Wednesday March 28
LAKE FOREST, Ill.--(BUSINESS WIRE)--March 28, 2001--NeoPharm, Inc. (Nasdaq National Market: NEOL) today announced the filing of an Investigational New Drug Application ("IND") for Liposome Encapsulated Mitoxantrone ("LEM"). This product will be the sixth novel NeoPharm cancer compound to enter clinical testing in the last three years. Mitoxantrone is currently used in the treatment of prostate cancer and multiple sclerosis.
"We now have filed IND's for four products using our proprietary NeoLipid(TM) Electrostatic Liposome Encapsulation Technology platform", said James Hussey, President and Chief Executive Officer of NeoPharm. "By encapsulating mitoxantrone in our proprietary liposomes, we hope to demonstrate a safety and efficacy advantage over unencapsulated mitoxantrone when treating cancer and multiple sclerosis in humans. The pre-clinical studies involving animals have been encouraging. We expect to receive FDA clearance in the near term to initiate the Phase I/II clinical trials later this year at City of Hope National Medical Center and other leading cancer treatment centers."
NeoPharm, Inc., based in Lake Forest, IL, is a publicly traded biopharmaceutical company dedicated to the discovery and commercialization of new and innovative cancer drugs for therapeutic applications. The Company has a broad portfolio of cancer compounds in various stages of development.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to the Company's drug development program and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to difficulties or delays in development, testing, regulatory approval, production and marketing of the Companies' drug candidates, unexpected adverse side effects or inadequate therapeutic efficacy of the Companies' drug candidates that could slow or prevent products coming to market, the uncertainty of patent protection for the Company's intellectual property or trade secrets and other risks detailed from time to time in filings the Company makes with Securities and Exchange Commission including their annual reports of Form 10-K and their quarterly reports on Forms 10-Q. Such statements are based on management's current expectations, but actual results may differ materially due to various factors, including those risks and uncertainties mentioned or referred to in this press release.
NeoPharm, Inc., based
in Lake Forest, IL, is a publicly traded biopharmaceutical company dedicated
to the discovery and commercialization of new and innovative cancer drugs
for therapeutic applications. The Company has a broad portfolio of cancer
compounds in various stages of development.