A biopharmaceutical company focused on the discovery and development of novel cancer medicines - AVEO Pharmaceuticals, Inc. (8917542) - has acquired an exclusive license to develop and commercialize Kirin Brewery Co. (OTC: KNBWY)'s highly potent and selective, once-a-day, oral VEGF receptor inhibitor, KRN951, in all territories outside of Asia.
Currently undergoing completion of a 30-patient Phase 1 clinical trial in patients with advanced solid tumor, the maximum tolerated dose of KRN951 has been established.
AVEO will commence Phase II clinical studies for KRN951 by mid-2007.
Based on its strong activity signal in the Phase 1 trial, AVEO initially plans to develop KRN951 for the treatment of renal cell carcinoma, but also intends to develop this well-tolerated VEGF receptor inhibitor as a combination treatment in multiple solid tumor types.
In order to indentify optimal chemotherapy combinations, AVEO will apply its unique Human Response Prediction™ Platform and additional patient populations likely to respond to KRN951 monotherapy and combination therapy.
Financial terms of the agreement were not disclosed though.
Find more details from the press release.
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