CAMBRIDGE, Mass.--(BUSINESS WIRE)--Feb. 3, 2014--
Agios Pharmaceuticals, Inc. (NASDAQ:AGIO), a leader in the fields of
cancer metabolism and inborn errors of metabolism, announced today that
it has elected to retain the United States development and commercial
rights to the isocitrate dehydrogenase 1 (IDH1) program including the
clinical candidate AG-120, in accordance with the terms of its global
strategic collaboration with Celgene Corporation in the field of cancer
metabolism.
“The opportunity to develop and commercialize the IDH1 program in the
U.S. market is a critical component of Agios’ long term strategy and
vision to transform the lives of patients with cancer,” said David
Schenkein, M.D., chief executive officer of Agios. “Celgene has been an
exceptional partner for our cancer metabolism research efforts, and we
are looking forward to the next phase of our collaboration with the
global clinical development of the IDH2 and IDH1 programs.”
By exercising Agios' option to U.S. rights for the IDH1 program, Agios
will lead development and commercialization activities for AG-120 in the
U.S., and Celgene retains the option to lead development and
commercialization activities for AG-120 in the rest of the world. AG-120
is an orally available, selective, potent inhibitor of the mutated IDH1
protein and a highly targeted first-in-class therapeutic candidate for
the treatment of patients with cancers that harbor an IDH1 mutation.
Agios and Celgene are also collaborating on the development of AG-221,
an oral, selective, potent inhibitor of the mutated IDH2 protein, making
it the first targeted therapeutic candidate to treat patients with
cancers that harbor an IDH2 mutation.
About IDH Mutations and Cancer
The connection between cancer and metabolism has been the central focus
of scientists at Agios, who were the first to identify the neo-activity
of IDH1 mutations to produce the oncometabolite 2-HG in research
published in Nature in 2009. These insights revealed the
potential of IDH1 and IDH2 mutations as novel therapeutic targets in
cancer. Mutations in both IDH1 and IDH2 have been linked to numerous
hematologic and solid tumor malignancies.
Agios and its collaborators recently demonstrated that IDH1 and IDH2
mutations initiate and drive cancer growth by blocking differentiation,
also referred to as maturation, of primitive cells. Agios believes that
inhibition of these mutated proteins may lead to clinical benefit for
the subset of cancer patients whose tumors carry these mutations.
About Agios Pharmaceuticals, Inc.
Agios Pharmaceuticals is focused on discovering and developing novel
drugs to treat cancer and inborn errors of metabolism, or IEMs, which
are rare genetic metabolic diseases, through scientific leadership in
the field of cellular metabolism. In addition to an active research and
discovery pipeline across both therapeutic areas, Agios has multiple
first-in-class lead product candidates in cancer metabolism and IEMs in
clinical and/or preclinical development. All Agios programs focus on
genetically identified patient populations, leveraging our knowledge of
metabolism, biology and genomics. For more information, please visit our
website at www.agios.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include those regarding Agios’ expectations
and beliefs about the potential of IDH mutations as therapeutic targets;
the potential benefits of its product candidates AG-221 and AG-120; the
benefits of its collaboration with Celgene; and its plans and
strategies. The words “anticipate,” “believe,” “estimate,” “expect,”
“intend,” “may,” “plan,” “predict,” “project,” “would” and similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these identifying
words. Such statements are subject to numerous important factors, risks
and uncertainties that may cause actual events or results to differ
materially from Agios’ current expectations and beliefs, including risks
and uncertainties relating to: Agios’ ability to successfully commence
and complete necessary preclinical and clinical development of its
product candidates; Agios’ results of clinical trials and preclinical
studies, including subsequent analysis of existing data and new data
received from ongoing and future studies; Agios’ ability to maintain its
collaboration with third parties on acceptable terms; the content and
timing of decisions made by the U.S. FDA and other regulatory
authorities, investigational review boards at clinical trial sites and
publication review bodies; unplanned cash requirements and expenditures;
competitive factors; Agios’ ability to obtain, maintain and enforce
patent and other intellectual property protection for any product
candidates it is developing; Agios’ ability to obtain the substantial
additional capital required to execute its plans and strategies; and
general economic and market conditions. These and other risks are
described in greater detail in filings that Agios makes with the SEC
from time to time including risks described under the caption “Risk
Factors” included in Agios’ Quarterly Report on Form 10-Q for the
quarter ended September 30, 2013. Any forward-looking statements
contained in this press release speak only as of the date hereof, and
Agios expressly disclaims any obligation to update any forward-looking
statements, whether as a result of new information, future events or
otherwise.
Source: Agios Pharmaceuticals, Inc.
For Agios Pharmaceuticals, Inc.
Media:
Dan
Budwick, 973-271-6085
dan@purecommunicationsinc.com
or
Investors:
Glenn
Goddard
investors@agios.com