Oncothyreon to receive milestone payment

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[{"type":"text","content":"\n\n\n\nBELLEVUE, WA, May 14 /CNW/ - Oncothyreon Inc. (Nasdaq: ONTY) (TSX: ONY)\n(the "Company") today announced that it has completed the transfer of certain\nassays and manufacturing technology related to Stimuvax(R) (BLP25 liposome\nvaccine) to Merck KGaA of Darmstadt, Germany, triggering a payment to\nOncothyreon of $3 million. The payment will be made under the terms of the\namended and restated supply agreement signed in August 2007.\n\n\nStimuvax is an investigational therapeutic cancer vaccine designed to\ninduce an immune response to cancer cells that express MUC1, a glycoprotein\nantigen widely expressed on common cancers. Merck KGaA currently is conducting\na global Phase 3 trial of Stimuvax known as START (Stimulating Targeted\nAntigenic Responses To NSCLC). START is a randomized, double-blind,\nplacebo-controlled study that will evaluate patients with documented\nunresectable stage III NSCLC who have had a response or stable disease after\nat least two cycles of platinum based chemo-radiotherapy. The trial is\nexpected to enroll more than 1,300 patients in approximately 30 countries. For\nmore information on the START trial, or to find a participating center and\neligibility criteria, log on to www.nsclcstudy.com or www.clinicaltrials.gov.\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 payments Oncothyreon may\nexpect to receive; the therapeutic and commercial potential of Stimuvax;\nfuture clinical development plans; the details of clinical trials; and the\nanticipated future size of the market for Stimuvax. These forward-looking\nstatements represent Oncothyreon's intentions, plans, expectations and beliefs\nand are based on its management's experience and assessment of historical and\nfuture trends and the application o...

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