Avalon Pharmaceuticals Nominates Lead Clinical Development Candidate in its Beta-catenin Pathway Inhibitor Program

  
    
  
  
    
      Avalon Pharmaceuticals, Inc. (Nasdaq:AVRX), announced today the 
      nomination of AVN316 as a lead clinical development candidate in its 
      Beta-catenin Pathway Inhibitor program. This novel compound inhibits the 
      Beta-catenin pathway and is a potent inducer of cancer cell death. The 
      Company plans to begin clinical testing of AVN316 in patients in 2009.
    
    
      Beta-catenin is one of the most commonly activated cancer pathways and 
      is known to play a key role in the initiation and progression of cancer. 
      The Beta-catenin pathway is upregulated in a large number of different 
      cancer types, in particular colon cancer, where it has been estimated to 
      be abnormally activated in at least 90 percent of cases.
    
    
      “The biological complexity and the classically 
      intractable nature of the beta-catenin protein have prevented this 
      pathway from being effectively targeted by conventional drug discovery 
      techniques, despite the efforts of numerous pharmaceutical companies,” 
      stated Kenneth Carter, Ph.D., President and CEO of Avalon 
      Pharmaceuticals, Inc. “We are very pleased to 
      name AVN316 as the lead compound for this intractable target, which we 
      believe provides validation for our unique drug discovery platform, 
      AvalonRx®.”
    
    
      Using AvalonRx®, the Company identified 
      several chemical compound series that inhibit beta-catenin function. One 
      family of structurally distinct chemical compounds potently 
      down-regulate the Beta-catenin pathway by reducing beta-catenin protein 
      levels. This lead compound series (of which AVN316 is a member) 
      decreases the beta-catenin protein levels in cancer cells and xenograft 
      tumors, induces biomarkers of Beta-catenin pathway inhibition, and 
      inhibits tumor growth. AVN316 was chosen from the series for its potency 
      and tumor growth inhibition properties in animal models of human 
      disease. Near-term activities with AVN316 include toxicology studies and 
      large-scale manufacturing in preparation for IND submission to the FDA.
    
    
      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.
    
    
      About 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, 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.
    
    
      Safe Harbor Statement
    
    
      This announcement contains, in addition to historical information, 
      certain forward-looking statements that involve risks and uncertainties 
      including Avalon’s plans to conduct 
      toxicology studies and large scale manufacturing of AVN316 in 
      preparation for an IND filing with the FDA and the Company’s 
      plans to begin clinical testing of AVN316 in patients in 2009. 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 2007 Annual Report on 
      Form 10-K and updates contained in subsequent filings we make with the 
      Securities and Exchange Commission.