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Tamir Biotechnology Inc. (ACEL) RSS Feed

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Alfacell is a biopharmaceutical company focused on the discovery, development and commercialization of novel ribonucleases (RNases). Our mission is to develop new therapeutics from our novel ribonuclease technology platform for the treatment of cancer, infectious diseases and other life threatening conditions, thus offering new horizons of hope for patients and physicians. http://www.alfacell.com/ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Company Release - 01/15/2008 08:30 Alfacell Corporation Licenses ONCONASE(R) U.S. Commercial Rights to Strativa Pharmaceuticals SOMERSET, N.J., Jan. 15 /PRNewswire-FirstCall/ -- Alfacell Corporation (Nasdaq: ACEL) today announced that it has entered into a license agreement with Strativa Pharmaceuticals, the proprietary products division of a wholly owned subsidiary of Par Pharmaceutical Companies, Inc. (NYSE: PRX), for the commercialization of ONCONASE (ranpirnase) in the United States. ONCONASE is currently being evaluated as a treatment for unresectable malignant mesothelioma (UMM) in a confirmatory Phase IIIb clinical trial. Under the terms of the agreement, Strativa will have exclusive marketing, sales and distribution rights to ONCONASE for the treatment of cancer in the U.S. and its territories. Alfacell will retain all rights and obligations for product manufacturing, clinical development and obtaining regulatory approvals, as well as all rights for non-U.S. jurisdictions where Alfacell does not currently have ONCONASE partnerships. Joint oversight committees with members from Alfacell and Strativa will manage the alliance. This agreement could provide Alfacell with up to $225 million in cash milestones plus additional non-dilutive funding, including: -- An initial payment upon signing of $5 million in cash and up to $30 million in cash upon FDA approval of ONCONASE for UMM. -- Additional milestone payments pursuant to the achievement of development and regulatory milestones for new ONCONASE cancer indications as well as net sales milestones. -- An option, at Alfacell's discretion, to co-promote ONCONASE in the future, with support from Strativa. Strativa will provide technical expertise for a future Alfacell oncology sales force, as well as funding for certain associated costs. In addition, Alfacell will receive double-digit royalties on net sales of ONCONASE. "From the beginning of our discussions, we were impressed with the capabilities, resources and commitment to success at Strativa," said Kuslima Shogen, Chairman and CEO at Alfacell. "These factors were critical for us in choosing the right partner for ONCONASE in the United States. We look forward to collaborating with Strativa as we develop ONCONASE in additional oncology indications, and are confident that this partnership will pave the way for future success for both companies." John A. MacPhee, president of Strativa, said, "We are very excited to be partnering with Alfacell, an innovative biopharmaceutical company, to meet the treatment needs of mesothelioma patients. Adding ONCONASE to Strativa's product portfolio as our first oncology therapeutic advances our goal of becoming a leading specialty pharmaceutical company. We look forward to collaborating on future projects with Alfacell." About ONCONASE(R) ONCONASE is a first-in-class product candidate from Alfacell's proprietary ribonuclease (RNase) technology. A natural protein isolated from the leopard frog, ONCONASE has been shown in the laboratory and clinic to target cancer cells while sparing normal cells. ONCONASE triggers apoptosis (natural death of cells) via multiple molecular mechanisms of action. About Alfacell Corporation Alfacell Corporation is the first company to advance a biopharmaceutical product candidate that works in a manner similar to RNA interference (RNAi) through late-stage clinical trials. The product candidate, ONCONASE, is an RNase that overcomes the challenges of targeting RNA for therapeutic purposes while enabling the development of a new class of targeted therapies for cancer and other life-threatening diseases. In addition to an ongoing Phase IIIb study in malignant mesothelioma, Alfacell is conducting a Phase I/II trial of ONCONASE in non-small cell lung cancer (NSCLC) and other solid tumors. For more information, visit www.alfacell.com. About Strativa Strativa Pharmaceuticals is the proprietary products division of Par Pharmaceutical, Inc. Supported by Par's financial and organizational capabilities including substantial cash resources, Strativa Pharmaceuticals is committed to developing and marketing novel prescription drugs. Its initial focus is on supportive care therapeutics in HIV and oncology. Drawing on the specialty products expertise of its staff, Strativa possesses the resources to prepare products for introduction and to help ensure their success after launch. For additional information, please visit www.strativapharma.com. About Par Pharmaceutical Par Pharmaceutical, Inc. develops, manufactures and markets generic drugs and innovative branded pharmaceuticals for specialty markets. For press release and other company information, visit www.parpharm.com. