with Bayer Schering Pharma AG, a major pharmaceutical company, and is in a global phase III clinical trial (ALSYMPCA) to treat bone metastases resulting from castration-resistant prostate cancer (CRPC). Alpharadin is also under investigation in phase II clinical trials as a potential new treatment for bone metastases in endocrine-refractory breast cancer patients, and in a phase I/IIa trial in combination with docetaxel chemotherapy in for bone metastases CRPC patients.

 

Algeta also aims to develop a future pipeline of tumor-targeting alpha-pharmaceutical candidates based on the alpha particle emitter thorium-227, through selective in-licensing and/or acquiring innovative technologies and tumor-targeting molecules.

 

The Company is headquartered in Oslo, Norway, and was founded in 1997. Algeta listed on the Oslo Stock Exchange in March 2007 (Ticker: ALGETA).

 

Alpharadin and Algeta are trademarks of Algeta ASA.

 

Forward-looking Statement

This news release contains forward-looking statements and forecasts based on uncertainty, since they relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on results of operations and the financial condition of Algeta. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. Theses factors include, among other things, risks associated with technological development, the risk that research & development will not yield new products that achieve commercial success, the impact of competition, the ability to close viable and profitable business deals, the risk of non-approval of patents not yet granted and difficulties of obtaining relevant governmental approvals for new products.

 

 

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This information is subject of the disclosure requirements acc. to ?-12 vphl (Norwegian Securities Trading Act)

 

Press release<http://hugin.info/134655/R/1457244/397103.pdf>

Posted: November 2010

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