TORONTO, Sept. 2, 2014 /PRNewswire/ - Lorus Therapeutics
Inc. (TSX: LOR) (the "Company"), a clinical-stage company
developing new therapeutics and molecular diagnostics that target
the underlying mechanisms of cancer, today announced that it has
changed its name to "Aptose Biosciences Inc."
The Company's name change reflects its new focus
and clinical-stage pipeline strategy, as an oncology research and
development organization advancing new therapeutics and molecular
diagnostics based on insights into the genetic profiles of certain
cancers and patient populations. The Company's lead product,
APTO-253 (formerly LOR-253) exerts its antitumor effects by
activating a key apoptotic pathway in tumor cells. The term
"apoptosis" represents the innate self-killing capacity of cells
triggered upon the onset of cellular damage, and cancer cells
employ various mechanisms to avoid apoptosis. For these reasons,
"apoptosis" is the intuitive root of the name of "Aptose
Biosciences." In addition, the Company's stated goal with respect
to the name change is to align the product portfolio and product
development with the strategic course set by its new management
team.
"Aptose will be guided by the underlying
scientific mechanisms and clinical expertise necessary to develop
important new anticancer therapeutics. Our efforts will be
further fortified by the application of new molecular diagnostic
tools customized to our pipeline programs," said William G. Rice, Ph.D., Chairman, President and
Chief Executive Officer. "Today, with the support of our
Board and voting shareholders, the Company is dedicated to
developing APTO-253 with the opportunity to contribute to the
treatment of AML and other serious hematologic cancers, as well as
advancing select earlier stage programs."
The Board of Directors and the shareholders of
the Company approved the name change. The Toronto Stock
Exchange also conditionally approved the name change and it is
expected that the common shares of the Company will commence
trading on the Toronto Stock Exchange under the new name and the
trading symbol "APS" on or about September 3, 2014.
About APTO-253
APTO-253 is a novel small molecule that has
demonstrated potent anti-tumor activity in cancer cells via tumor
suppressor induction leading to cell cycle inhibition and
programmed cell death. APTO-253 has been shown to induce the
tumor suppressor gene Krüppel like factor 4 (KLF4) and expression
of p21, resulting in cell cycle arrest and apoptosis.
Nonclinical pharmacology studies have demonstrated in vivo
anti-tumor activity in solid tumors and hematologic cancers.
Aptose has completed a Phase 1 study in patients with
advanced or metastatic solid tumors in which promising clinical
activity was observed.
A vast majority of patients with acute myeloid
leukemia (AML) exhibit down-regulation of KLF4 expression, which is
directly associated with leukemogenic events, or the onset of
leukemia. In addition to AML, a similar function for KLF4 as
a tumor suppressor factor has been reported in adult T-cell
leukemia, lymphoma, multiple myeloma and high-risk MDS.
Induction of KLF4 expression may therefore be an effective
therapeutic option in these patient populations. Aptose is
planning to commence a Phase 1b clinical study with escalating
doses of APTO-253 followed by two disease-specific expansions
planned in adults with hematologic malignancies in 2014.
About the Company
The Company is a clinical-stage biotechnology
company committed to discovering and developing personalized
therapies addressing unmet medical needs in oncology. The
Company is advancing new therapeutics focused on novel cellular
targets on the leading edge of cancer research coupled with
companion diagnostics to identify the optimal patient population
for our products. The Company's small molecule cancer therapeutics
pipeline includes products designed to provide additive or
synergistic efficacy with existing anti-cancer therapies and
regimens without overlapping toxicities.
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of Canadian and U.S. securities laws
including regarding the Name Change. Such statements include, but
are not limited to, statements relating to the Company's plans,
objectives, expectations and intentions and other statements
including words such as "continue", "expect", "intend", "will",
"should", "would", "may", and other similar expressions. Such
statements reflect our current views with respect to future events
and are subject to risks and uncertainties and are necessarily
based upon a number of estimates and assumptions that, while
considered reasonable by us are inherently subject to significant
business, economic, competitive, political and social uncertainties
and contingencies. Many factors could cause our actual results,
performance or achievements to be materially different from any
future results, performance or achievements described in this press
release. Such expressed or implied forward looking statements could
include, among others: our ability to obtain the capital required
for research and operations; the inherent risks in early stage drug
development including demonstrating efficacy; development time/cost
and the regulatory approval process; the progress of our clinical
trials; our ability to find and enter into agreements with
potential partners; our ability to attract and retain key
personnel; changing market conditions; and other risks detailed
from time-to-time in our ongoing quarterly filings, annual
information forms, annual reports and annual filings with Canadian
securities regulators and the United
States Securities and Exchange Commission.
Should one or more of these risks or
uncertainties materialize, or should the assumptions set out in the
section entitled "Risk Factors" in our filings with Canadian
securities regulators and the United States Securities and Exchange
Commission underlying those forward-looking statements prove
incorrect, actual results may vary materially from those described
herein. These forward-looking statements are made as of the date of
this press release and we do not intend, and do not assume any
obligation, to update these forward-looking statements, except as
required by law. We cannot assure you that such statements will
prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements.
Investors are cautioned that forward-looking statements are not
guarantees of future performance and accordingly investors are
cautioned not to put undue reliance on forward-looking statements
due to the inherent uncertainty therein.
SOURCE Lorus Therapeutics Inc.