Algeta to present at BioEquity Europe 2009
Oslo, Norway - Algeta ASA (OSE: ALGETA), the cancer therapeutics company, announces that its President & CEO Andrew Kay will present a corporate overview at the forthcoming BioEquity Europe 2009 conference on 9 June at 12.00pm in Ballroom 1. The conference takes place at the Hilton Munich Park Hotel, in Munich, Germany on the 9-10 June 2009.
During his presentation, Mr. Kay will highlight the progress that Algeta has made with its lead product Alpharadin which is being developed as a first choice treatment for bone metastases associated with major cancers. Alpharadin (based on radium-223) is currently in a global phase III clinical trial (ALSYMPCA) for bone metastases in patients with hormone-refractory prostate cancer (HRPC).
Alpharadin has a unique mode of action as it is targeted specifically to the bone metastases where it exerts a highly localized effect on cancer cells while minimizing damage on normal surrounding tissues. In phase II studies, Alpharadin demonstrated strong evidence that it can prolong patient survival, improve quality of life and offer a benign safety profile. This latter point is highly significant as it suggests Alpharadin could be used in addition to existing cancer treatments.
Bone metastases are a serious and often fatal consequence of major cancers such as prostate, breast and lung, and for many patients there is no effective treatment and an urgent need for novel treatments that both prolong life and improve the quality of life.
Earlier this year Algeta raised NOK 250 million (USD 37 million) to support the ALSYMPCA trial. The funds will also be used to support further trials both to validate potential label extensions for Alpharadin in metastatic prostate cancer and to evaluate the use of Alpharadin in treating bone metastases in breast cancer patients.
Algeta ASA is a cancer therapeutics company built on world-leading, proprietary technology. Algeta is developing a new generation of targeted cancer therapeutics (alpha-pharmaceuticals) that harness the unique characteristics of alpha particle emitters and are potent, well-tolerated and convenient to use.
Algeta’s lead alpha-pharmaceutical candidate, Alpharadin (based on radium-223), has blockbuster potential for treating bone metastases arising from multiple major cancer types, owing to its bone-targeting nature, potent efficacy (therapeutic and palliative) and benign, placebo-like safety profile. Development of Alpharadin is most advanced targeting bone metastases resulting from hormone-refractory prostate cancer (HRPC), and it entered an international phase III clinical trial (ALSYMPCA) in mid-2008 based on compelling clinical results from a comprehensive phase II program.
Algeta’s strategy is to launch Alpharadin as a first or second line treatment for cancer patients with bone metastases either alone or in combination with current standard of care therapies, thereby maximizing its commercial potential.
Algeta is also developing other technologies for delivering alpha-pharmaceuticals. These include microparticles, liposomes, and methods to enhance the potency of therapeutic antibodies and other tumor-targeting molecules by linking them to the alpha particle emitter thorium-227. The Company is headquartered in Oslo, Norway, and was founded in 1997.
Algeta listed on the Oslo Stock Exchange in March 2007 (Ticker: ALGETA).
Alpharadin and Algeta are trademarks of Algeta ASA.
This news release contains forward-looking statements and forecasts based on uncertainty, since they relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on results of operations and the financial condition of Algeta. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. Theses factors include, among other things, risks associated with technological development, the risk that research & development will not yield new products that achieve commercial success, the impact of competition, the ability to close viable and profitable business deals, the risk of non-approval of patents not yet granted and difficulties of obtaining relevant governmental approvals for new products.
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