SOUTH SAN FRANCISCO, Calif., Sept. 5 /PRNewswire-FirstCall/ -- SARcode
Corporation, a private company focused on small molecule LFA-1 inhibitors to
treat inflammatory diseases, and Sunesis Pharmaceuticals, Inc. (Nasdaq: SNSS)
today announced SARcode's initiation of a Phase 1 clinical trial of a small
molecule LFA-1 product candidate for T-cell mediated ophthalmic diseases.
Sunesis and SARcode entered into a license agreement providing SARcode with an
exclusive license to Sunesis' LFA-1 technology to develop LFA-1 inhibitors in
March 2006.
"LFA-1 antagonists mediate both migration and adhesion of the white blood
cells to sites of inflammation as part of the body's immune response," said
Tom Gadek, Ph.D., chief executive officer of SARcode Corporation. "Lead
indications for LFA-1 include dry eye and allergic conjunctivitis, both large
indications with unmet medical needs. The results of this study will inform
dose selection for several Phase 2 studies to commence in the first half of
2009."
"We congratulate SARcode on the progress they have made moving this
program forward into the clinic," said Daniel Swisher, chief executive officer
and president of Sunesis. "The LFA-1 inhibitor product candidate, which was
discovered at Sunesis, has the potential to address immunological and
inflammatory diseases, including dry eye syndrome. We look forward to
SARcode's continued advancement of this novel compound."
As part of the license agreement, Sunesis has earned a milestone payment
from SARcode of $500,000 and a $375,000 convertible note. The next payable
milestone, if earned, will be for initiation of the Phase 2 clinical program.
About SARcode
SARcode is a privately-held biopharmaceutical company focused on the
development of best in class small molecule LFA-1 antagonists as novel
nonsteroidal immunomodulators/ anti-inflammatory agents for the treatment of
T-cell mediated inflammatory diseases.
About Sunesis Pharmaceuticals
Sunesis is a clinical-stage biopharmaceutical company focused on the
development and commercialization of new oncology therapeutics for the
treatment of solid and hematologic cancers. Sunesis has built a highly
experienced cancer drug development organization committed to advancing its
lead product candidate, voreloxin, in multiple indications to improve the
lives of people with cancer. For additional information on Sunesis
Pharmaceuticals, please visit http://www.sunesis.com.
Safe Harbor Statement
This press release contains forward-looking statements, including without
limitation statements related to the potential payment of future milestones to
Sunesis under its license agreement with SARcode. Words such as "will,"
"potential," "look forward," "ifs" and similar expressions are intended to
identify forward-looking statements. These forward-looking statements are
based upon Sunesis' current expectations. Forward-looking statements involve
risks and uncertainties. Sunesis' actual results and the timing of events
could differ materially from those anticipated in such forward-looking
statements as a result of these risks and uncertainties, which include,
without limitation, the risk that SARcode's drug development activities could
be halted or delayed significantly for various reasons and the risk that
Sunesis may not receive any future payments from SARcode under the license
agreement. These and other risk factors are discussed under "Risk Factors,"
including the risk factors entitled "The commercial success of products
resulting from our collaborations, if any, depends in whole or in part on the
development and marketing efforts of our collaboration partners, over which we
have limited control. If our collaborations are unsuccessful, our potential to
generate future revenue from the sale of these products would be significantly
reduced" and "If conflicts of interest arise between our collaboration
partners and us, any of them may act in their self interest, which may be
adverse to our interests," and elsewhere in Sunesis' annual report on Form
10-K for the year ended December 31, 2007, its quarterly report on Form 10-Q
for the quarter ended June 30, 2008 and other filings with the Securities and
Exchange Commission. Sunesis expressly disclaims any obligation or undertaking
to release publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in the company's expectations with
regard thereto or any change in events, conditions or circumstances on which
any such statements are based.
SUNESIS and the logo are trademarks of Sunesis Pharmaceuticals, Inc.
SOURCE Sunesis Pharmaceuticals, Inc.
