Important note: Information in this article was accurate in 1995. The state of the art may have changed since the publication date.
PR Newswire - November 17, 1995
In the paper, researchers report that PRO 542 was capable of neutralizing all clinical isolates of HIV tested in vitro, including HIV isolates from different genetic strains of the virus present in the United States, Europe, and around the world. PRO 542 was found to be the most effective compound among a panel of agents tested for their ability to inactivate HIV. The study was conducted by researchers at the Aaron Diamond AIDS Research Center in New York City in collaboration with Progenics and a group of academic investigators.
Progenies also announced it has been awarded $100,000 under Phase I of a Small Business Innovation Research Program (SBIR) grant by the National Institute of Allergy and Infectious Diseases (NIAID). This funding is for commercial development of PRO 542 for the treatment of HIV infection. This award is the Company's seventh SBIR grant to date.
PRO 542, also known as CD4-IgG2, is a novel fusion protein that incorporates the HIV-binding region of the human cell surface receptor for HIV into a human antibody molecule. PRO 542 works by two mechanisms: first, by inhibiting binding of HIV to receptors on target cells; second, by stripping off the virus enveloper glycoprotein, which inactivates the virus.
"The results published in Journal of Virology provide a strong endorsement for rapid development of PRO 542 as an immunotherapy for HIV infection," said Paul J. Maddon, M.D., Ph.D., Progenics' Chairman and CEO. "In addition, the funding through the SBIR program will enable Progenics to accelerate the clinical development of PRO 542."
PRO 542 is designed as an immunotherapy for HIV-infected individuals, to be used alone or in combination with antiviral drugs. It is also being developed as a post-exposure prophylactic therapy, to protect exposed individuals from contracting HIV infection by reducing the concentration of infectious HIV in the bloodstream. Post-exposure applications for PRO 542 include preventing infection of healthcare workers who have been accidentally exposed to the virus, and protecting infants born to HIV-positive mothers from acquiring HIV infection. The Company plans to file an Investigational New Drug application (IND) on PRO 542 and initiate Phase I clinical trials in HIV-infected individuals in 1996.
Progenics Pharmaceuticals, Inc., headquartered in Tarrytown, New York, is a privately held biopharmaceutical company specializing in the development of therapeutics, vaccines, and diagnostics for human viral diseases. A primary focus of Progenies is HIV infection, the cause of AIDS.
CONTACT: Joel D. Sendek, Director, Corporate Development and Investor Relations of Progenics, Inc., 914-789-2800; or Rich Tammero of Noonan-Russo Communications, Inc., 212-696-4455, ext. 222/ 08:30 EST
Copyright (c) 1995/PR NewsWire. Reproduced with permission. Reproduction of this article (other than one copy for personal reference) must be cleared through the Permissions Desk, PR Newswire, 810 Seventh Avenue, New York, NY 10019.
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