SEATTLE, May 30, 2012 /PRNewswire/ -- Aequus BioPharma, Inc. ("Aequus"), a majority owned subsidiary of Cell Therapeutics, Inc. ("CTI") (NASDAQ and MTA: CTIC), announced today that its GlycoPolymer technology proof of concept studies, featuring recent data with their AQB-101 drug candidate, was selected for an oral presentation at the 9th International Symposium for Polymer Therapeutics meeting. The meeting will be held on May 28-30, 2012, at the Centro de Investigacion Principe Felipe in Valencia, Spain.
Stewart D. Chipman, Ph.D., the Chief Scientific Officer and President of Aequus, is scheduled to present the data on Wednesday, May 30, 2012, during the "New Technologies and Novel Therapeutic Targets" session that will be held from 8.30 to 13.00 CET. The presentation is entitled, "AQB-101, A novel glycoprotein with G-CSF activity and a recombinantly ligated amino acid sequence, demonstrates plasma pharmacokinetics comparable to PEG-G-CSF."
Dr. Chipman stated, "The data in this presentation demonstrates thepotential utility of Aequus' proprietary GlycoPolymer technology for extending the plasma half-life of therapeutically useful proteins and peptides that possess limited efficacy due to poor intrinsic pharmacokinetic properties. Aequus believes that application of its straightforward modular GlycoPolymer technology approach, which utilizes industry standard methods and techniques, to biologically active proteins and peptides will facilitate the development of therapeutic protein-based drugs that require less frequent dosing and offer improved patient convenience."
"Aequus' presentation will describe how the company has created a novel hG-CSF-based therapeutic protein candidate, AQB-101, by using the GlycoPolymer technology approach. The AQB-101 glycoprotein possesses a plasma half-life that is comparable to pegylated hG-CSF (Neulasta®), and significantly prolonged compared to hG-CSF (Neupogen®). Aequus believes the AQB-101 glycoprotein could be a suitable candidate for further development as a human therapeutic agent in the market currently dominated by Neulasta®," Dr. Chipman concluded.
About GlycoPolymer Technology
Aequus' GlycoPolymer technology allows drug developers to create novel biopharmaceuticals that require less frequent injections (i.e., monthly rather than daily) due to their improved pharmacokinetic properties. The technology genetically ligates an external amino acid domain to a therapeutic protein or peptide candidate that results in additional N-linked glycosylation. The presence of additional, appropriately-formed, N-linked glycan chains has been demonstrated to have a beneficial effect on plasma half-life. The modular GlycoPolymer technology provides a more technically straightforward and predictable approach to extend the plasma half-life of a protein compared to the previously utilized method of engineering novel glycosylation sites internal to the therapeutic protein sequence.
AQB-101 is a novel GlycoPolymer-based glycoprotein that possesses granulocyte colony stimulating factor-like activity. AQB-101 was created by Aequus to demonstrate the utility of the GlycoPolymer technology platform, as well as to create a novel colony stimulating factor therapeutic agent to compete in this significant biopharmaceutical marketplace.
About Aequus BioPharma, Inc.
Headquartered on Bainbridge Island WA, Aequus is a biopharmaceutical company committed to streamlining the development and manufacture of novel and 'follow-on' therapeutic protein drugs. Aequus is a majority owned subsidiary of Cell Therapeutics, Inc. ("CTI") (NASDAQ and MTA: CTIC).
About Cell Therapeutics, Inc.
Headquartered in Seattle, CTI is a biopharmaceutical company committed to developing an integrated portfolio of oncology products aimed at making cancer more treatable.
This press release includes forward-looking statements that involve a number of risks and uncertainties the outcome of which could materially and/or adversely affect actual future results and the market price of CTI's securities. Specifically, the risks and uncertainties that could affect the development of the drug candidate AQB-101 include risks associated with preclinical and clinical developments in the biopharmaceutical industry in general, and with AQB-101 in particular, including, without limitation, the potential failure of AQB-101 to create a novel colony stimulating factor therapeutic agent, that Aequus's application of modular GlycoPolymer technology to biologically active proteins and peptides may not facilitate the development of therapeutic protein-based drugs that require less frequent dosing and offer improved patient convenience, that AQB-101 may not demonstrate the utility of the GlycoPolymer technology platform, CTI's and Aequus's ability to continue to raise capital as needed to fund its operations, competitive factors, technological developments, costs of developing, producing and selling CTI's and Aequus's product candidates, and the risk factors listed or described from time to time in CTI's filings with the Securities and Exchange Commission including, without limitation, CTI's most recent filings on Forms 10-K, 10-Q and 8-K. Except as may be required by law, CTI does not intend to update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.
SOURCE Cell Therapeutics, Inc.