QuatRx Pharmaceuticals licenses portfolio of novel cholesterol drugs

Acquisition of Novel Lipid Compounds With Major Commercial Potential Significantly Expands QuatRx’s Development Pipeline

[Released May 21, 2003]

Ann Arbor, MI and Basking Ridge, NJ—QuatRx Pharmaceuticals Company, a private biopharmaceutical development company focusing on endocrine, metabolic and cardiovascular diseases, today announced that it has acquired exclusive worldwide rights to two novel classes of orally active compounds for the treatment of lipid disorders. QuatRx licensed the compounds from ILEX Oncology, Inc. (Nasdaq: ILXO), a publicly traded biopharmaceutical company headquartered in San Antonio, Texas. These new compounds are designed to treat important lipid abnormalities involving LDL-cholesterol, lipoprotein (a), and HDL-cholesterol. They may potentially be used as single agents or in combination with currently available lipid-lowering drugs. When approved, these products will compete in the rapidly expanding market for lipid-regulating therapies, the largest pharmaceutical product category in the world. Global sales of lipid-regulating drugs are estimated to exceed $20 billion annually.

"These new compounds represent potential breakthrough therapies for the treatment of lipid disorders," said Robert L. Zerbe, M.D., Chief Executive Officer and President of QuatRx. "They hold the promise of providing physicians new and important therapeutic options in this vast and growing category. For QuatRx, this addition to our portfolio represents an outstanding fit considering our team’s experience in developing successful lipid-regulating drugs, including Lipitor^®, the number-one cholesterol medicine in the world."

New Class of Dual Action Lipid-Lowering Agents

The first series of compounds licensed from ILEX is a class of dual action lipid-lowering agents that reduce both LDL-cholesterol and lipoprotein (a), two known independent risk factors for cardiovascular disease. QRX-401, the lead compound in this series, has demonstrated marked lowering of LDL-cholesterol and lipoprotein (a) in primate models and is expected to enter clinical trials within a year.

"Assuming these studies confirm the impressive results seen in primate models, this drug will provide a significant new dimension to the treatment of lipid disorders," said Randall W. Whitcomb, M.D., Chief Medical Officer of QuatRx.

Compounds That Target Low HDL-Cholesterol

The second series of licensed compounds is designed to elevate low levels of HDL (the "good" cholesterol). A low serum level of HDL-cholesterol is widely recognized as an important contributor to cardiovascular disease.

"These compounds represent a novel class of new chemical entities which have demonstrated impressive results in a variety of screening models, including primates," said Stuart L. Dombey, M.D., Chief Scientific Officer of QuatRx. "We look forward to accelerating their development."

QuatRx Portfolio of Drug Candidates Significantly Expanded

The acquisition of these novel lipid compounds significantly expands the roster of potential drug candidates in QuatRx’s development portfolio both in size and scope. The Company’s pipeline also includes novel vitamin D analogues currently in clinical efficacy trials. In January 2003, QuatRx announced the initiation of a Phase II clinical study of a topical formulation of its novel vitamin D analogue, QRX-101, in patients with mild-to-moderate psoriasis. This represents the initial indication for which the drug will be developed. The QRX-101 phase II program involves 120 patients at 12 clinical test centers across the United States. The Company expects to complete this clinical proof of efficacy study before year end.

About QuatRx

QuatRx Pharmaceuticals is a private biopharmaceutical company headquartered in Ann Arbor, Michigan, with offices in Basking Ridge, New Jersey. QuatRx is acquiring and developing novel compounds beginning in the late preclinical stage, through to phase III clinical studies. The Company’s therapeutic focus is on endocrine, metabolic and cardiovascular diseases. Compounds are being acquired from a variety of sources, including other biopharmaceutical companies, academic institutions and large pharmaceutical companies.

QuatRx’s founding venture capital partners are Frazier & Company, based in Seattle, WA, and TL Ventures, located in Wayne, PA. Both of these partners have extensive experience in forming and financing emerging biopharmaceutical companies. These include ViroPharma, Inc., Tularik Inc., CV Therapeutics, Inc. and Adolor Corporation.

Related Topics

Clinical Portfolio / QRX-401

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