DGAP-News WILEX AG receives funding from the German Federal Ministry of Education and Research for the development of WX-037 as part of the ´m4 cluster initiative´
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DGAP-News: WILEX AG / Key word(s): Agreement/Research Update
WILEX AG receives funding from the German Federal Ministry of
Education and Research for the development of WX-037 as part of the
´m4 cluster initiative´
06.02.2012 / 07:10
PRESS RELEASE
WILEX receives funding from the German Federal Ministry of Education and
Research for the development of WX-037 as part of the ´m4 cluster
initiative´
Munich, Germany, 06 February 2012. WILEX AG (ISIN DE0006614720 / WL6 / FSE)
today announced that it has been granted funding of up to EUR 2.6 million
from the German Federal Ministry of Education and Research (BMBF) for the
pre-clinical and clinical development of its PI3K inhibitor WX-037. The
money will be provided as part of the Munich Leading-Edge Cluster
initiative ´m4- - Personalised Medicine and Targeted Therapies´.
WILEX will use the grant to continue the pre-clinical development work for
WX-037 and prepare clinical Phase I trials. The oral substance WX-037 has
been defined as the lead compound for the PI3K inhibitor project. Initial
pre-clinical toxicity studies as well as GMP (Good Manufacturing Practice)
synthesis and development have already been completed. In the project,
WX-037 is to be tested in pre-clinical models as a monotherapy and in
combination with the MEK inhibitor WX-554 prior to clinical development in
cancer patients.
Dr. Paul Bevan, Head of Research and Development and member of the
Executive Management Board of WILEX AG, commented: ´We are delighted to
have a project that could make a key contribution in the m4 leading-edge
cluster. We believe that our product candidates WX-037 and WX-554 have
excellent therapeutic potential and we look forward to moving the PI3K
inhibitor into clinical development. Funding from the BMBF will support us
in developing this targeted approach to tumour therapy.´
Both small-molecule inhibitors were brought into the WILEX development
portfolio in 2009 as part of the strategic alliance with UCB Pharma S.A.
WILEX completed the Phase I programme in healthy volunteers with the MEK
inhibitor WX-554 and is preparing a Phase Ib/ll trial in cancer patients.
WX-554 and WX-037 inhibit different signal pathways that play a significant
role in tumour growth, and may be developed in indications such as cancer
of the lung, liver, intestine, kidney or breast.
This project provides an opportunity to draw on a range of partnerships
between institutions within the scope of the m4 cluster of ´Personalised
Medicine´. The biobank and biomarker network may be deployed in trials to
demonstrate the overexpression of the PI3K and MEK kinase signal
transduction pathways and to develop patient selection. The project may
also utilise the infrastructure of the m⁴ Trial Service Center and host
patient trials at this centre.
About the Munich Biotech Cluster m4 and the BMBF Leading-Edge Cluster
Competition
A number of biotechnology and pharmaceutical companies, hospitals and
research institutes within the Greater Munich area have joined forces with
the BioM cluster management company in a joint initiative that will use the
strategy model ´m4 - Personalized Medicine and Targeted Therapies - A new
dimension in drug development´ to overcome the core challenges and issues
surrounding modern drug development processes. Having all parties
collaborate in a network from an early stage is intended to make the
development, review and approval of targeted drugs more efficient. The m4
cluster was one of the second-round winners in the Leading-Edge Cluster
Competition in 2010. Funding of around EUR 40 million granted by the
Federal Ministry of Education and Research will be matched by participating
industry partners contributing at least the equivalent amount from their
own resources. Bavaria is providing state funding of EUR 2 million for
cluster management development and also making another EUR 8.5 million
available for a state-wide pre-seed funding programme for personalised
medicine (m4 Award). Over the next five years, this means that almost EUR
100 million will be available for developing Munich into an ´International
Center of Excellence in Personalized Medicine and Targeted Therapies´ -
safeguarding and improving the region´s ability to compete sustainably,
attract international interest and maintain growth. Further information:
www.m4.de and www.spitzencluster.de.
About WILEX AG
WILEX AG is a biopharmaceutical company based in Munich, Germany. Focused
on oncology, the company has a broad portfolio of near-to-market
therapeutic and diagnostic products for the targeted treatment and specific
detection of various types of cancer. The company´s therapeutic product
candidates are based on antibodies and small molecules. Through its US
subsidiary WILEX Inc. in Cambridge, MA, WILEX markets a portfolio of
research use only and in vitro diagnostic tests under the brand Oncogene
Science. These diagnostic tests could be developed as companion diagnostics
in clinical trials and for therapy monitoring. The wholly owned subsidiary
Heidelberg Pharma GmbH gives WILEX access to an attractive and highly
promising antibody drug conjugate technology platform and a pre-clinical
service business. The business model of WILEX covers the entire value chain
in the oncology market and comprises research, technology, development
collaboration as well as sales and marketing. WILEX´s customers and
partners include leading international pharmaceutical companies. Website:
http://www.wilex.com, ISIN DE0006614720 / WKN 661472 / Symbol WL6
Kontakt
Katja Arnold (CIRO)
Corporate Communications
WILEX AG
Grillparzerstr. 10
81675 Munich, Germany
Phone: +49 (0)89-41 31 38-126
Fax: +49 (0)89-41 31 38-99
Email: investors@wilex.com
This communication contains certain forward-looking statements relating to
the Company´s business, which can be identified by the use of
forward-looking terminology such as ´estimates´, ´believes´, ´expects´,
´may´, ´will´ ´should´ ´future´, ´potential´ or similar expressions or by a
general discussion of the Company´s strategy, plans or intentions. Such
forward-looking statements involve known and unknown risks, uncertainties
and other factors, which may cause our actual results of operations,
financial position, earnings, achievements, or industry results, to be
materially different from any future results, earnings or achievements
expressed or implied by such forward-looking statements. Given these
uncertainties, prospective investors and partners are cautioned not to
place undue reliance on such forward-looking statements. We disclaim any
obligation to update any such forward-looking statements to reflect future
events or developments.
End of Corporate News
06.02.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: WILEX AG
Grillparzerstr. 10
81675 München
Germany
Phone: +49 (0)89 41 31 38 - 0
Fax: +49 (0)89 41 31 38 - 99
E-mail: info@wilex.com
Internet: www.wilex.com
ISIN: DE0006614720
WKN: 661472
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
155437 06.02.2012
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