Oncothyreon announces issuance of patent for PX-867

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[{"type":"text","content":"\n\n\n\nBELLEVUE, WA, March 20 /CNW/ - Oncothyreon Inc. (Nasdaq: ONTY) (TSX: ONY)\ntoday announced that the U.S. Patent and Trademark office has issued a patent\nfor PX-867, a small molecule compound currently in preclinical development.\nThe newly issued patent, U.S. Patent No. 7,335,679, includes claims covering\nboth composition of matter of PX-867 and pharmaceutical preparations\ncontaining PX-867.\n\n\nPX-867 is an inhibitor of the phosphatidylinositol-3-kinase\n(PI-3-kinase)/PTEN/Akt pathway, the same pathway targeted by Oncothyreon's\nsmall molecule compound PX-866, which is expected to enter clinical\ndevelopment in 2008. Signaling through this pathway plays a critical role in\nthe survival of cancer cells, and also contributes to a number of other\ndisease states, including cardiovascular disease and autoimmune disease. The\npreclinical development for PX-867 has focused on cardiovascular disease. In\nparticular, the compound has demonstrated activity as a coating on\nintravascular stents in preclinical models of atherosclerotic disease.\n\n\n"We intend to seek a partner to develop PX-867 in non-oncology\nindications, particularly in cardiovascular applications, while focusing our\ninternal development efforts on PX-866 in oncology, our core area of\nexpertise," said Robert L. Kirkman, M.D. President and CEO of Oncothyreon. "We\nexpect to file an Investigational New Drug Application for PX-866 in the\ncoming quarter and to initiate a Phase 1 trial soon thereafter."\n\n\nAbout Oncothyreon\n\n\nOncothyreon is a biotechnology company specializing in the development of\ninnovative therapeutic products for the treatment of cancer. Oncothyreon's\ngoal is to develop and commercialize novel synthetic vaccines and targeted\nsmall molecules that have the potential to improve the lives and outcomes of\ncancer patients. For more information, visit www.oncothyreon.com.\n\n\nForward Looking Statements\n\n\nIn order to provide Oncothyreon's investors with an understanding of its\ncurrent intentions and future prospects, this release contains statements that\nare forward looking, including statements related to filing an IND for PX-866,\nfuture clinical development plans for PX-866, and plans to seek a\ncollaboration partner for PX-867. These forward-looking statements represent\nOncothyreon's intentions, plans, exp...

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