Orphan Drug Designation (SS1-dsFv--PE38) Requested for Treatment of Mesothelioma and Ovarian Cancer,Phase I Trial Opens at Oklahoma University
October 8, 2001
LAKE FOREST, Ill.--(BUSINESS WIRE)--Oct. 8, 2001--NeoPharm, Inc. announced today that it has submitted Orphan Drug Applications for SS1(dsFv)-PE38 for the treatment of mesothelioma and ovarian cancer. SS1(dsFv)-PE38 is NeoPharm's novel monoclonal antibody targeted cytotoxin that is being developed to specifically target and destroy tumor cells. NeoPharm has licensed the exclusive worldwide development rights for SS1(dsFv)-PE38 from the National Cancer Institute (NCI) and the National Institutes of Health (NIH). Phase I clinical trials for SS1(dsFv)-PE38 are currently being conducted at Oklahoma University Medical Center and NCI. Orphan Drug status, if granted, may assist NeoPharm in the development of SS1(dsFv)-PE38 and would also grant NeoPharm a total of seven years of marketing exclusivity.
"We are pleased to announce that SS1(dsFv)-PE38 is the second cancer drug currently under development at NeoPharm for which we are seeking Orphan Drug status,'' said James Hussey, President and Chief Executive Officer of NeoPharm. ""We plan to begin Phase II clinical trials for this drug next year and are hopeful that, if we are granted Orphan Drug status for SS1(dsFv)-PE38, we will be able to accelerate the development of this new drug.''
NeoPharm, Inc., based in Lake Forest, Illinois, is a publicly traded biopharmaceutical company dedicated to the discovery and commercialization of new and innovative cancer drugs for therapeutic applications. The Company has a broad portfolio of cancer compounds in various stages of development.
*** POSTED OCTOBER 9, 2001 ***