LifeSci Advisors Announces Investment Opinion on ChemGenex Pharmaceuticals
07 October 2010 - 5:22AM
Business Wire
LifeSci Advisors, LLC, a leading provider of investment research
and investor relations services in the life sciences sector, today
announced that it has initiated coverage of ChemGenex
Pharmaceuticals (ASX:CXS) (Pink Sheets:CXSPY), an oncology focused
biopharmaceutical company developing small molecules with new
mechanisms of action to treat malignancies with significant unmet
medical needs.
“ChemGenex is in the enviable position of being poised for
regulatory approval in the US and EU for its first drug candidate,
OMAPRO for the treatment of multiple TKI resistant CML patients,”
commented Andrew I. McDonald, Ph.D., Managing Director at LifeSci
Advisors. “The efficacy and safety demonstrated for OMAPRO in
pivotal studies will give hope to these patients, who have no
approved alternative therapies. Given OMAPRO’s desirable attributes
and the company’s recent agreement with FDA on regulatory strategy,
we believe that approval is highly likely and that OMAPRO will
become the treatment of choice in this population, which we
estimate will be near a $400MM opportunity in 2012.”
LifeSci Advisors’ 37-page Initiation Report contains a detailed
discussion of ChemGenex Pharmaceuticals’ lead drug candidate,
OMAPRO, a first-in-class cetaxine with demonstrated single agent
activity in a range of hematological malignancies. The report
discusses competitive positioning and growth opportunities for
OMAPRO. The third-line CML market opportunity has been growing at
>30% annually and should reach over $400MM in 2012. OMAPRO is
poised for approval with Orphan Drug designations in both the US
and EU, which will allow for 7 and 10 years of market exclusivity
respectively. Additional protection will be provided by their
method of use patent, which is set to expire in 2023. The report
highlights OMAPRO’s recent clinical achievements, regulatory
history and strategy, upcoming expected milestones, relevant market
dynamics, and risks.
Dr. McDonald’s full Initiation Report is available to download
at no cost at the LifeSci Advisors website,
www.lifesciadvisors.com. In addition to this Initiation Report,
LifeSci Advisors will also provide ongoing coverage and event-based
research updates on ChemGenex Pharmaceuticals as developments
occur.
The LifeSci Advisors research team is led by Dr. Andrew I.
McDonald, an industry veteran with more than 15 years of healthcare
industry experience. Prior to co-founding LSA, Dr. McDonald was the
Senior Biotechnology Analyst at Great Point Partners, a leading
health care investment firm with over $500 million under
management. Before Great Point, he was Co-head of Healthcare
Research and Lead Biotechnology Analyst at ThinkEquity Partners, a
boutique investment banking firm focused on growth companies. Dr.
McDonald holds a Ph.D. in organic chemistry from the University of
California, Irvine, and, earlier in his career, worked as a
medicinal chemist at both Pfizer and Cytokinetics.
About ChemGenex Pharmaceuticals
Limited:
ChemGenex is an oncology focused biopharmaceutical company
developing small molecules with new mechanisms of action to treat
malignancies with significant unmet medical needs. A New Drug
Application has been accepted by the U.S. Food and Drug
Administration and a Marketing Authorization Application has been
validated by the European Medicines Agency for CML patients who
have failed imatinib therapy and have the Bcr-Abl T315I mutation.
ChemGenex has established a corporate alliance with Hospira to
develop and commercialize omacetaxine in Europe, the Middle East
and parts of Africa, and is seeking to establish commercial
partnerships in the rest of the world. ChemGenex plans to
commercialize omacetaxine itself in North America. ChemGenex trades
on the Australian Stock Exchange under the symbol "CXS". Please
visit www.chemgenex.com for more information.
About LifeSci Advisors:
LifeSci Advisors (LSA) is a leading research firm and
communications consultancy dedicated to the life sciences industry.
The firm provides strategic counsel, customized marketing
communications, comprehensive research reports and investor
relations services to companies that specialize in the discovery,
development and commercialization of drugs, drug delivery systems,
medical devices and diagnostics. To learn more about LSA, visit the
company’s website, www.lifesciadvisors.com.
Important Disclosures:
The research report described in this press release is not
intended as an offering, recommendation, or a solicitation of an
offer to buy or sell securities. The securities discussed in LSA
research reports may be unsuitable for some investors depending on
their specific investment objectives, financial status, risk
profile, or particular needs. Investors should consider LSA reports
as only a single factor in making their investment decisions and
should not rely solely on these reports in evaluating whether or
not to buy or sell the securities of the subject company. LifeSci
Advisors has been compensated by the company that is the subject of
the report described and future research reports, investor
relations services, and general consulting services. Please read
each report's full disclosures and analyst background on the LSA
website, www.lifesciadvisors.com, before investing. LifeSci
Advisors is not a registered investment adviser or
broker-dealer.
Forward-looking
statements:
This press release contains forward-looking statements subject
to risks and uncertainties that could cause actual results to
differ materially from those projected. These forward-looking
statements represent LSA's judgment as of the date of this release.
LifeSci Advisors disclaims, however, any intent or obligation to
update these forward-looking statements.
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