Coley Pharmaceutical Group Receives $3.0 Million Milestone Payment from GlaxoSmithKline
26 Octubre 2007 - 10:34AM
PR Newswire (US)
WELLESLEY, Mass., Oct. 26 /PRNewswire-FirstCall/ -- Coley
Pharmaceutical Group, Inc. (NASDAQ:COLY), today announced that the
company has received a $3.0 million milestone payment from
GlaxoSmithKline (GSK) associated with the initiation of GSK's Phase
III clinical trial in non-small cell lung cancer (NSCLC) of an
immunotherapeutic cancer vaccine containing Coley's VaxImmune(TM)
vaccine adjuvant. In June 2007, GSK announced the launch of the
largest Phase III clinical trial in lung cancer to evaluate the
MAGE-A3 Antigen-Specific Cancer Immunotherapeutic (MAGE-A3 ASCI) in
patients with early stage, completely resected NSCLC. VaxImmune is
one of the components of MAGE-A3 ASCI, intended to increase an
anti-tumor immune response. The randomized, double-blind, and
placebo-controlled Phase III clinical trial, known as the MAGRIT
trial (MAGE- A3 as Adjuvant Non-Small Cell Lung Cancer
Immunotherapy) will target enrollment of about 2,270 patients with
stage IB, II or IIIA resectable NSCLC. The primary endpoint of the
trial is disease-free survival. The $3 million development
milestone was triggered by the initiation of this Phase III trial.
VaxImmune is Coley's proprietary TLR9 agonist designed to induce
both an enhanced antibody response and a potent killer T cell
immune response when used in conjunction with vaccines in order to
achieve and sustain a clinical response without compromising
safety. Coley has granted GSK worldwide licenses for the use of
VaxImmune in GSK's vaccines in development for certain cancers and
infectious diseases. About Coley Pharmaceutical Group Coley
Pharmaceutical Group, Inc. is an international biopharmaceutical
company, headquartered in Wellesley, Massachusetts, USA, that
discovers and develops TLR Therapeutics(TM), a new class of
investigational drug candidates that direct the human immune system
to fight cancers, asthma and allergy and to enhance the
effectiveness of vaccines. Coley has established a pipeline of TLR
Therapeutic product candidates currently advancing through clinical
development either independently or with partners, and has
additional product candidates in preclinical development. Coley has
product development, research and license agreements with Pfizer,
sanofi-aventis, GlaxoSmithKline, Merck, Novartis and the United
States government. For further information on Coley Pharmaceutical
Group please visit http://www.coleypharma.com/. Safe Harbor
Statement Certain statements in this news release concerning
Coley's business are considered "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Any or all of the forward-looking statements in this press
release may turn out to be wrong. They can be affected by
inaccurate assumptions Coley might make or by known or unknown
risks and uncertainties, including, but not limited to: the early
stage of product development; uncertainties as to the future
success of ongoing and planned clinical trials; the risk that
results from early stage clinical trials may not be indicative of
results in later stage trials; the unproven safety and efficacy of
products under development; intellectual property rights and
litigation; competitive products; and other risks identified in
Coley's filings with the Securities and Exchange Commission
including, but not limited to, Coley's Annual Report on Form 10-K
for the fiscal year ended December 31, 2006. Consequently, no
forward-looking statement can be guaranteed, and actual results may
vary materially. Coley undertakes no obligation to publicly update
forward-looking statements, whether because of new information,
future events or otherwise, except as required by applicable law.
DATASOURCE: Coley Pharmaceutical Group, Inc. CONTACT: Susan Hager,
Senior Director of Investor Relations and Corporate Communications
of Coley Pharmaceutical Group, Inc., +1-781-431-9019, ; Media,
Karen L. Bergman, +1-650-575-1509, , or Michelle Corral,
+1-415-794-8662, , both of BCC Partners for Coley Pharmaceutical
Group, Inc. Web site: http://www.coleypharma.com/
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