SAN DIEGO, CA--(Marketwire - December 03, 2012) - Lpath, Inc. (NASDAQ: LPTN), the industry leader in bioactive lipid-targeted therapeutics, ranked eighth among biotechnology and pharmaceutical companies and 60th overall on the 2012 Technology Fast 500™, Deloitte's ranking of 500 of the fastest growing life sciences, technology, media, telecommunications and clean technology companies in North America.
"The 2012 Deloitte Technology Fast 500 winners have demonstrated remarkable innovation and spectacular growth," said Eric Openshaw, vice chairman and U.S. technology, media and telecommunications leader, Deloitte LLP. "Some of the most exciting and useful developments of the future are being created by the companies on this list. We congratulate Lpath and all of the winning companies on this impressive achievement."
Scott Pancoast, Lpath's president and chief executive officer, commented: "These rankings are a validation of our unique antibody drug-discovery engine and our dominating intellectual property. Our platform produces novel therapeutics that address significant market opportunities where there is a clear clinical need. The rankings also reflect our ability to attract financial and strategic partners such as Pfizer, J&J, Biogen Idec, and Merck-Serono, as well as the NIH and the Department of Defense."
Utilizing its ImmuneY2™ drug-discovery engine, Lpath has developed several first-in-class therapeutic antibodies. Each of these antibodies are designed to target bioactive signaling lipids, such as S1P (sphingosine-1-phosphate) and LPA (lysophosphatidic acid), that are involved in the proliferation and spread of neuropathic pain, wet AMD, inflammatory and auto-immune disorders, cancer, and many other diseases.
Lpath is currently moving forward in mid-stage clinical trials with two anti-S1P antibody formulations. iSONEP™ is currently being evaluated in a Phase 2 clinical trial, called Nexus, which is evaluating the anti-S1P antibody's safety and efficacy in wet-AMD patients; ASONEP™ will soon be evaluated in a Phase 2a clinical trial in patients with renal cell carcinoma.
Lpath entered into an agreement with Pfizer (NYSE: PFE) in 2010 that provides Pfizer an exclusive option for a worldwide license to develop and commercialize iSONEP.
For additional detail on the Technology Fast 500™, including selection and qualifying criteria, visit www.fast500.com.
San Diego-based Lpath, Inc., a therapeutic antibody company, is the category leader in lipid-targeted therapeutics, an emerging field of medicine that targets bioactive signaling lipids for treating a wide range of human disease. Lpath's ImmuneY2™ drug-discovery engine has the unique ability to generate therapeutic antibodies that bind to and inhibit bioactive lipids that contribute to disease. The company has developed three drug candidates: iSONEP™ is currently in a Phase 2 clinical trial for wet AMD; ASONEP™ will soon begin a Phase 2a clinical trial in Renal Cell Carcinoma patients; and Lpathomab is a preclinical drug candidate that holds promise in neuropathic pain, neurotrauma, and other diseases. For more information, visit www.Lpath.com.
About Forward-Looking Statements
The Company cautions you that the statements included in this press release that are not a description of historical facts are forward-looking statements. These include statements regarding: the protection against competition afforded by issued patents; the eventual commercial viability of the Company's drug programs; and the Company's ability to complete additional discovery and development activities for drug candidates utilizing its proprietary ImmuneY2 drug discovery process. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in the Company's business, including, without limitation: the outcome of the final analyses of the data from the Phase 1 clinical trial may vary from the Company's initial conclusions; the results of any future clinical trials for iSONEP or ASONEP may not be favorable and the Company may never receive regulatory approval for iSONEP or ASONEP or any of its drug candidates; and the Company's may not be able to secure the funds necessary to support its clinical trial and product development plans. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q filed with the SEC. Such documents may be read free of charge on the SEC's web site at www.sec.gov. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.