Avalon Pharmaceuticals Announces their Beta-catenin Inhibitors Demonstrate Potent Cytotoxic Effects in Multiple Myeloma

  
    
  
  
    
      Avalon Pharmaceuticals Inc. (Nasdaq: AVRX), yesterday presented results 
      at the American Society of Hematology (ASH) Annual Meeting on its 
      Beta-catenin pathway inhibitor program.
    
    
      Results show this small molecule compound family has potent inhibitory 
      effects on Wnt/Beta-catenin signaling in Multiple Myeloma (MM) cells. 
      The Beta-catenin pathway is activated in the majority of MM cells, and 
      is known to play a critical role in Myeloma cell survival. The 
      presentation described inhibition of cell growth, decrease in 
      Beta-catenin protein levels and potent induction of apoptosis in Myeloma 
      cells by the Beta-catenin pathway inhibitors. Gene expression biomarkers 
      that report on Beta-catenin pathway inhibition in Myeloma cells were 
      identified and used to monitor Beta-catenin pathway inhibition.
    
    
      “Studies show that inhibition of the 
      Wnt/Beta-catenin pathway could be an effective treatment for many 
      cancers, including Multiple Myeloma,” said 
      Stephen Horrigan, Ph.D., Vice President of Research. “Therefore, 
      we believe that our Beta-catenin pathway inhibitor is a promising 
      candidate for pre-clinical development for hematological cancers.”
    
    
      Optimization of the compound series was developed in less than 12 months 
      by utilizing AvalonRx®, 
      the Company’s proprietary biomarker centric 
      approach which increased the potency of the compounds (>50-fold) 
      on the pathway and led to a series of compounds that have activity in 
      tumor models.
    
    
      Beta-catenin Pathway
    
    
      It is estimated the Beta-catenin pathway is abnormally activated in more 
      than 90% of colon cancers and in a large number of other solid and 
      hematological cancers. Many of these tumor cells have been found to be 
      dependent on the Beta-catenin pathway for survival and to be 
      particularly sensitive to inhibition of this critical pathway. Since the 
      activation of the pathway is dependent on the activity of the 
      Beta-catenin protein, a classically intractable target, Avalon Rx® 
      is particularly well suited for the identification and optimization of 
      drugs targeting this important pathway.
    
    
      AvalonRx®
    
    
      AvalonRx® is a 
      comprehensive, innovative and proprietary suite of technologies based 
      upon large-scale gene expression analysis. This platform facilitates 
      drug discovery by expanding the range of therapeutic targets for drug 
      intervention, including targets and target pathways frequently 
      considered intractable using conventional HTS approaches. It also allows 
      more informed decisions about which compounds to advance towards 
      clinical trials and facilitates drug development through identification 
      of biomarkers of efficacy that can stratify patients or provide early 
      indicators of response.
    
    
      About Avalon Pharmaceuticals
    
    
      Avalon is a biopharmaceutical company focused on the discovery, 
      development and commercialization of first-in-class cancer therapeutics. 
      Avalon’s lead product candidate, AVN944, an 
      IMPDH inhibitor, is in Phase II clinical development. Avalon also has 
      preclinical programs to develop inhibitors of the Beta-catenin and 
      Aurora/Centrosome pathways, discovery programs for inhibitors of the 
      Survivin and Myc pathways and partnerships with Merck, MedImmune, 
      ChemDiv, Medarex, and Novartis. AvalonRx® 
      is the company’s proprietary platform which 
      is based on large-scale biomarker identification and monitoring, used to 
      discover and develop therapeutics for pathways that have historically 
      been characterized as "undruggable." Avalon is headquartered in 
      Germantown, MD.
    
    
      Safe Harbor Statement
    
    
      This announcement contains, in addition to historical information, 
      certain forward-looking statements that involve risks and uncertainties. 
      Such statements reflect the current views of Avalon management and are 
      based on certain assumptions. Actual results could differ materially 
      from those currently anticipated as a result of a number of factors, 
      risks and uncertainties, including those specified under the “Risk 
      Factors” section of our 2006 Annual Report on 
      Form 10-K and updates contained in subsequent filings we make with the 
      Securities and Exchange Commission.