FRANKFURT, GERMANY--(MARKET WIRE)--May 6, 2009 -- Ergomed announced today that it has signed an agreement with Genzyme Corporation on the co-development of tasidotin, a novel dolastatin analogue that has shown efficacy signals and a good safety profile in previous oncology clinical trials.
As part of the agreement, Ergomed will advance the oral formulation of tasidotin, developed by Genzyme, into clinical trials. In an earlier Phase II clinical trial sponsored by Genzyme, the intravenous formulation of tasidotin demonstrated clinical activity in patients with melanoma. Tasidotin's mechanism of action is believed to inhibit cell proliferation by suppressing spindle microtubule dynamics through a reduction of the shortening rate; reduction of the switching frequency from growth to shortening; and reduction of the time microtubules grow.
"Tasidotin has a promising future with established human clinical safety and a solid rationale for efficacy against particular cancers," said Dr. Miroslav Reljanovic, Chief Executive Officer of Ergomed. "We are delighted to have signed our second development license agreement in line with our stated strategy for Ergomed's Product Development Division to assist both biotechnology and pharmaceutical partners in the successful clinical development of drug candidates."
"We are pleased to be advancing the tasidotin development program with Ergomed as our partner," said Mark Enyedy, president of Genzyme Oncology and Multiple Sclerosis. "Genzyme and Ergomed have established a long and successful relationship in Multiple Sclerosis and CLL studies and we look forward to extending our collaboration to draw upon Ergomed's strong expertise in oncology clinical development."
The Ergomed Group offers clinical development services for the biotechnology and pharmaceutical industry specializing in therapeutics for oncology, neurology and immunology. Ergomed also engages in shared risk ventures through co-development agreements. With its infrastructure in Western and Eastern Europe, the Middle East and the USA, Ergomed offers cost effective and efficient drug development.
This is the second co-development deal that Ergomed has completed and is in addition to the ongoing Phase II partnership with Paion in cancer pain.
ERGOMED is a specialised international clinical development company offering contract clinical research and co-development partnerships to biotechnology and pharmaceutical companies worldwide in the fields of neurology, oncology and immunology. Ergomed's approach to clinical research ensures effective patient recruitment, reducing the time and costs of clinical trials and complementing the drug discovery capabilities of its customers and partners. The Company has a dual business model offering standard clinical trial management contracts and also co-development partnerships to share the risks and rewards of clinical development. Ergomed is headquartered in Frankfurt, Germany, and also has offices in UK, Russia, Croatia, Poland, Spain, UAE, Serbia and the USA. The collaboration with Genzyme Corporation represents the second co-development agreement that Ergomed has entered. The first is a collaboration with Paion regarding a novel NDMA receptor antagonist (CNS 5161) for the treatment of neuropathic pain and cancer pain. The companies recently reported positive data from a Phase IIa study in opioid refractory cancer pain. For further information visit www.ergomed-cro.com.
For further information please contact:
Dr. Miroslav Reljanovic
t: +385 (0)1 4628503
t: +49 89 210 228 0