GPC Biotech AG (GPCB)

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AP
Pharmion, GPC Cancer Drug Fails Study
Wednesday October 31, 8:01 am ET
Pharmion and GPC Biotech Cancer Drug Satraplatin Fails in Late Stage Study

NEW YORK (AP) -- Drug developers Pharmion Corp. and GPC Biotech AG said Wednesday the prostate cancer drug candidate satraplatin failed in a late-stage clinical trial.

The study involved 950 patients with a type of prostate cancer called hormone-refractory prostate cancer. Satraplatin combined with the corticosteroid prednisone did not meet the study's goal for overall survival rate when compared with placebo treatment.

The drug is being codeveloped by Spectrum Pharmaceuticals Inc. and GPC Biotech AG. In turn, GPC Biotech has a co-development and licensing agreement with Pharmion GmbH, a unit of Pharmion Corp., which has European rights to the drug candidate.

GPC Biotech said it is re-evaluating its development plans for satraplatin.