Data presented at American Society of Hematology 48th Annual Meeting NEW YORK, Dec. 11 /PRNewswire-FirstCall/ -- INNOVIVE Pharmaceuticals, Inc. (OTC:IVPH) (BULLETIN BOARD: IVPH) announced today positive preliminary data from a Phase I study of INNO-406 for the treatment of Gleevec(R) (imatinib)-resistant or intolerant chronic myelogenous leukemia (CML). Early evidence of clinical activity has been demonstrated in Gleevec-resistant and Tasigna(R) (nilotinib)-intolerant patients using hematologic, cytogenetic, and molecular measures. Preclinical data showed that 17 out of 18 mutations of the disease associated with Gleevec-resistance are sensitive to INNO-406, and this preclinical data was demonstrably predictive of the clinical activity reviewed to date. Therapeutically active concentrations of INNO-406 have been achieved in human tissue, and the drug has shown no serious adverse events or clinically relevant adverse events through the first three dose cohorts. INNO-406 is well tolerated at 120 mg/day and the dose escalating study continues in an effort to determine a recommended Phase II dose. Of the six patients who have completed at least one month of treatment, three have evidence of clinical response: * A patient with a chronic phase CML treated with imatinib for 69 months before developing resistant disease with a Y253H mutation has a cytogenetic response after one month of INNO-406 therapy. * A patient with an accelerated phase CML treated with imatinib and nilotinib for 16 and 6 months respectively, before becoming intolerant to nilotinib has maintained a complete hematologic response following three months of INNO-406 therapy at a dose of 60 mg/day. * A patient with a chronic phase CML treated with imatinib for 51 months before developing resistant disease without a mutation has maintained stable white cell counts after 4 months of therapy at a dose of 30-60 mg/day, with a 55-fold reduction in Bcr-Abl transcript levels after one month of INNO-406 therapy. "INNO-406 is a rationally designed dual Bcr-Abl and Lyn kinase inhibitor that is 25 to 55 times more potent than Gleevec," said Steven Kelly, President and CEO of INNOVIVE Pharmaceuticals. "INNO-406 has demonstrated activity in numerous Gleevec-resistant cell lines with greater selectivity than the dual Abl/Src kinase inhibitor dasatinib. We are encouraged by these early results and look forward to reporting complete results from this study in the second quarter of 2007." This Phase I open label intra-patient dose-escalation study is designed to determine the biologically active dose, the maximum tolerated dose and dose limiting toxicity of INNO-406 when administered as a single agent to adult patients with imatinib-resistant or intolerant Philadelphia chromosome- positive leukemias. Patients enrolled in the study are treated with continuous daily oral dosing. Results from this study are expected to determine the safety profile and tolerability of INNO-406 in this patient population for the design of a pivotal Phase II study. About INNO-406 INNO-406 (formerly known as NS-187) is an orally bioavailable, rationally designed, dual Bcr-Abl and Lyn-kinase inhibitor currently in Phase I clinical studies. According to a study published in the journal Blood (Dec. 1, 2005), INNO-406 is 25 to 55 times more potent than imatinib in vitro, and at least 10 times as effective as imatinib mesylate in suppressing the growth of Bcr-Abl bearing tumors. INNO-406 has demonstrated activity in 12 of 13 imatinib- resistant cell lines. In addition to its Bcr-Abl inhibitory properties, INNO- 406 inhibits Lyn kinase. Upregulation of Lyn kinase activity is a well recognized cause of imatinib resistance. Lyn kinase activation has also been documented in a variety of solid tumors, including prostate cancer. About INNOVIVE Pharmaceuticals INNOVIVE Pharmaceuticals, Inc. acquires, develops and commercializes novel therapeutics addressing significant unmet medical needs in the fields of oncology and hematology. In addition to the recently acquired Tamibarotene for acute promyelocytic leukemia, the company has three drug programs in clinical development, INNO-406, INNO-206, and INNO-305, for the treatment of chronic myelogenous leukemia, small cell lung cancer, and acute myelogenous leukemia respectively. For additional information visit http://www.innovivepharma.com/. Forward-looking Statements This material contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These include statements concerning plans, objectives, goals, strategies, future events or performance and all other statements which are other than statements of historical fact, including without limitation, statements containing words such as "believes," "anticipates," "expects," "estimates," "projects," "will," "may," "might" and words of a similar nature. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. Among other things, there can be no assurances that any of INNOVIVE's development efforts relating to its product candidates will be successful. Other risks that may affect forward-looking information contained in this press release include the risk that the results of clinical trials may not support INNOVIVE's claims, the possibility of being unable to obtain regulatory approval of INNOVIVE's product candidates, INNOVIVE's reliance on third party researchers to develop its product candidates and its lack of experience in developing pharmaceutical products. These and other risks are discussed in INNOVIVE'S Registration Statement on Form 10 and its periodic reports filed with the SEC. The forward-looking statements contained herein represent the judgment of INNOVIVE as of the date this material was drafted. INNOVIVE disclaims, however, any intent or obligation to update any forward- looking statements. Gleevec(R) and Tasigna(R) are registered trademarks of Novartis Pharmaceuticals Corporation. DATASOURCE: INNOVIVE Pharmaceuticals, Inc. CONTACT: Steve Kelly, President and CEO of INNOVIVE Pharmaceuticals, +1- 212-716-1820; or Rachel Lipsitz, Media & Investor Relations of Porter Novelli Life Sciences, +1-619-849-5378, for INNOVIVE Pharmaceuticals Web site: http://www.innovivepharma.com/

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