New York, Feb. 3 /PRNewswire-FirstCall/ -- AngioGenex Inc. (OTC Bulletin Board: AGGX.OB) is a New York-based biotechnology company that is pioneering the targeting of Id genes and proteins for the discovery and development of anti-angiogenic drugs to treat cancer. Today the Company announced that it presented animal data at two recent scientific meetings that demonstrate the ability of its lead small molecule candidate drug AGX51 to mitigate tumor formation and metastases.
Dr. Robert Benezra, the scientific founder of AngioGenex and Head of the Company's Scientific Advisory Board presented at the Keystone Symposium held January 1-6 in Big Sky, Montana on Angiogenesis and Lymphangiogenesis in Cancer, and Dr. William Garland, the Company's CEO, presented at the PepTalk meeting held January 11-16 in San Diego, California.
Besides AGX51, both speakers also touted the continually emerging importance of Id in the development and progression of cancer and the therapeutic potential of the novel, anti-Id oligonucleotides invented by Dr. Benezra. An initial report on one of these oligonucleotides (AGX1053) appeared last year in Nature Biotechnology 2008; 26: 91-100.
AngioGenex is currently pursuing the preclinical development of its small, patented molecules and oligonucleotides that have potent anti-angiogenic / anti-tumor activity through inhibition of the action of the Id proteins. The Chairman of the Board of AngioGenex, Dr. Richard Salvador, commented that "information accruing on the control of new blood vessel formation into tumors by the Id genes and proteins confirms that drugs that inhibit their activity, such as AGX1053 and AGX51, are the first in a class of new and unique anti-tumor agents. With sufficient funding we plan to have both drugs in man in 9 to 12 months. Our technology offers a potentially more effective and, therefore, a more cost effective anti-angiogenic based therapy for cancer than Avastin, the current leader in this therapeutic area. A new approach is needed because of increasing data-supported concerns about the high cost of Avastin relative to the limited increase in the lifespan of patients gained with its use."
Company Profile: AngioGenex, Inc. is actively engaged in the discovery, acquisition and development of anti-cancer molecules that act by inhibiting either the Id genes or proteins to prevent the formation of new blood vessels into tumors (angiogenesis). The Company's technology is based on the research of Dr. Robert Benezra and his colleagues at the Memorial Sloan Kettering Cancer Center (MSKCC) in New York City who established that activation of the Id genes is required for the formation of new blood vessels into tumors, allowing tumors to grow and metastasize. Dr. Benezra demonstrated that the absence of the Id genes in animals results in a highly significant inhibition of tumor growth and a reduction in the size of mature tumors. The research of Dr. Benezra on the role of the Id genes in tumor formation has been widely recognized for its important therapeutic implications.
This press release may contain forward-looking statements that involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties related to the ability of AngioGenex to raise subsequent, substantial additional financing, to complete clinical development of AngioGenex products, and the ability of the Company to successfully develop and market AngioGenex products and technologies. These statements represent the judgment of management as of this date and are subject to risks and uncertainties that could materially affect the Company. AngioGenex undertakes no obligation to publicly release the results of any revisions to such forward-looking statements that may be made to reflect recent events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE AngioGenex Inc.