Wednesday, January 23, 2008

Alfacell Signs Onconase Purchase And Supply Deal With Scientific Protein Labs [ACEL]

(ACEL) announced that it has entered into a purchase and supply agreement with Scientific Protein Laboratories LLC or SPL for the commercial production of Onconase or ranpirnase.

Onconase, the company's lead drug candidate, is currently being evaluated as a treatment for unresectable malignant mesothelioma or UMM in a confirmatory Phase IIIb clinical trial.

Kuslima Shogen, chief executive officer of Alfacell, said, “We have been pleased with the superb performance of the extremely well qualified team at SPL for many years and are confident that the commercial production of ONCONASE is in the right hands. This agreement is another step forward for Alfacell as we plan for the commercialization of ONCONASE.”

Onconase is a first-in-class product candidate from Alfacell's proprietary ribonuclease or RNase technology.

In addition to an ongoing Phase IIIb study in malignant mesothelioma, Alfacell is conducting a Phase I/II trial of Onconase in non-small cell lung cancer or NSCLC and other solid tumors.

ACEL is currently trading at $2.40, up 16 cents or 6.95%.


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