Sunesis Pharmaceuticals Announces Preclinical Milestone Payment in BACE Collaboration with Merck
June 12 2006 - 9:30AM
PR Newswire (US)
SOUTH SAN FRANCISCO, Calif., June 12 /PRNewswire-FirstCall/ --
Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) today announced that it
has earned a $4.25 million payment from Merck & Co., Inc. for
meeting certain preclinical milestones in the companies'
collaboration to develop oral small molecule inhibitors of
beta-amyloid converting enzyme (BACE), which is believed to play a
key role in Alzheimer's disease. "Merck and Sunesis have
collaborated for several years to develop oral inhibitors of BACE
that are both potent and able to cross the blood-brain barrier,"
said Merv Turner, Ph.D., Merck Senior Vice President, Worldwide
Licensing and External Research. "We are pleased with the progress
we've made to date and with Sunesis' contributions to our
collaboration." "Alzheimer's is a debilitating disease that affects
an estimated 4.5 million Americans and nearly half of those 85
years of age and older. As the population ages and the number of
Alzheimer's sufferers grows, new treatments for this devastating
disease are urgently needed," noted Daniel Swisher, Chief Executive
Officer and President of Sunesis. "We hope potent oral inhibitors
of BACE may prove to be valuable additions to the treatment of
Alzheimer's disease. This important milestone for Sunesis results
from our strategy of leveraging our discovery research capabilities
in partnership with leading pharmaceutical companies to develop new
treatments of serious diseases, as we have with Merck for
Alzheimer's disease, while focusing our internal small molecule
research and development efforts in oncology." About BACE The
deposition of beta-amyloid peptide in the brain is believed to be a
central event in the development of Alzheimer's disease. This
process is enabled by a key enzyme that cleaves the amyloid
precursor protein into peptide fragments. The fragments aggregate
to form insoluble plaques that inhibit the normal functioning of
the brain. BACE inhibitors may block this cleavage, thereby
preventing the plaque build-up that is a hallmark of Alzheimer's
pathogenesis. About Sunesis Pharmaceuticals Sunesis is a
clinical-stage biopharmaceutical company focused on the discovery,
development and commercialization of novel small molecule
therapeutics for oncology and other serious diseases. Sunesis has
built a broad product candidate portfolio through internal
discovery and in-licensing of novel cancer therapeutics. Sunesis is
advancing its product candidates through in-house research and
development efforts and strategic collaborations with leading
pharmaceutical and biopharmaceutical companies. For additional
information on Sunesis Pharmaceuticals, please visit
http://www.sunesis.com/. Safe Harbor Statement This press release
contains forward-looking statements that involve substantial risks
and uncertainties. Sunesis may not actually achieve the plans,
intentions or expectations contained in such forward-looking
statements. Actual results or events could differ materially from
the plans, intentions and expectations contained in such
forward-looking statements. Sunesis does not assume any obligation
to update any such forward-looking statements. DATASOURCE: Sunesis
Pharmaceuticals, Inc. CONTACT: investors, Eric Bjerkholt, CFO of
Sunesis Pharmaceuticals, Inc., +1-650-266-3717; or media, Karen L.
Bergman or Michelle Corral, both of BCC Partners, +1-650-575-1509
or +1-415-794-8662, for Sunesis Pharmaceuticals, Inc. Web site:
http://www.sunesis.com/
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