MetronomX Announces Closing of Series A Financing

HOUSTON, TEXAS September 15, 2010 – MetronomX, Pte. Ltd. today announced that it has completed a $4 million Series A financing. The proceeds will allow it to develop MNX-100, currently being tested in Phase II clinical trials for relapsed and refractory neuroblastoma and medulloblastoma. The trial is currently enrolling at ten medical centers in the US. Future development plans for MNX-100 include additional clinical trials in other adult cancer indications. MetronomX is also developing MNX-200, a proprietary metronomic formulation of an approved IV cancer chemotherapeutic agent. The initial Phase I trial will be in pediatric patients and is anticipated to begin in 2011.

Typically cancers are treated with high dose chemotherapy, or ‘maximum tolerated dose’ (MTD) treatment protocols. In contrast, metronomic regimens use chronic (over months), equally spaced (usually daily dosing) and generally low dose administration of specific chemotherapeutic drugs without rest periods. The preliminary clinical evidence of at least a dozen studies shows that metronomic therapy can be applied safely and with increased survival and improved quality of life. The clinical endpoint of evaluation is typically an extension of time to tumor progression.

Dr. Danong Chen, CEO of MetronomX, stated “We are excited to be the lead company in development of cost effective and socially responsible metronomic therapies for cancer treatment. The available clinical results with MNX-100 are very encouraging and we are pleased by the expanding network of cancer centers in the US and abroad who are interested in participating in this trial.”