SOUTH SAN FRANCISCO, Calif., April 28 /PRNewswire-FirstCall/ -- Corgentech Inc. today announced that data from a Phase 3 trial of 3268, a fast-acting local anesthetic aimed at reducing pain associated with venipunctures and intravenous line placements will be presented during the 2006 Pediatric Academic Societies’ (PAS) annual meeting being held April 29- May 2, 2006, at the Moscone Convention Center in San Francisco, CA.
Details on the presentation are as follows: Sunday, April 30, 2006 PAS Platform Session: Emergency Medicine, Room 3014, 8:00 - 10:00 a.m. Podium Presentation: ALGRX 3268 Produces Local Analgesia Within 1 to 3 Minutes for Venipuncture and Peripheral Venous Cannulation Procedures in Children Presenter: Elliot Krane, M.D., Professor, Anesthesiology and Pediatrics, Stanford School of Medicine, Stanford University, and Director, Pain Management Service, Lucile Packard Children’s Hospital at Stanford About 3268 and the Market Opportunity for a Fast-Acting Local Anesthetic
3268 represents a near-term product opportunity for which an NDA is expected to be filed in mid-2006. Two Phase 3 studies have shown 3268 to significantly reduce the pain associated with venous access procedures in children. 3268 is a needlefree system that delivers lidocaine powder into the epidermis and provides analgesia in one to three minutes after administration. The product, which may be especially useful in pediatric populations and emergency room settings, is easy to use and its rapid onset allows for uninterrupted care offering an important advantage over currently available therapies.
Local anesthetics for venipunctures and intravenous line placements are an underserved market. Currently, in the largest children’s hospitals and academic institutions in the United States, approximately 18 million venipunctures and intravenous line placements occur each year in pediatric patients alone. Of these, topical local anesthetics are used in only approximately 2.1 million of these procedures given that the currently marketed products are inconvenient, requiring up to 60 minutes to offer benefit, limiting their routine use. With its rapid onset-of-action, additional opportunities exist for 3268 in the adult hospital setting, hemodialysis and blood donation centers as well as physicians’ offices and clinical laboratories.
About Corgentech
Corgentech is a late-stage biopharmaceutical company which seeks to be the leader in the development and commercialization of novel therapeutic treatments for pain. The company has four drug candidates in clinical development for multiple potential indications, the most advanced of which, 3268, has completed Phase 3 clinical trials. Corgentech is based in South San Francisco, CA.
Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. Forward- looking statements in this press release include, without limitation, projected timing of FDA filings and clinical data announcements and other matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: whether Corgentech can successfully develop new products and the degree to which these gain market acceptance. Actual results may differ materially from those contained in the forward- looking statements in this press release. Additional information concerning these and other risk factors is contained in Corgentech’s Annual Report on Form 10-K for the year ended December 31, 2005.
Corgentech undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
Corgentech Inc.
CONTACT: Richard Powers, Chief Financial Officer of Corgentech Inc.,+1-650-624-9600, or investors@corgentech.com; or media, Daryl Messinger ofWeissComm Partners, +1-415-999-2361, or daryl@weisscommpartners.com, forCorgentech Inc.
Web site: http://www.corgentech.com//
