New ETF Book by Larry Connors - Click here to read more
Under the terms of the agreement, Debiopharm will assume all future development responsibility and incur all future costs related to the licensed Hsp90 technology, including CUDC-305. Curis currently expects that Debiopharm will file an application with health authorities to begin Phase I clinical testing for CUDC-305 in Fall 2009. Curis will receive an up-front license fee and, pending approval of such application, Curis will receive additional near-term payments. Curis is further eligible to receive additional contingent payments assuming the successful achievement of specified clinical development and regulatory approval objectives as well as royalties on product sales, if any, on any products that are successfully commercialised by Debiopharm or its sublicensees.
"We are very pleased to have entered into this license agreement with Debiopharm. We have been highly impressed with the depth of Debiopharm's development expertise and commitment to working with our team to create an optimum clinical development plan for our novel drug candidate, CUDC-305, which we believe may offer future benefit to cancer patients," said Dan Passeri, Curis President and Chief Executive Officer. "This transaction is particularly important to Curis because the agreement provides non-dilutive capital that we expect will allow us to continue to seek to internally develop CUDC-101, our first-in-class HDAC/EGFR/Her2 inhibitor that is currently enrolling patients in a Phase I dose escalation trial, as well as our other promising preclinical multi-targeted development programs. We believe that the up-front license fee and near-term contingent payments will extend our cash runway well into 2011."
"We expect additional data during the second half of 2010 from our collaborator Genentech's ongoing Phase II clinical trials of GDC-0449, a Hedgehog Pathway Inhibitor, in advanced basal cell carcinoma, metastatic colorectal cancer and advanced ovarian cancer," said Michael Gray, Curis' Chief Operating and Chief Financial Officer. "Positive results with GDC-0449 in any of these indications have the potential to be a significant value-creating event for Curis stockholders and could provide future milestone payments to further extend our cash runway and fund our further investment in our multi-targeted inhibitor programs, including CUDC-101."
"Debiopharm Group is very excited about this new opportunity. Curis has established its excellence in this type of targeted therapy, which has the potential of being effective in several cancer indications, alone or in combination with other drugs", said Rolland-Yves Mauvernay, President and Founder of Debiopharm Group, who added :"The professionalism of the entire Curis team has made us very confident that the partnership would soon prove successful for the two parties and open the door to an outstanding cooperation to bring new and effective therapies to patients. "
((Comments on this story may be sent to health@closeupmedia.com))
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
