Rexahn Pharmaceuticals In-Licenses Novel Oligonucleotide Targeted Drug Delivery Platform from Ohio State University
Lipid-Coated Albumin Nanoparticle (LCAN) platform improves safety and maximizes efficacy of oligonucleotide molecules
ROCKVILLE, Md.--(BUSINESS WIRE)--October 10, 2013--
Rexahn Pharmaceuticals, Inc. (NYSE MKT: RNN), a clinical stage biopharmaceutical company, announced today that it has signed an exclusive license agreement with the Ohio State Innovation Foundation, an affiliate of The Ohio State University, for a novel oligonucleotide drug delivery platform, Lipid-Coated Albumin Nanoparticle (LCAN), developed at The Ohio State University College of Pharmacy. In preclinical studies, the LCAN platform has demonstrated the ability to deliver oligonucleotide compounds into cancer tumors, which can result in improved safety and efficacy. Rexahn's first preclinical candidate to be developed with this delivery platform will be RX-0201-nano.
"The LCAN platform allows Rexahn to specifically target cancer tumors with oligonucleotides in a way that increases potency and reduces side effects, and is a broad platform that has the ability to generate multiple therapeutic candidates going forward. We will initially move forward with RX-0201-nano as the first candidate from the LCAN platform, and we anticipate entering the clinic with the first candidate within two years," stated Peter D. Suzdak, Ph.D., Rexahn's Chief Executive Officer. "Furthermore, the platform also offers Rexahn the ability to use this delivery platform to enhance and create additional next generation oligonucleotide therapies."
LCAN incorporates both cationic lipid and a cationized albumin that can form an electrostatic complex with oligonucleotides and be co-encapsulated by lipids. It also has a targeting moiety conjugated on the surface to direct the LCAN directly to the cancer tumors. RX-0201-nano is a nanoliposomal Akt1 inhibitor, similar to the Company's Archexin(R) which may be effective in solid tumors and hematological malignancies and has shown high efficiency and good stability in preclinical studies.
Robert J. Lee, Ph.D., researcher at The Ohio State University College of Pharmacy and the inventor of the LCAN technology, commented, "The LCAN platform represents a significant advancement in targeted delivery of oligonucleotides to cancer tumors. Other types of formulation approaches have been tried in the past but none offered such potent activity for the targeted delivery of an oligonucleotide to the cancer tumor."
About Rexahn Pharmaceuticals, Inc.
Rexahn Pharmaceuticals is a clinical stage biopharmaceutical company dedicated to developing best-in-class therapeutics for the treatment of cancer. Rexahn currently has three clinical stage oncology candidates, Archexin(R), RX-3117, and RX-5902 and a robust pipeline of preclinical compounds to treat multiple types of cancer. Rexahn has also developed proprietary drug discovery platform technologies in the areas of Nano-Polymer-Drug Conjugate Systems (NPDCS), nano-medicines, 3D-GOLD, and TIMES. For more information, please visit www.rexahn.com.
About The Ohio State University College of Pharmacy
Established in 1885, The Ohio State University College of Pharmacy is a leader in pharmaceutical education, research and clinical practice. As part of one of the most comprehensive health sciences campuses in the nation, the college is home to world-class faculty, dedicated researchers and top students who are leading the way in pharmacy education, practice and research. The college's graduate programs are currently ranked 7(th) in the nation by U.S. News & World Report.
About The Ohio State University:
Ohio State is a dynamic community of diverse resources, where opportunity thrives and where individuals transform themselves and the world. Founded in 1870, The Ohio State University is a world-class public research university and the leading comprehensive teaching and research institution in the state of Ohio. With more than 63,000 students (including 57,000 in Columbus), the Wexner Medical Center, 14 colleges, 80 centers, and 175 majors, the university offers its students tremendous breadth and depth of opportunity in the liberal arts, the sciences, and the professions.
Safe Harbor
To the extent any statements made in this press release deal with information that is not historical, these are forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about Rexahn's plans, objectives, expectations and intentions with respect to future operations and products and other statements identified by words such as "will," "potential," "could," "can," "believe," "intends," "continue," "plans," "expects," "anticipates," "estimates," "may," other words of similar meaning or the use of future dates. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties and risks may cause Rexahn's actual results to be materially different than those expressed in or implied by Rexahn's forward-looking statements. For Rexahn, particular uncertainties and risks include, among others, the difficulty of developing pharmaceutical products, obtaining regulatory and other approvals and achieving market acceptance; the marketing success of Rexahn's licensees or sublicensees; the success of clinical testing; and Rexahn's need for and ability to obtain additional financing. More detailed information on these and additional factors that could affect Rexahn's actual results are described in Rexahn's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q. All forward-looking statements in this news release speak only as of the date of this news release. Rexahn undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
CONTACT: The Trout Group LLC
Tricia Truehart, 646-378-2953
SOURCE: Rexahn Pharmaceuticals, Inc.