Strong momentum from 2017 fuels strong start for Athenex in 2018
BUFFALO, N.Y., Feb. 13, 2018 (GLOBE NEWSWIRE) -- Athenex, Inc. (Nasdaq:ATNX), a global biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies for the treatment of cancer and related conditions, today announced recent product launches from Athenex Pharmaceutical Division (“APD”). These launches highlight the continued portfolio growth with an emphasis on oncology or oncology supportive therapy, a business strategy of Athenex’s commercial business as an effective supplement to its progressing clinical pipeline focused on oncology.
Athenex has brought the following products to market in its 503B (outsourced sterile preparations) and Specialty (finished-dose specialty injectable products) businesses:
- Epinephrine 2 mg and 4 mg in 250 mL in 0.9% Normal Saline (2 SKUs)
- Norepinephrine 4 mg and 8 mg in 250 in 0.9% Normal Saline (2 SKUs)
- Caspofungin Acetate for Injection 50 mg per vial; 70 mg per vial (2 SKUs; vials)
- Doxorubicin 5 mL, 25 mL, 100 mL; (3 SKUs; vials)
- Etomidate Injection 20 mg per 10 mL; 40 mg per 20 mL; (2 SKUs; vials)
- Gemcitabine for Injection 1 mg (1 SKU; vials)
- Paclitaxel Injection 30 mg per 5 mL; 100 mg per 16.7 mL; 300 mg per 50 mL; (3 SKUs; vials)
Jeffrey Yordon, Athenex’s Chief Operating Officer and President of APD, commented, “These product launches underscore a continuation of our ongoing commitment to bring needed, quality oncology products to market on both the 503B and Specialty Injectables sides of our business. As part of a broader effort to build our commercial platform and capabilities, we will continue to look for opportunities to bring additional products focused mainly on oncology and oncology supportive care therapies to our customers throughout 2018 as well as generate additional revenue to help fund our clinical programs.”
Athenex is committed to quality and product labeling innovation. cGMP processes are followed for each of Athenex’s products, and a Certificate of Analysis is provided for each batch of 503B products so customers are able to see measurable results from repeatable tests. Additionally, Athenex’s AccuraSEE, a proprietary and highly differentiated approach to package and labeling, has a unique design to give caregivers accurate information and reduce the risk of medication errors.
About Athenex, Inc.
Founded in 2003, Athenex, Inc. is a global clinical stage biopharmaceutical company dedicated to becoming a leader in the discovery and development of next generation drugs for the treatment of cancer. Athenex is organized around three platforms, including an Oncology Innovation Platform, a Commercial Platform and a Global Supply Chain Platform. Athenex’s Oncology Innovation Platform generates clinical candidates through an extensive understanding of kinases, including novel binding sites and human absorption biology, as well as through the application of Athenex’s proprietary research and selection processes in the lab. The Company’s current clinical pipeline is derived from two different platform technologies Athenex calls Orascovery and Src Kinase Inhibition. The Orascovery platform is based on the novel oral P-glycoprotein pump inhibitor molecule HM30181A, through which Athenex is able to facilitate oral absorption of traditional cytotoxics, which Athenex believes may offer improved patient tolerability and efficacy as compared to IV administration of the same cytotoxics. The Orascovery platform was developed by Hanmi Pharmaceuticals and licensed exclusively to Athenex for all major worldwide territories except Korea, which is retained by Hanmi. The Src Kinase Inhibition platform refers to novel small molecule compounds that have multiple mechanisms of action, including the inhibition of the activity of Src Kinase and the inhibition of tubulin polymerization during cell division. Athenex believes the combination of these mechanisms of action provides a broader range of anti-cancer activity as compared to either mechanism of action alone. Athenex’s employees worldwide are dedicated to improving the lives of cancer patients by creating more active and tolerable treatments. Athenex has offices in Buffalo and Clarence, New York; Cranford, New Jersey; Houston, Texas; Chicago, Illinois; Hong Kong; Taipei, Taiwan and multiple locations in Chongqing, China.
Forward-Looking Statement Disclaimer/Safe Harbor Statement
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the development stage of our primary clinical candidates and related risks involved in drug development, clinical trials, regulation, manufacturing and commercialization; our need to raise additional capital; competition; intellectual property risks; risks relating to doing business in China; and the other risk factors set forth from time to time in our SEC filings, copies of which are available for free in the Investor Relations section of our website at http://ir.athenex.com/phoenix.zhtml?c=254495&p=irol-sec or upon request from our Investor Relations Department. We assume no obligation and do not intend to update these forward-looking statements, except as required by law.