Pro-Pharmaceuticals engages Numoda Corporation to optimize DAVANAT Phase III clinical trial

Pro-PharmaceuticalsSep 13 2010

Pro-Pharmaceuticals, Inc. (OTC: PRWP), the leading developer of therapeutics that target Galectin receptors to treat cancer and fibrosis, today announced that it has engaged the Numoda Corporation, a leading information, process and logistics management company, to oversee the Phase III clinical trial of DAVANAT^® and 5-FU compared with the standard of care in the treatment of patients with advanced, metastatic colorectal cancer.

“With this collaboration, we will optimize both time and cost, which we believe will provide us positive results, faster, in the continued path to a New Drug Application (NDA) for our DAVANAT® compound”

"With this collaboration, we will optimize both time and cost, which we believe will provide us positive results, faster, in the continued path to a New Drug Application (NDA) for our DAVANAT^® compound," said Theodore Zucconi, PhD., Pro-Pharmaceuticals' Chief Executive Officer. "By engaging Numoda for the management of the trial data and subcontractors, we believe the data accuracy and time for analysis will be significantly less."

Numoda is developing a complete project plan and budget. After approval of the plan, Numoda will be responsible for helping to manage the Pro-Pharmaceuticals clinical trial, including integration, oversight and logistical functions, providing 24x7 visibility through a single interface to all clinical research organizations, contract laboratories and statistical groups' activities and progress.

"Numoda offers extensive systems, tools, experience and powerful resources for executing dependable clinical trials with precision and efficiency as well as managing trial expense," said Peter Traber, M.D., Chief Medical Officer of Pro-Pharmaceuticals. "We are looking forward to this partnership in our endeavor to expedite the Phase III clinical trial for DAVANAT^® as quickly and efficiently as possible."

"Pro-Pharmaceuticals is very fortunate to have someone of the caliber and vision of Dr. Peter Traber to run this program and we are delighted to put our infrastructure, systems and tools at his disposal," said Christopher Mather, Senior Vice President, Business Affairs, Numoda Corporation.