Oslo, Norway, 24 August 2007
Clavis Pharma ASA continued its research and development focus during the second quarter 2007, with three cancer drug candidates in development.
Clavis Pharma has initiated a Phase II combination study of ELACYT(TM) and Nexavar(TM) (sorafenib) in previously treated malignant
melanoma patients. This is an important development, and the first clinical trial where ELACYT is used in combination with
another cancer drug. In the second quarter, the ELACYT Clinical Phase II study in metastatic colorectal cancer has progressed
according to plan, with patient recruitment ongoing at three centres in the UK.
The work with ELACYT in blood cancers has been further intensified in the second quarter. The Company has received positive
indication from the European Agency for Evaluation of Medicinal Products (EMEA) on its application for Orphan Drug Designation
for ELACYT in acute myeloid leukemia (AML). Clavis Pharma expects a confirmation during the third quarter of 2007.
For the second drug candidate, CP-4126, the ongoing Clinical Phase I study in solid tumours is reaching its final stage, and
the Phase II program is currently in preparation. Clavis Pharma has initiated an oral development program for CP-4126. Formulation
development and preclinical activities are ongoing. Oral chemotherapy is expected to have a substantial growth potential within
cancer treatment.
Clavis Pharma reported a loss of NOK 11.1 million in the quarter, compared with NOK 18.8 million in the same period last year.
The Company maintains a solid cash position, with cash and cash equivalents of NOK 193.3 million at 30 June 2007.
For further information, please contact:
Tom Pike, CEO (tom.pike@clavispharma.com) or
Gunnar Manum, CFO (gunnar.manum@clavispharma.com)
Tel: +47 24 11 09 50