Pharmacyclics, Inc. (Nasdaq: PCYC) today announced the signing of a five-year Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute (NCI) to collaborate on the development of PCI-32765, a first-in-class, small molecule inhibitor of Bruton's tyrosine kinase (Btk) for the treatment of hematologic malignancies (blood cancers). Under the Agreement, the NCI's Division of Cancer Treatment and Diagnosis (DCTD) plans to sponsor Phase 1 and Phase 2 trials of PCI-32765 in various hematologic malignancies, including non-Hodgkin lymphoma (NHL) and multiple myeloma.
"We are very pleased to be collaborating with the NCI on the development of PCI-32765", said Eric Hedrick, MD, Vice President, Oncology Development of Pharmacyclics." This CRADA represents a major achievement for the company, and allows us to broaden our knowledge of PCI-32765 based on clinical trials to be performed by leading investigators in the field of hematologic malignancies."
"The attainable goal of dramatically reducing the burden of cancer and improving the lives of cancer patients is a postulate Pharmacyclics holds in common with the NCI," said Bob Duggan, Chairman & CEO of Pharmacyclics. "We will continue to work tirelessly until this goal is achieved."
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