To be known as SuperGen no more

By Staff and Wire Reports

Friday, 02 September 2011 06:33

This morning, SuperGen, Inc. (NASDAQ:SUPG), the pharmaceutical company dedicated to the discovery and development of novel cancer therapies, announced that it anticipates that it will begin operating under the name Astex Pharmaceuticals, Inc. on September 12, 2011.

The name change follows the previously announced closing of its acquisition of Astex Therapeutics Limited, a privately held, UK-based biotechnology company developing targeted therapies. Astex Pharmaceuticals, Inc. is expected to begin trading on NASDAQ under the symbol ASTX on September 12, 2011.

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SuperGen was founded on March 6, 1991, with a mission to improve the quality and ultimately, save the lives of people afflicted with life-threatening diseases, especially cancer. The company owns a broad portfolio of proprietary cancer therapies that target a variety of solid tumors, hematological malignancies and blood disorders. Its proprietary discovery engine Climb(TM), promises to change the paradigm of drug discovery, by reducing the time and cost required to move from target validation to lead identification and IND-enabling studies. Its approach to small molecule drug discovery merges rapid screening of compound libraries with computational chemistry and systems biology techniques to identify drug leads that bind to target proteins.

SuperGen's product pipeline includes: MP470, a multi-targeted tyrosine kinase inhibitor indicated for the treatment of solid tumors; SGI-1776, a PIM Kinase Inhibitor indicated for the treatment of acute myelogenous leukemia; SGI-110, a DNMT1 inhibitor indicated for the treatment of cancer; etc.

SuperGen has agreements with Horizon Discovery, Ltd., Targa Therapeutics Corp., GlaxoSmithKline plc, Intas Pharmaceuticals Ltd., and others. The BioMedReports Trade Catalyst Calendar shows only one upcoming milestone/catalyst for the company, but that is not scheduled to take place until the 2nd half of 2012.

James S.J. Manuso, Ph.D., chairman and chief executive officer, and Harren Jhoti, Ph.D., president, will present at the Rodman & Renshaw 13th Annual Healthcare Conference on Monday, September 12th in New York as Astex Pharmaceuticals, Inc., subject to final legal and NASDAQ listing approvals.

The Company's presentation will begin at 11:40 a.m. ET. A live webcast of the presentation will be available in the Investor Events section of the Company's website. The webcast will be archived for 30 days.

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