Thallion Pharmaceuticals Inc has suspended patient enrolment in its phase-II trial evaluating TLN-232 as a treatment for metastatic melanoma, due to an ongoing dispute with the licensor. A binding arbitration proceeding has been initiated and Thallion will re-evaluate the status of the program based on the outcome of the adjudication.
"Based on our experience with this licensor, it is in the best long-term interests of our shareholders to suspend development of TLN-232 as opposed to investing additional resources to develop the product under recurring allegations of breach from the licensor and ensuing disputes over a termination of the license," said Lloyd M Segal, chief executive officer of Thallion Pharmaceuticals Inc. "We believe that the assertions made against us under the license agreement are without merit. We will vigorously defend our rights in this matter, and we intend to pursue claims of our own against the licensor during the proceedings. We believe this decision represents the most responsible course of action and is especially prudent in light of today's constrained capital environment."
TLN-232 is a novel seven amino-acid peptide with potential efficacy in multiple oncology indications and targets pyruvate kinase M2 (M2PK), a protein shown to be over-expressed in a number of different tumour types. The expression of M2PK during tumourigenesis has been shown recently to mediate the Warburg effect, a phenotype in which cancer cells utilize the glycolytic pathway to a far greater extent than do their non-malignant counterparts.
Thallion Pharma is a biotechnology company developing pharmaceutical products in the areas of oncology and infectious disease.