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Celgene (CELG) Acquisition of The Leukemia & Lymphoma Society Partner, Avila Therapeutics, Significant Advance for Novel Blood Cancer Therapy



1/27/2012 10:59:41 AM

WHITE PLAINS, N.Y., Jan. 26, 2012 /PRNewswire/ -- Thanks to funding from The Leukemia & Lymphoma Society (LLS), Avila Therapeutics, Inc. has been testing AVL-292, a highly selective Bruton's tyrosine kinsase (Btk) inhibitor in Phase I clinical trials.

(Logo: http://photos.prnewswire.com/prnh/20110215/NY48642LOGO )

LLS's goal in establishing its collaboration with Avila in 2010 was to help accelerate the development of AVL-292 as a treatment for patients with B-cell blood cancers. Today's announcement that Celgene Corporation has acquired Avila Therapeutics is an important advance in the development of AVL-292 and for the patients who stand to benefit from it.

"We've been impressed by the speed with which Avila has been able to advance the Btk covalent drug program to this point in development, as patients with B-cell cancers need new treatment options," said Louis DeGennaro, Ph.D., LLS's chief mission officer. "Today's announcement placing these important resources within Celgene's successful development program gives us tremendous confidence that the full potential of this impactful research will be met. LLS's goal is to bridge the drug development gap and bring promising therapies to the next level of funding and today's news is a perfect example of this goal in action."

"Celgene is dedicated to working closely with organizations like the LLS, as we accelerate the development of promising new therapies for patients in need," said Joseph Camardo, M.D., Celgene's senior vice president, Global Medical Affairs. "We are very excited at the promise that AVL-292 holds for patients with difficult to treat blood cancers."

About The Leukemia & Lymphoma Society

The Leukemia & Lymphoma Society ® (LLS) is the world's largest voluntary health agency dedicated to blood cancer. The LLS mission: Cure leukemia, lymphoma, Hodgkin's disease and myeloma, and improve the quality of life of patients and their families. LLS funds lifesaving blood cancer research around the world and provides free information and support services.

Founded in 1949 and headquartered in White Plains, NY, LLS has chapters throughout the United States and Canada. To learn more, visit www.LLS.org or contact the Information Resource Center at (800) 955-4572, Monday through Friday, 9 a.m. to 6 p.m. ET. www.lls.org.

Andrea Greif
(914) 821-8958
andrea.greif@lls.org

SOURCE The Leukemia & Lymphoma Society


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