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news.Poniard Pharmaceuticals, a biopharmaceutical company engaged in the development of oncology products, has signed an agreement with Baxter Oncology for the commercial manufacture and supply of injectable picoplatin drug product.
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Poniard is developing picoplatin, its lead product candidate, as a potential new platform product for the treatment of solid tumors. The company is evaluating picoplatin in four clinical trials, including an ongoing pivotal Phase III trial in small cell lung cancer, Phase II trials in colorectal and prostate cancers, and a Phase I trial of an oral formulation.
Poniard has previously entered into an agreement with W C Heraeus to manufacture picoplatin active pharmaceutical ingredient (API) and be ready to ship commercial quantities of picoplatin by 2009. Heraeus is the current manufacturer of picoplatin API for the company’s four ongoing clinical trials.
Ronald Martell, president and COO of Poniard, said: “This agreement with Baxter Oncology for the commercial supply of picoplatin represents the achievement of another important milestone in our plan to develop picoplatin as an oncology platform compound addressing multiple indications, combinations and formulations.
“Baxter Oncology’s technology and finish/fill production capabilities will help ensure we meet our production and quality goals as we move toward commercialization of picoplatin in 2010.”