LAUREATE PHARMA AND BRADMER PHARMACEUTICALS ANNOUNCE AGREEMENT ON BRAIN CANCER TREATMENT PRODUCT
LAUREATE PHARMA AND BRADMER PHARMACEUTICALS ANNOUNCE THEIR DEVELOPMENT AND MANUFACTURING AGREEMENT ON A THERAPEUTIC MONOCLONAL ANTIBODY PRODUCT FOR TREATMENT OF BRAIN CANCER
Princeton, NJ - March 16, 2006 – Laureate Pharma, Inc.
announced today that it has entered into a biopharmaceutical development
and manufacturing agreement with Bradmer Pharmaceuticals Inc. for process
development and cGMP manufacture of the monoclonal antibody precursor of
Neuradiab, Bradmer's anticipated multi-center clinical candidate for treatment
of brain cancer. The project is well underway and Laureate expects to supply
Bradmer with product by the end of 2006. Terms of the agreement were not disclosed.
"We are excited to apply our experience and expertise in monoclonal antibody
development and production to Bradmer's important new clinical candidate for
patients that suffer from brain cancer," said Robert J. Broeze, Ph.D.,
President and Chief Executive Officer of Laureate Pharma. "Our relationship
with the management of Bradmer and its potential new cancer therapy Neuradiab
meets our strategic objective of working with innovative partners and products."
Neuradiab is a monoclonal antibody, conjugated to radioactive iodine, used to
treat glioblastoma multiforme (GBM), the most common and deadly form of brain
cancer. Neuradiab delivers tumor-killing radiation specifically to residual brain
tumor cells after surgery, with minimal impact on normal brain tissue. To date,
6 clinical trials have been completed involving over 160 GBM cancer patients.
In a recent Phase II trial of newly diagnosed GBM patients Neuradiab, used in
combination with the current standard therapy, extended median survival by 42%
to 91 weeks compared with 64 weeks for a historical control group. Bradmer intends
to initiate a multi-center clinical trial at the leading U.S. GBM treatment sites
across the country in late 2006 or early in the first quarter of 2007.
"Neuradiab has been evaluated in multiple Phase I and Phase II trials conducted
by Duke University for the treatment of glioblastoma multiforme. Over 160 patients
have safely received Neuradiab treatment and the results have clearly demonstrated
the important clinical benefit of this product," said Mark C. Rogers, M.D.,
Chief Executive Officer of Bradmer. "Our partnership with Laureate Pharma is a
crucial step in our manufacturing strategy and our plans to initiate a multi-center
clinical trial over the next year."
About Laureate Pharma
Laureate Pharma is a full service biopharmaceutical development and protein
production company located in Princeton, NJ. The company is dedicated to supporting
the development and commercialization of pharmaceutical products for pharmaceutical
and biopharmaceutical companies. Laureate Pharma provides a wide range of specialized
product development services from process design and development to full-scale cGMP
production, purification and aseptic filling, as well as corresponding testing,
validation, analytical services and regulatory support. Laureate is focused on two
active segments of the biopharmaceutical industry: monoclonal antibodies and
recombinant protein products. Mammalian cells are grown in stirred-tank or hollow-fiber
bioreactors for production of biopharmaceutical proteins, which are purified by
state-of-the-art semi-automated chromatography systems and filled into vials under
stringent aseptic conditions. Laureate Pharma, Inc. is a wholly owned partner company
of Safeguard Scientifics (NYSE: SFE). For more information
on Laureate Pharma, please contact Michael Cavanaugh, Vice President Sales, Marketing, and
Business Development at (609) 919-3400,
by email at info@laureatepharma.com
or visit www.laureatepharma.com.
Bradmer Pharmaceuticals (TSX Venture: BMR) is a biotechnology company focused on
the development and commercialization of new and innovative cancer therapies.
BradmerŐs lead clinical candidate, Neuradiab, was developed at Duke University
Medical Center as a proprietary therapy for a particularly aggressive form of brain cancer.
To date, the treatment has been used in over 160 patients with excellent results and has
completed a Phase II clinical trial conducted by researchers at Duke University.
Bradmer is currently in the process of organizing a multi-center clinical trial of
the licensed treatment.
The statements contained in this news release that are not historical facts are forward
looking statements which involve certain risks and uncertainties including, but not limited to,
the ability of the company to complete the sale of the aforementioned business unit, the timing
of the sales, and other uncertainties as described in the company's filings with the Securities
and Exchange Commission. The company does not assume any obligation to update any forward
looking statements or other information contained in this news release.
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