INNOVIVE Pharmaceuticals Initiates INNO-105 Clinical Trial for Treatment of Advanced Solid...

NEW YORK -- INNOVIVE Pharmaceuticals Inc., a biopharmaceutical company headquartered in Manhattan, N.Y., has enrolled the first patients in a Phase I clinical trial of INNO-105 in adult patients with advanced solid malignancies. The objectives of the trial are to determine safety, dose, pharmacokinetic

INNO-105 is a naturally occurring peptide that inhibits cell growth and division by interacting with OGFr, a unique receptor found on the nuclear membrane of a wide range of malignant cells. Preclinical studies have demonstrated antitumor activity in numerous tumor types. In addition, INNO-105 has recently demonstrated antitumor activity in a Phase I pancreatic cancer study conducted at The Hershey Medical Center. The study findings were published in the March 2004 issue of the journal "Anti-Cancer Drugs." The new Phase I study will attempt to further increase the administered dose of INNO-105 and will expose the drug to a wider range of tumor types.

"We are intrigued by the unique mechanism of action of INNO-105 and look forward to exploring its use in our cancer patients," said Casey Cunningham, M.D., Lead Investigator for the study at the Mary Crowley Medical Research Center in Dallas.

INNO-105 is the first drug in the company's portfolio. Over the next year INNOVIVE plans to further expand its pipeline with additional clinical stage compounds.

"We are excited to start the clinical trial for INNO-105 as this represents a significant milestone in the maturation of our company," said Steven Kelly, president and chief executive officer, INNOVIVE Pharmaceuticals Inc.

INNOVIVE Pharmaceuticals licensed the worldwide rights for INNO-105 from The Hershey Medical Center, Pennsylvania State University, earlier this year.

About INNOVIVE Pharmaceuticals

INNOVIVE Pharmaceuticals Inc. is a privately held biopharmaceutical company headquartered in New York. The company's mission is to acquire, develop and commercialize novel therapeutics addressing significant unmet medical needs in the fields of oncology and hematology. For additional information visit www.innovivepharma.com.

This press release contains forward-looking statements that involve risks and uncertainties that could cause INNOVIVE's actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties, which could cause actual outcomes and results to differ materially from these statements. 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 possibility of being unable to obtain regulatory approval of INNOVIVE's product candidates, the risk that the results of clinical trials may not support INNOVIVE's claims, INNOVIVE's reliance on third-party researchers to develop its product candidates and its lack of experience in developing pharmaceutical products. INNOVIVE assumes no obligation to update these forward-looking statements, except as required by law.