UB and Kinex Sign Agreement for Anti-Cancer Drug Development

BUFFALO, N.Y. -- Kinex Pharmaceuticals, a pharmaceutical company located in Buffalo, has signed an exclusive license with the University at Buffalo to develop drugs for the treatment of cancer, osteoporosis, and ischemic disorders.

David Hangauer, Ph.D., associate professor in the Department of Chemistry in the UB College of Arts and Sciences, who also is Kinex senior vice president for research and development, has developed a method for designing and synthesizing a series of anti-cancer compounds called protein kinase inhibitors that shrink tumors and prevent metastases with minimal side effects. These inhibitors have the potential to become a multi-billion dollar market.

"Kinex is targeting src ("sark") kinase and two series of inhibitors have been developed," said Allen Barnett, Ph.D., Kinex CEO. "We feel that by the end of 2004, we'll have a lead compound selected and ready for application as an Investigational New Drug with the FDA."

Barnett noted that within the next two years, Kinex will complete its preclinical research and begin its phase I human studies.

Last fall, Kinex optioned the technology from UB to carry out initial studies and testing and began to raise capital. At the end of July, the company closed on its Series A financing.

"UB researchers make technological breakthroughs that lead to intellectual property that can be commercialized for the public good," said Robert J, Genco, UB interim vice president for research and director of the UB Office of Science, Technology Transfer and Economic Outreach.

"The collaboration between UB and Kinex demonstrates the value of technology transfer in the Buffalo Niagara area. Kinex has the potential to be a life sciences success story for the region."

Kinex was founded in 2003 by Barnett, Hangauer, and Lyn Dyster, Ph.D., who serves as the vice president of drug discovery. All three received their doctoral degrees from UB. Kinex has recruited Johnson Lau, M.D., to serve as chairman of the board. Johnson brings significant scientific and business experience. Most recently, he was chairman, president and CEO of Ribapharm, where he launched the second largest biotech IPO in history.

Kinex Pharmaceuticals is a product-oriented drug discovery company with a unique technology platform and extensive pharmaceutical expertise focusing on Next Generation anti-cancer drug discovery and development, against validated molecular targets. For additional information, go to http://www.kinexpharma.com.