MOUNTAIN VIEW, Calif., April 8 ChemoCentryx, Inc., today announced that it has identified a novel drug candidate targeting the chemoattractant receptor known as ChemR23. This investigational new drug, designated CCX832, is an orally-administered small molecule antagonist of ChemR23, an important player in inflammatory disease. CCX832, which is slated to start clinical development later this year or early next, represents the fourth and final drug candidate under the Company's alliance with GlaxoSmithKline (NYSE: GSK). The acceptance of CCX832 by GSK triggered a $5 million milestone payment to ChemoCentryx.
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"The acceptance by GSK of CCX832 for clinical development highlights the culmination of the research term in our strategic alliance. With this important milestone we have now successfully delivered clinical development candidates for each of the four targets which were defined when we entered into the alliance three and one half years ago," stated Thomas J. Schall, Ph.D., President and Chief Executive Officer of ChemoCentryx. "The nomination of a small molecule antagonist against this novel target underscores our ability to transform cutting edge science into new medicines. We are delighted to demonstrate the broad capability of our proprietary technologies, applicable not only to chemokines, but to related receptors as well."
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About ChemR23/CCX832
The ligand for ChemR23, chemerin, is a widely expressed protein that circulates in human plasma in an inactive state and becomes biologically activated in inflammatory settings. It is believed that chemerin may serve as a biological alarm signal that, under conditions of tissue injury, draws in ChemR23 expressing cells. Diseases such as psoriasis are also associated with elevated levels of chemerin. In preclinical studies, CCX832 has demonstrated the ability to successfully block ChemR23 and interrupt the early steps associated with the development of inflammatory skin disease.
About ChemoCentryx
ChemoCentryx, Inc., is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing orally-administered therapeutics that target the chemokine and chemoattractant systems in order to treat autoimmune diseases, inflammatory disorders and cancer. The chemokine system is a biological network that regulates inflammation via a collection of secreted chemokine molecules, or ligands, and their specific cell surface receptors. Based on its proprietary drug discovery and drug development platform, ChemoCentryx has internally generated multiple clinical and preclinical-stage programs, each targeting distinct chemokine and chemoattractant receptors with different small molecule compounds. ChemoCentryx's lead compound, Traficet-EN, a specific CCR9 antagonist, completed a Phase II/III multi-national clinical trial, called PROTECT-1, in patients with moderate-to-severe Crohn's disease, where it demonstrated the ability to induce a clinical response and to maintain clinical remission over the course of the trial. CCX025, also a CCR9 antagonist, successfully concluded a Phase I clinical program. Additional clinical programs include CCX140, which targets the CCR2 receptor, in Phase II clinical development for the treatment of type 2 diabetes mellitus, CCX354, a CCR1 antagonist in a Phase II clinical trial for the treatment of rheumatoid arthritis and CCX168, a C5aR antagonist, in Phase I clinical development. ChemoCentryx also has several programs in preclinical development. ChemoCentryx is privately held. For more information, please refer to www.chemocentryx.com.
Any statements in this press release about ChemoCentryx's expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and are forward-looking statements. These statements are often, but not always, made through the use of words or phrases such as may, believe, will, expect, anticipate, estimate, intend, predict, seek, potential, continue, plan, should, could and would or the negative of these terms or other comparable terminology. Forward-looking statements are not guarantees of performance. They involve known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to differ materially from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. Some of the risks, uncertainties and assumptions that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include but are not limited to (i) the initiation, timing, progress and results of ChemoCentryx's preclinical studies and clinical trials, (ii) ChemoCentryx's ability to advance product candidates into clinical trials, (iii) GSK's exercise of its license options, (iv) the commercialization of ChemoCentryx's product candidates, (v) the implementation of ChemoCentryx's business model, strategic plans for its business, product candidates and technology, (vi) ChemoCentryx's ability to maintain and establish collaborations or obtain additional government grant funding, (vii) ChemoCentryx's estimates of its expenses, future revenues, capital requirements and its needs for additional financing, (viii) the timing or likelihood of regulatory filings and approvals, (ix) the availability of corporate partners, (x) the scope of protection ChemoCentryx is able to establish and maintain for intellectual property rights covering its product candidates and technology, (xi) the impact of competitive products and technological changes, (xii) the availability of capital and the cost of capital, (xiii) ChemoCentryx's financial performance, (xiv) developments relating to ChemoCentryx's competitors and other vagaries in the biotechnology industry and (xv) other risks.
You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and ChemoCentryx undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.
SOURCE ChemoCentryx, Inc.
