[November 30, 2012]

Xcovery's Dual VEGF/PDGFR Inhibitor, X-82 Named to 2012 Top Projects to Watch Hot Space List

Xcovery's lead product X-82, a dual VEGFR/PDGFR inhibitor being studied for both ophthalmology and cancer, has been named to Elsevier Business Intelligence's (EBI) prestigious 2012 Top Projects to Watch list in the Hot Space category for ophthalmology. Xcovery Vision, a subsidiary of Xcovery Holdings, and Tyrogenex, Inc., are privately held companies focused on developing the next generation of eye therapeutics and targeted therapeutics for cancer, respectively.

In related news, Xcovery Vision dosed its first patient in its Phase I/II clinical study to evaluate the safety and preliminary biologic activity/efficacy of X-82 in patients with wet age-related macular degeneration (AMD (News - Alert)). Nauman Chaudhry, MD, of New England Retina Associates in New London, Conn., is the principal investigator.

"We are honored to be named to this exclusive list of therapeutic advances as we begin our clinical study for the ophthalmology indication," said Sheridan G. Snyder, chairman and chief executive officer of Xcovery. "Xcovery is making tremendous progress in the advancement of X-82 for ophthalmology and cancer."

Companies and the products that make the Top Projects to Watch are hand-picked by a panel of independent experts who screen hundreds of compounds and weigh their potential as future products.

The orally administered X-82 targets basic biologic processes, such as inflammation and neovascularization, which are relevant to ophthalmic indications, such as AMD, diabetic retinopathy, dry eye syndrome, ocular allergy, uveitis and postoperative inflammation. In cancer indications, VEGFR tyrosine kinase inhibitors have characteristically demonstrated benefit in a variety of cancers, though it has been well ocumented that the dosage and use of this class in combination with other therapies has been limited by side effects. At the American Society of Clinical Oncology (ASCO) meeting in June, Xcovery presented preliminary data that showed X-82 was well tolerated, did not exhibit any dose-limiting toxicity and demonstrated preliminary signs of anti-tumor activity, including a complete response in a patient with pancreatic cancer and stable disease in five other cancer patients.

"We are encouraged by our preliminary results and this recognition from EBI," said Dr. Liang, who is available for one-on-one partnership meetings at the Therapeutic Area Partnerships Conference. "The data support our hypothesis that X-82 will be a differentiated and ideal product candidate for oral treatment of AMD and combination therapy for cancer."

About Xcovery Vision's Phase I/II Clinical Study
The goal of the Phase I/II study is to assess the preliminary safety of X-82 over a range of doses and evidence of biologic activity as measured by improvement in vision and reduction of subretinal fluid. Patients will also be provided access to the standard-of-care anti-VEGF therapy if they meet specific treatment criteria. Enrollment is planned to begin in October 2012, and the study is expected to last about 12 months.

About AMD
AMD is the leading cause of blindness for people over the age of 50 in the United States and Europe. There are two forms of the disease, namely "dry" and "wet" AMD. The "wet" form is characterized by the growth of new blood vessels into the central region of the retina. These new vessels cause severe visual loss due to retinal damage caused by subsequent leakage and scar formation. Anti-VEGF therapies and photodynamic therapies have been approved for "wet" AMD. "Dry" AMD accounts for up to 90 percent of all cases of AMD. There is no approved therapy for "dry" AMD, which afflicts 8 million patients in the United States and an additional 8 million in Europe. Visual loss in "dry" AMD is typically not as severe as "wet" AMD, however, over time, dry AMD can progress to the wet form of the disease.

About Xcovery Holdings
Xcovery is a holding company focused on the development of next-generation targeted therapeutics for cancer and ophthalmology funded by Biocatalyst International, a closely held early-stage venture fund. Xcovery Holdings has developed a broad portfolio of small molecule kinase inhibitors and has several active collaborations with leading academic and clinical centers to further validate the use of these candidates in a number of disease indications and in various combinations.

About Xcovery Vision
Xcovery Vision is an ophthalmology-focused subsidiary of Xcovery Holdings, a clinical-stage company developing novel therapies for cancer and inflammatory diseases. Xcovery Vision's goal is to develop innovative therapies to address unmet healthcare needs and improve the standard of care in the field of ophthalmology. Xcovery Vision is developing a comprehensive pipeline of ophthalmology therapies that target basic mechanisms of eye disease, including angiogenesis, fibrosis and inflammation.

About Tyrogenex
Tyrogenex is affiliated with Xcovery Holdings. It was founded by Sherry Snyder through Biocatalyst International in partnership with Dr. Chris Liang. Through this partnership, Tyrogenex has developed a novel, patented cancer therapeutic, X-82. The compound, a dual VEGFR/PDGFR inhibitor, is being studies in a clinical trial for the treatment of advanced solid tumors.

About Windhover Conferences
Windhover Conferences is an Elsevier Business Intelligence company, the leading provider of business intelligence and analysis to senior executives in the medical device, pharmaceutical, and biotechnology industries. Through a range of products including publications, conferences, e-learning, databases and reports, Elsevier Business Intelligence places biopharma and medical device professionals, and those who focus on these industries, at the forefront of knowledge, by providing the perfect combination of news and information together with penetrating insight and analysis. Its leading publications include PharmAsia News, IN VIVO and "The Pink Sheet."

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