Berkeley Heights, NJ, January 6, 2011 - Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC, NASDAQ: CYCCP; "Cyclacel" or the "Company") today reviewed 2010 achievements and outlined the Company’s key clinical development objectives for 2011, which will be highlighted at the Company’s presentation during the 4th Annual OneMedForum Business Development and Investment Conference at 11:30 am Pacific Time on January 11, 2011, at the Sir Francis Drake Hotel in San Francisco.
"We have demonstrated sapacitabine’s single-agent potential when administered as a front-line therapy to elderly patients with acute myeloid leukemia (AML) and older patients with myelodysplastic syndromes (MDS) refractory to the hypomethylating agents, azacitidine and/or decitabine. We are looking forward to the initiation of our pivotal Phase 3 "SEAMLESS" trial in AML being conducted under a Special Protocol Assessment (SPA)," said Spiro Rombotis, President and Chief Executive Officer of Cyclacel. "During 2010 numerous publications and presentations highlighted Cyclacel’s innovative and diverse oncology targeted pipeline. We will continue to work diligently in 2011 to achieve our key clinical development objectives."
Review of 2010 Accomplishments
Seliciclib and Second Generation CDK Inhibitors
Key 2011 Clinical Development Objectives
As of September 30, 2010, the Company had $18.5 million in cash, cash equivalents and short-term investments, compared to $11.5 million as of December 31, 2009. Cash, cash equivalents and short-term investments do not include $14.1 million in net proceeds received from the private placement completed in October 2010.
For the live and archived webcast, please visit the Corporate Presentations page on the Cyclacel website at www.cyclacel.com. The webcast will be archived for 90 days and the audio replay for 7 days.
About Cyclacel Pharmaceuticals, Inc.
Cyclacel is a biopharmaceutical company developing oral therapies that target the various phases of cell cycle control for the treatment of cancer and other serious diseases. Three product candidates are in clinical development. Sapacitabine (CYC682), a cell cycle modulating nucleoside analog, will be entering Phase 3 development for the treatment of acute myeloid leukemia in the elderly under a Special Protocol Assessment agreement with the U.S. Food and Drug Administration, and is in Phase 2 studies for myelodysplastic syndromes and lung cancer. Seliciclib (CYC202 or R-roscovitine), a CDK (cyclin dependent kinase) inhibitor, is in Phase 2 studies for the treatment of lung cancer and nasopharyngeal cancer and in a Phase 1 trial in combination with sapacitabine. CYC116, an Aurora kinase and VEGFR2 inhibitor, is in a Phase 1 trial in patients with solid tumors. Cyclacel’s ALIGN Pharmaceuticals subsidiary markets directly in the U.S. Xclair® Cream for radiation dermatitis, Numoisyn® Liquid and Numoisyn® Lozenges for xerostomia. Cyclacel’s strategy is to build a diversified biopharmaceutical business focused in hematology and oncology based on a portfolio of commercial products and a development pipeline of novel drug candidates. Please visit www.cyclacel.com for additional information.
This news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include statements regarding, among other things, the efficacy, safety, and intended utilization of Cyclacel's product candidates, the conduct and results of future clinical trials, plans regarding regulatory filings, future research and clinical trials and plans regarding partnering activities. Factors that may cause actual results to differ materially include the risk that product candidates that appeared promising in early research and clinical trials do not demonstrate safety and/or efficacy in larger-scale or later clinical trials, the risk that Cyclacel will not obtain approval to market its products, the risks associated with reliance on outside financing to meet capital requirements, and the risks associated with reliance on collaborative partners for further clinical trials, development and commercialization of product candidates. You are urged to consider statements that include the words "may," "will," "would," "could," "should," "believes," "estimates," "projects," "potential," "expects," "plans," "anticipates," "intends," "continues," "forecast," "designed," "goal," or the negative of those words or other comparable words to be uncertain and forward-looking. For a further list and description of the risks and uncertainties the Company faces, please refer to our most recent Annual Report on Form 10-K and other periodic and current filings that have been filed with the Securities and Exchange Commission and are available at www.sec.gov. Such forward-looking statements are current only as of the date they are made, and we assume no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact for Cyclacel Pharmaceuticals, Inc.
Corey Sohmer, (908) 517-7330
© Copyright 2011 Cyclacel Pharmaceuticals, Inc. All Rights Reserved. The Cyclacel logo and Cyclacel® are trademarks of Cyclacel Pharmaceuticals, Inc. Numoisyn® and Xclair® are trademarks of Sinclair Pharma plc. Femara® is a trademark of Novartis Pharmaceuticals Corporation. Herceptin® is a trademark of Hoffmann-La Roche Inc. ISTODAX® is a trademark of Celgene Corporation.