This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

VentiRx Pharmaceuticals Announces Exclusive, Strategic Collaboration For Development Of Novel TLR8 Agonist VTX-2337 With Celgene Corporation

Stocks in this article: CELG

SEATTLE, Oct. 3, 2012 /PRNewswire/ -- VentiRx Pharmaceuticals, Inc., a privately held biopharmaceutical company dedicated to the development of novel Toll-like receptor 8 (TLR8) agonists and antagonists today announced the formation of an exclusive, world-wide collaboration with Celgene Corporation (NASDAQ: CELG) for the development of VTX-2337, a highly potent and selective TLR8 agonist for the treatment of cancer. As part of the strategic agreement, Celgene will retain the exclusive option to acquire VentiRx.

(Logo:   http://photos.prnewswire.com/prnh/20120123/SF39404LOGO)

Under terms of the agreement, Celgene will provide a $35 million upfront payment to fund further research and development of VTX-2337 through pre-defined clinical endpoints. During the option period, VentiRx will be eligible to receive additional funding, including a potential equity investment by Celgene.

"We are excited to have the support of Celgene to advance our development efforts and optimize the potential of VTX-2337 as a novel immunotherapy that augments current treatment regimens," said Robert Hershberg, M.D., Ph.D., Chief Executive Officer of VentiRx. "We have made significant progress to date in preclinical and clinical studies, and this collaboration reflects both the promise of VTX-2337 and the commitment by Celgene to pursue innovation in cancer therapeutics."

"We are enthusiastic about the emerging potential for cancer immunotherapy in general, and view the VentiRx candidate, VTX-2337 as quite promising," said Thomas Daniel, M.D. Celgene President, Research and Early Development. "We look forward to clinical data in combination therapy that would position this candidate drug into a strategic position in our pipeline."

About VTX-2337

VTX-2337 is a novel cancer immunotherapy that directly activates human myeloid dendritic cells (mDCs), monocytes and natural killer (NK) cells resulting in the production of high levels of mediators known to orchestrate the integration of innate and adaptive anti-tumor responses. Results demonstrate that the direct activation of mDCs by VTX-2337 results in a uniquely robust production of inflammatory cytokines and chemokines that increase cell mediated immunity and potentially enhance the anticancer effect of standard chemotherapy. Additionally, VTX-2337 has a direct effect on NK cells and augments antibody dependent cellular toxicity (ADCC), which supports the opportunity of combining VTX-2337 with monoclonal antibodies where ADCC contributes to clinical efficacy. VentiRx has advanced VTX-2337 into clinical trials designed to evaluate the compound in multiple oncology indications in combination with a variety of anticancer agents, including chemotherapy and monoclonal antibody therapy.  

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs