Chromos Reports Preclinical Data in Support of CHR-1103 as an Acute Therapy for Relapse Associated with Multiple Sclerosis
BURNABY, BC, January 25, 2007 /PRNewswire-FirstCall/ - Chromos Molecular Systems Inc. ("Chromos") announced today the publication of a paper entitled "Modulation of Experimental Autoimmune Encephalomyelitis by VLA-2 Blockade" in the peer-reviewed scientific journal, Brain Pathology. This paper, authored in collaboration with Dr. Robert Fujinami of the University of Utah School of Medicine, demonstrates that a monoclonal antibody directed against VLA-2, the target for Chromos' lead product candidate CHR-1103, can suppress the clinical and pathological signs of disease in a relevant animal model of multiple sclerosis (MS). In addition, the publication validates VLA-2 as a potential target for early therapeutic intervention in the treatment of MS. This data represents a significant milestone in the development of CHR-1103 as an acute treatment for relapses associated with MS.
"We are very pleased with the release of this data as it represents the culmination of a tremendous body of work in support of the development of CHR-1103 as an acute treatment for MS relapse," said Alistair Duncan, President and CEO. "Currently, there are no FDA approved therapies for MS patients suffering from a relapse. CHR-1103 represents a promising new approach for the treatment of MS relapse and disease compared to the existing portfolio of chronically administered treatments."
CHR-1103 is a humanized monoclonal antibody being developed as a broad-based anti-inflammatory agent, with an initial focus on the treatment of acute relapses associated with MS. Unlike therapeutics designed to delay or antagonize the initial stages of inflammation, CHR-1103 is designed to reduce and prevent the accumulation of inflammatory cells within inflamed tissues. This distinction, i.e., the targeting of ongoing inflammation with CHR-1103, may provide a significant advantage for the acute treatment of inflammatory conditions and/or diseases.
Chromos completed its first meeting with officials from the U.S. Food and Drug Administration (FDA) for CHR-1103 in Q3 2006. The two parties discussed Chromos' clinical approach, proposed preclinical safety evaluation program and manufacture of CHR-1103. Chromos is now moving forward with preclinical safety evaluation studies in preparation for an Investigational New Drug (IND) application in Q4 2007.
Chromos is a biopharmaceutical company with two drug development programs focused on inflammatory diseases and thrombotic disorders. The Company's lead program, CHR-1103, is a humanized monoclonal antibody being developed as a treatment with an initial focus on the treatment of acute relapses associated with multiple sclerosis (MS). Chromos generates revenue from its proprietary ACE System technology to engineer production quality cell lines to manufacture biopharmaceutical products including monoclonal antibodies. For more information visit our website at www.chromos.com.
Risks and Uncertainties
Certain of the statements contained in this press release are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Chromos (the "Company"), or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
To the extent possible, management implements strategies to reduce or mitigate the risks and uncertainties associated with the Company's operations. Operating risks include (i) the continued availability of capital to finance the Company's activities; (ii) the Company's limited cash position; (iii) the ability to successfully obtain proof of the effectiveness of the Company's technology; (iv) the ability to complete and maintain corporate alliances relating to the development and commercialization of the Company's technology; (v) the ability to obtain and enforce patent and other intellectual property protection for the Company's technology; (vi) market acceptance of the Company's technology; (vii) the competitive environment and impact of technological change; (viii) the Company's ability to attract and retain employees to carry out its business plans; (ix) the timely development and commercialization of any technology or products that are contingent on the completion and maintenance of corporate alliances with third parties and (x) regulatory approval for the conversion of the outstanding Notes. Further details on Chromos' operating risks can be found in the Company's Quarterly and Annual Reports to Shareholders.
CONTACT: Jeff Charpentier, Vice President, Finance and CFO, Tel: (604) 415-7132, , Website: www.chromos.com; To update your contact information or to be removed from this dissemination list, please e-mail Email:email@example.com firstname.lastname@example.org
CONTACT: Jeff Charpentier, Vice President, Finance and CFO, Tel: (604)415-7132, , Website: www.chromos.com; Toupdate your contact information or to be removed from this disseminationlist, please e-mail Email:email@example.com firstname.lastname@example.org
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Posted: January 2007