Wednesday, July 30, 2008

Ariad collects $15M to start breast cancer treatment trial

By Mass High Tech Staff

Ariad Pharmaceuticals Inc. landed a $15 million milestone payment from Merck & Co. Inc. for initiating a Phase 2 trial of deforolimus (previously known as AP23573), for the treatment of advanced breast cancer. In 2007, Ariad Pharmaceuticals reported it had entered into the global collaboration with Merck in a deal worth up to $1.1 billion in potential payments.

The Cambridge-based biotech is partnering with Merck & Co. (NYSE:MRK) on the development of oral deforolimus, an mTOR inhibitor being investigated for a multitude of cancer types. The company describes the mTOR protein as a potential “master switch” for starving cancer cells. The trial will enroll 33 women with metastatic, HER2-positive breast cancer who have been resistant to the monoclonal antibody drug Herceptin (trastuzumab).

Women with tumors that test positive for the HER2 protein (human epidermal growth factor receptor-2) have benefited from the treatment of Herceptin. Ariad & Merck’s deforolimus is being investigated for patients who have developed a resistance to the treatment.

Ariad stated it anticipated completing the trial by mid-2009 and plans to launch two additional trials with the drug for endometrial and prostate cancer by the end of the year.

Last year Ariad reported a net loss of $58 million on $3.5 million in revenue.