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Company Release - 01/17/2008 08:30 Alfacell Appoints David Sidransky Chairman of the Board of Directors SOMERSET, N.J., Jan. 17 /PRNewswire-FirstCall/ -- Alfacell Corporation (Nasdaq: ACEL) today announced that its board of directors has appointed David Sidransky, M.D., chairman. Dr. Sidransky, 47, has served as Alfacell's vice chairman since January 2007 and as a director since May 2004. He succeeds Kuslima Shogen, Alfacell's chairman since 1996. Ms. Shogen continues to serve as Alfacell's chief executive officer and a director. Separating the roles of chairman and chief executive officer is considered a best practice of corporate governance and will allow the company to focus on the completion of its rolling new drug application for ONCONASE(R) and pursue new business relationships and opportunities. The change in responsibilities is consistent with the recent and ongoing efforts of the board of directors to develop a succession plan that allows for a smooth leadership transition upon the potential marketing approval of ONCONASE. "Dr. Sidransky is an asset to our company and our board," said Ms. Shogen. "David and I have worked closely together over the past four years, and his appointment to the chairman's post is a positive step forward as we progress toward our goal of completing Alfacell's transformation into a successful commercial-stage biotechnology company." About David Sidransky, M.D. Dr. Sidransky joined the Alfacell board of directors in May 2004 and serves as Chairman of Alfacell's scientific advisory board. The founder of several private biotechnology companies, he has served as a scientific advisory board member for many private and public biotechnology companies, including MedImmune, Telik, Roche and Amgen. In addition, he is a director of ImClone Systems, Champions Biotechnology Inc. and Xenomics Inc. Previously, he was a member of the board of scientific counselors at the NIDCR and a member of the Recombinant DNA advisory committee at the National Institute of Health NIH (RAC). Currently, Dr. Sidransky is the director of the Head and Neck Cancer Research Division at Johns Hopkins University School of Medicine. In addition, he is a professor of Oncology, Otolaryngology-Head and Neck Surgery, Cellular & Molecular Medicine, Urology, Genetics and Pathology at John Hopkins University and Hospital. Dr. Sidransky is certified in Internal Medicine and Medical Oncology by the American Board of Medicine. More than 350 articles written by Dr. Sidransky have been published in peer-reviewed journals. Furthermore, he has contributed more than 60 cancer reviews and chapters to industry publications and has secured numerous biotechnology patents. He has been the recipient of many awards and honors, including the 1997 Sarstedt International prize from the German Society of Clinical Chemistry, 1998 Alton Ochsner Award Relating Smoking and Health by the American College of Chest Physicians and the 2004 Hinda Rosenthal Award presented by the American Association of Cancer Research. Dr. Sidransky received his bachelor's degree from Brandeis University and his medical degree from the Baylor College of Medicine. About ONCONASE(R) ONCONASE is a first-in-class therapeutic product candidate based on Alfacell's proprietary ribonuclease (RNase) technology. A natural protein isolated from the leopard frog, ONCONASE has been shown in the laboratory and clinic to target cancer cells while sparing normal cells. ONCONASE triggers apoptosis, the natural death of cells, via multiple molecular mechanisms of action. About Alfacell Corporation Alfacell Corporation is the first company to advance a biopharmaceutical product candidate that works in a manner similar to RNA interference (RNAi) through late-stage clinical trials. The product candidate, ONCONASE, is an RNase that overcomes the challenges of targeting RNA for therapeutic purposes while enabling the development of a new class of targeted therapies for cancer and other life-threatening diseases. In addition to an ongoing Phase IIIb study in malignant mesothelioma, Alfacell is conducting a Phase I/II trial of ONCONASE in non-small cell lung cancer (NSCLC) and other solid tumors. For more information, visit www.alfacell.com.
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