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RESEARCH TRIANGLE PARK, N.C., Oct. 19, 2009 (GLOBE NEWSWIRE) Icagen, Inc. (Nasdaq:ICGN) today announced that data related to its collaboration with Pfizer focused on certain sodium channels for the treatment of pain and related conditions were presented in two poster presentations at the Neuroscience 2009 Annual Meeting sponsored by the Society for Neuroscience ("SFN") in Chicago, Illinois.
Icagen and Pfizer jointly presented data demonstrating progress in identifying subtype-selective modulators of the sodium channel Nav1.8. This channel is one of three sodium channel pain targets that form the basis of the collaboration. There are extensive preclinical data demonstrating a role for Nav1.8 in modulating pain. However, to date only limited examples of subtype-selective small molecule modulators of Nav1.8 have been described. In collaboration with Pfizer, Icagen presented pharmacokinetic and efficacy data for two novel modulators of this target. These orally bioavailable, use-dependent compounds have excellent in vitro profiles, impact nerve firing, are efficacious in models of inflammatory and neuropathic pain and have acceptable pharmacokinetic and drug-like properties. Overall these data provide further evidence for the feasibility of identifying selective Nav1.8 compounds as potential novel therapeutic agents for the treatment of pain.
"While sodium channel blockers have been used to treat pain for many years, currently available agents are not subtype-selective and therefore are limited by serious side effects," noted Douglas Krafte, Ph.D., VP Biology and Pharmacology at Icagen. "In collaboration with Pfizer, compounds which selectively inhibit one particular subtype of voltage-gated sodium channels, Nav1.8, have been characterized. By blocking only one subtype of these channels it should be possible to identify compounds which demonstrate efficacy in pain with an improved side effect profile as compared with existing therapies. We look forward to continuing this research program with Pfizer as we seek to identify novel clinical compounds for the treatment of pain and related disorders."
About Icagen
Icagen, Inc. is a biopharmaceutical company based in Research Triangle Park, North Carolina, focused on the discovery, development and commercialization of novel orally-administered small molecule drugs that modulate ion channel targets. Utilizing its proprietary know-how and integrated scientific and drug development capabilities, Icagen has identified multiple drug candidates that modulate ion channels. The Company is conducting research and development activities in a number of disease areas, including epilepsy, pain and inflammation. The Company has clinical stage programs in epilepsy and asthma.
The Icagen Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5735
Forward-Looking Statements
This press release contains forward-looking statements that involve a number of risks and uncertainties. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects," "intends," and similar expressions are intended to identify forward-looking statements. Important factors that could cause actual results to differ materially from the expectations described in these forward-looking statements are set forth under the caption "Risk Factors" in the Company's most recent Quarterly Report on Form 10-Q, filed with the SEC on August 7, 2009. These risk factors include risks as to the Company's history of net losses and how long the Company will be able to operate on its existing capital resources; the Company's ability to raise additional funding; general economic and financial market conditions; the Company's ability to maintain compliance with NASDAQ's continued listing requirements; whether the Company's product candidates will advance in the clinical trials process; the timing of such clinical trials; whether the results obtained in preliminary studies will be indicative of results obtained in clinical trials; whether the clinical trial results will warrant continued product development; whether and when, if at all, the Company's product candidates, including ICA-105665 and the Company's other lead compounds for epilepsy and pain and senicapoc for asthma, will receive approval from the U.S. Food and Drug Administration or equivalent regulatory agencies, and for which indications, and if such product candidates receive approval, whether such products will be successfully marketed; and the Company's dependence on third parties, including manufacturers, suppliers and collaborators. We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
CONTACT: Icagen, Inc.
Richard D. Katz, M.D., EVP, Finance and Corporate
Development, Chief Financial Officer
(919) 941-5206
rkatz@icagen.com
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