EAST SETAUKET, N.Y., June 25 /PRNewswire-FirstCall/ -- Lixte Biotechnology Holdings announced today that the National Institute of Neurological Disorders and Stroke (NINDS), National Institutes of Health (NIH) and Lixte Biotechnology Holdings, Inc. extended their Cooperative Research and Development Agreement (CRADA) to develop drugs for the treatment of brain cancers. The CRADA, initiated in March 2006 was extended through September 2009.
Dr. John S. Kovach, President and CEO of Lixte, said, "The scientific interaction with the research team at the Molecular Pathogenesis Unit (MPU), Surgical Neurology Branch, (SNB), NINDS, has been highly productive and is a good example of how government and private sector scientific organizations may accelerate the drug development process. A novel biomarker of glioblastoma multiforme, the most common and aggressive brain tumor of adults, discovered at the MPU, SNB led to insights into potential vulnerability of this devastating cancer to pharmacologic attack. Based on these insights, Lixte synthesized two different types of anti-cancer drugs that target the biomarker. In less than two years, working with the MPU, SNB under the CRADA, Lixte has identified lead compounds of both types, which inhibit glioblastoma multiforme in animal models. These novel compounds are now undergoing pre- clinical evaluation of their pharmacologic characteristics, the first step in the process of preparing an Investigational Drug Application (IND) to the FDA for clinical evaluation."
About Lixte Biotechnology Holdings, Inc.:
Lixte Biotechnology Holdings, Inc. is a cancer therapeutics and diagnostics company. Founded as a biomarker-diagnostics company in 2005, Lixte develops new chemotherapy drugs targeting molecular abnormalities of common human cancers.
About the National Institute of Neurological Disorders and Stroke (NINDS), (NIH):
NINDS (www.ninds.nih.gov) is a component of the National Institutes of Health (NIH), and is the nation's primary supporter of biomedical research on the brain and nervous system.
The National Institutes of Health (NIH) - The Nation's Medical Research Agency - includes 27 Institutes and Centers and is a component of the U.S. Department of Health and Human Services. It is the primary federal agency for conducting and supporting basic, clinical and translational medical research, and it investigates the causes, treatments, and cures for both common and rare diseases. For more information about NIH and its programs, visit www.nih.gov.
This announcement contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. For example, statements regarding the Company's financial position, business strategy and other plans and objectives for future operations, and assumptions and predictions about future product demand, supply, manufacturing, costs, marketing and pricing factors are all forward-looking statements. These statements are generally accompanied by words such as "intend," anticipate," "believe," "estimate," "potential(ly)," "continue," "forecast," "predict," "plan," "may," "will," "could," "would," "should," "expect" or the negative of such terms or other comparable terminology. The Company believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, based on information available to it on the date hereof, but the Company cannot provide assurances that these assumptions and expectations will prove to have been correct or that the Company will take any action that the Company may presently be planning. However, these forward-looking statements are inherently subject to known and unknown risks and uncertainties. Actual results or experience may differ materially from those expected or anticipated in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, regulatory policies, available cash, research results, competition from other similar businesses, and market and general economic factors. This discussion should be read in conjunction with the condensed consolidated financial statements and notes thereto included on Form 10-QSB for the quarter ending March 31, 2008.
CONTACT: Investor Information, Frank Benedetto, Mirador Consulting, Inc.
Web site: http://www.Lixte.com//