Novelix Announces In-Licensing And Development Plans For A Novel Cancer Drug

PASADENA, Calif.--(BUSINESS WIRE)--Dec. 19, 2005--Novelix Pharmaceuticals Inc. (Novelix) announced today that it has exclusively licensed the rights to a group of innovative new cancer therapeutics from the University of Southern California. The lead compound, named NVX-144, is part of Novelix' pipeline of first-in-class small molecule targeted drugs for cancers resistant to standard treatment. Based on preclinical data, Novelix anticipates that NVX-144 will be the first product in its portfolio to enter clinical development in late 2006.