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Biotech News
PRESS RELEASE ARCHIVES FROM SEND2PRESS® NEWSWIRE
NOTICE: THIS IS ARCHIVAL CONTENT AND LIKELY OUT OF DATE.
Article Editor: Christopher Laird Simmons
ProteomTech, Inc. Secures Phase II SBIR Grant, for VEGI Anti-angiogenesis Drug Development
EMERYVILLE, CA - August 24, 2004 /Send2Press Newswire/ -- ProteomTech,
Inc. (www.proteomtech-inc.com), a privately held biotech start-up,
announced today that the company has been awarded a $750,000 Phase II SBIR
grant from the National Cancer Institute (NCI) to develop the new anti-
angiogenesis (cancer) protein drug, VEGI - vascular endothelial growth
inhibitor.
"The NCI grant will enable ProteomTech to continue development of this
exciting protein that blocks tumor growth," says Senior Scientist, Dan
Medynski, Ph.D., lead scientist for the VEGI program.
ProteomTech has applied novel methods of expressing, refolding, and
purifying proteins for drug candidates and drug targets for a number of
large pharma and biotech clients throughout the world.
This time the company applied Pt-Fold™ technology , ProteomTech's
patented method for refolding proteins toward the development of the VEGI
protein drug candidate. ProteomTech plans to use the SBIR II funding to
move VEGI through preclinical testing in animals and up through IND
filing. VEGI acts by killing cells that are involved in blood vessel
growth, thereby starving the cancer cells of vital nutrients and oxygen.
It may prove to be a powerful adjunct to existing anti-cancer therapies.
VEGI is different from Avastin™ (bevacizumab), Anti-VEGF - vascular
endothelial growth factor, marketed by Genentech, Inc. of South San
Francisco, CA. in that VEGI operates through a completely separate
cellular mechanism, triggering cell destruction through apoptosis (cell
death) rather than by blocking cell proliferation.
This is the fourth SBIR grant received by ProteomTech, Inc. In 2003 and
2004 the company received three smaller SBIR Phase I grants.
For further information about VEGI and other ProteomTech, Inc. products
under development, please see the ProteomTech Inc. website at
www.proteomtech-inc.com or contact David Hagebush at
hagebush@proteomtech-inc.com.
ProteomTech, Inc., 5980 Horton Street, Suite 405, Emeryville, CA
94608.
Phone: 510-597-9130, Fax: 510-601-6751.
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