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Oncalis AG Licenses PI3K Inhibitors From ChemDiv, Inc.


10/6/2008 8:05:27 AM

SCHLIEREN, Switzerland, LAUSANNE, Switzerland and SAN DIEGO, Oct. 6 /PRNewswire/ -- Oncalis AG (Oncalis), a privately-owned Swiss biotechnology company, and ChemDiv Inc. (ChemDiv), a privately-owned, California-based discovery services company announced that they entered into an exclusive agreement for a license to Oncalis a family of PI3K inhibitors. ONC-201, the first development candidate from this family, is a potent and selective orally-bioavailable member of a new class of drugs targeting PI3-kinase. ONC-201 has demonstrated highly promising anti-cancer efficacy in pre-clinical cancer models.

Under the terms of the agreement, Oncalis receives a family of compounds targeting different forms of PI3-kinase (PI3-K). PI3-K is an enzyme known to be important in cancer disease progression and potentially in the regulation of certain immune and inflammation-related diseases. The potential of PI3-K inhibitors has been recently confirmed by advancing development programs from top-tier pharmaceutical companies with this class of compounds. Under the terms of the agreement ChemDiv will perform R&D activities for Oncalis' lead compounds. Financial terms of the agreement were not disclosed.

Commenting on the license, Dr. Didier Coquoz, CEO, and Dr. Alcide Barberis, CSO/COO, said that "the in-licensing of the PI3-kinase program represents a major evolution for Oncalis, a company dedicated to the development of oral inhibitors of kinases for the treatment of cancer. This program expands Oncalis' internal portfolio and we are extremely excited to successfully move ahead with the development of the PI3-kinase inhibitor ONC- 201 in addition to the triple RAF/EGFR/EPHB4 inhibitor ONC-101. We aim to enter clinical trials within the next two years with very promising new anticancer drugs in an extremely promising segment of oncology treatment".

"ChemDiv successfully provided research services to Oncalis over the past two years. We are excited about this new collaboration with our established partner. I am pleased that Oncalis shares our enthusiasm for the therapeutic potential of PI3-kinase inhibitors and ONC-201 in particular for multiple cancer indications," said Dr. Nikolay Savchuk, President and CEO of ChemDiv. "Oncalis has a significant development and business expertise in oncology which we believe will help accelerate the development of these novel small molecules designed to inhibit the important cancer and inflammation related PI3K-Akt pathway."

About Oncalis:

Oncalis AG is a drug development company based in Schlieren near Zurich, Switzerland supported by VI Partners, Zurcher KantonalBank and private investors. Oncalis business model is focused around its core expertise in kinase inhibitors and drug development within the highly rewarding development steps from early preclinical to initial clinical proof-of-concept. Oncalis is operating in a virtual mode using a highly experimented internal team as well as top-tier experts and sub-contractors.

About ChemDiv:

ChemDiv Inc. (Chemical Diversity) is a global chemistry-driven contract research organization accelerating discovery and development of novel therapies through comprehensive Discovery outSource(TM) services, including pre-clinical development, discovery biology, medicinal and synthetic chemistry.

CONTACT: Didier Coquoz, Chief Executive Officer of Oncalis AG, +41 21 691
50 31, didier.coquoz@oncalis.com; or Ronald Demuth, Sr. VP Corporate
Development of ChemDiv Inc., +1-858-794-4860, rdemuth@chemdiv.com

Web site: http://www.chemdiv.com/
http://www.oncalis.com/


Read at BioSpace.com


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