Life Science Pharmaceuticals, Inc. Acquires Three Clinical Stage Monoclonal Antibody Programs From The Ludwig Institute For Cancer Research (LICR)  
6/1/2006 11:18:35 AM

Life Science Pharmaceuticals announced today that it has completed an exclusive world-wide license to commercially develop three monoclonal antibodies which represent novel potential therapies for cancer and autoimmune diseases. Under the leadership of Dr. Lloyd J. Old, Senior Scientific Advisor to the Company, LICR has performed the most comprehensive cancer cell surface mapping and targeting studies in the field. These studies have yielded a portfolio of well characterized and target-specific monoclonal antibodies. The selectivity of each product candidate has been validated in humans by demonstrating safety and targeting in clinical studies. The Company plans to exploit the targeting attributes of certain product candidates by attaching tumor-fighting payloads to the antibodies.

The Company's lead product candidate, antibody 806 targets a unique epitope in the Epidermal Growth Factor Receptor (EGFR). This distinct target is present on cancer cells but not available on normal cells. Currently approved EGF targeting drugs Erbitux® and Tarceva® target the wild-type receptor which is also present in normal skin and liver cells. The Company believes the unique targeting attributes of 806 may represent a new paradigm of cancer treatment via the EGFR pathway.

The second antibody in the Company's pipeline, targets FAP (fibroblast activating protein) present on the surface of tumor stroma cells. The company believes anti-FAP-alpha antibodies represent a significant market opportunity because they target the tumor micro-environment rather than the tumor itself. Thus, this antibody may benefit patients suffering with multiple types of solid tumors. A33, the third antibody acquired by the company targets colorectal cancer and is currently the focus of clinical trials at the Memorial Sloan Kettering Cancer Center and The LICR Melbourne Center for Clinical Studies.

"In one transaction, Life Science Pharmaceuticals has acquired a diverse portfolio of exciting clinical stage product candidates," noted James Fiore, President and CEO of the Company. "We have also structured close collaborations with key scientific personnel at the Ludwig Institute, providing a smooth transition from academic to commercial development," Mr. Fiore added.

About Life Science Pharmaceuticals, Incorporated -- The mission of Life Science Pharmaceuticals ("LSP") is to develop multiple monoclonal antibody therapeutic products for the treatment of cancer and autoimmune diseases. The company is currently developing three monoclonal antibody product candidates. LSP is also developing novel antibody payload compounds in collaboration with prestigious academic institutions. Inquires regarding LSP's products and programs should be directed to James Fiore, President and CEO at 203 422 6500.

About The Ludwig Institute for Cancer Research -- The Ludwig Institute for Cancer Research is a global non-profit organization committed to improving the understanding and control of cancer through integrated laboratory and clinical discovery employing over 800 scientists in Branches throughout North and South America, Europe and Australia. Leveraging its worldwide network of investigators and the ability to sponsor and conduct its own clinical trials, LICR is actively engaged in translating its discoveries into applications for human benefit.

Source: Life Science Pharmaceuticals, Inc.