ROCKVILLE, Md., March 13 /PRNewswire-FirstCall/ -- EntreMed, Inc. , a clinical-stage pharmaceutical company developing therapeutics for the treatment of cancer and inflammatory diseases, today announced its 2008 corporate and clinical program priorities. Formal remarks regarding corporate objectives, as well as plans for current and future clinical development milestones were delivered this morning by EntreMed President and CEO, James S. Burns, during the Company’s year-end 2007 update call.
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EntreMed reiterated its strategy of investing behind multiple clinical- stage oncology product candidates. In 2008, EntreMed plans to focus in three principal objectives.
EntreMed also announced that the Company has reprioritized its development pipeline to focus investment on three of its oncology programs, specifically: MKC-1, ENMD-1198, and ENMD-2076.
EntreMed President & CEO, James S. Burns, commented, “We are concentrating our resources on fewer programs that we believe have greater potential for product registration and ultimately commercialization. We have three promising oncology programs to pursue in 2008: MKC-1 in multiple Phase 1 and 2 trials, ENMD-1198 that we expect to enter into Phase 2 before year end, and ENMD-2076 that will begin a Phase 1b clinical trial shortly, together with our initial clinical trial for Panzem(R) in a potentially larger RA market.”
Mr. Burns further commented, “Our goal in 2008 is to continue moving ahead on priority programs while maintaining our cash expenditures at approximately the same level as in 2007. As part of our financial plan, we are also focusing increased attention on partnering one or more of our programs in order to fund and advance our programs into later stages of development. We will, however, continue to selectively seek opportunities such as individual products or companies that could favorably impact the quality of our pipeline, allow us to de-risk the Company, and enhance shareholder value.”
A digital recording of the Company’s will be available approximately two hours after the completion of the conference and will be accessible for 60 days. To access the recording, dial 800-642-1687 (U.S. or Canada) or 706-645- 9291 (internationally) and enter the digital pin number 37155333. An audio replay will also be available approximately two hours after the conference and can be accessed through the Company’s website at http://www.entremed.com. EntreMed’s fourth quarter update call was held today at 10:00 a.m. ET. A digital recording will be available approximately two hours after completion of the conference and will be accessible for 60 days. To access the recording, dial 800-642-1687 (U.S. or Canada) or 706-645-9291 (internationally) and enter the digital pin number 37155333. In addition, an audio replay will also be available on the Company’s website at http://www.entremed.com approximately one hour after the conclusion of the live conference.
About EntreMed
EntreMed, Inc. is a clinical-stage pharmaceutical company developing therapeutic candidates primarily for the treatment of cancer and inflammation. MKC-1 is currently in multiple Phase 2 clinical trials for cancer. MKC-1 is an oral cell-cycle regulator with activity against the mTOR pathway. ENMD-1198, a novel tubulin-binding agent, is in Phase 1 studies in advanced cancers. The Company has approved IND applications for Panzem(R) in rheumatoid arthritis, and ENMD-2076, a dual-acting Aurora-angiogenesis inhibitor, for cancer. EntreMed’s goal is to develop and commercialize new compounds based on the Company’s expertise in angiogenesis, cell-cycle regulation and inflammation - processes vital to the treatment of cancer and other diseases, such as rheumatoid arthritis. Additional information about EntreMed is available on the Company’s web site at www.entremed.com and in various filings with the Securities and Exchange Commission.
Forward Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for expectations for future financial or business performance (including the timing of royalty revenues and future R&D expenditures), strategies, expectations and goals. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and no duty to update forward-looking statements is assumed. Actual results could differ materially from those currently anticipated due to a number of factors, including those set forth in Securities and Exchange Commission filings under “Risk Factors,” including risks relating to the need for additional capital and the uncertainty of additional funding; variations in actual sales of Thalomid(R), risks associated with the Company’s product candidates; the early-stage products under development; results in preclinical models are not necessarily indicative of clinical results, uncertainties relating to preclinical and clinical trials; success in the clinical development of any products; dependence on third parties; future capital needs; and risks relating to the commercialization, if any, of the Company’s proposed products (such as marketing, safety, regulatory, patent, product liability, supply, competition and other risks).
CONTACT: Ginny Dunn, Associate Director, Corporate Communications &
Investor Relations for EntreMed, Inc., +1-240-864-2643
Web site: http://www.entremed.com/