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September 10, 2004
Kinex Pharmaceuticals Executes Exclusive License with SUNY at Buffalo
Kinex Pharmaceuticals announced today that it entered into an exclusive licensing arrangement with SUNY at Buffalo on September 9, 2004. Under this agreement, Kinex gains rights to worldwide patents that will enable the Company to utilize a proprietary platform to design and synthesize kinase and phosphatase inhibitors. The patents also describe a series of New Chemical Entities (NCE) that form the basis for new drugs to treat cancer and other important diseases.
The subject technology was developed in the laboratory of David G. Hangauer, Ph.D., a professor of chemistry at SUNY Buffalo and a co-founder of Kinex Pharmaceuticals. Hangauer began his work on kinase inhibition during his 10 year tenure at Merck, where he worked in the drug discovery group as a medicinal chemist. He has continued this work over a period of twelve years at SUNY. “The technology that has been licensed to Kinex is ready for scale-up and commercialization. This is an ideal partnership: UB has provided technology to a Company that will bring the capital and management resources necessary to advance a new cancer drug to the clinic”, said Hangauer. “As a scientist, it is very rewarding to experience the translation of many years of work into potentially revolutionary new drugs that have the potential to help thousands of people”, he added.
About Kinex Pharmaceuticals: Kinex Pharmaceuticals, is a product-oriented drug discovery company with a unique technology platform and extensive pharmaceutical expertise focusing on Next Generation anti-cancer drug discovery and development, against validated molecular targets.