AVEO Pharmaceuticals, Inc., a biopharmaceutical company focused on the discovery and development of novel cancer medicines, has acquired from Mitsubishi Pharma Corporation an exclusive license to develop and commercialize Mitsubishi's novel multiple kinase inhibitor, MP-412, in all territories outside of Asia.

AVEO expects to file an IND and commence clinical studies for MP-412 by mid-2006. AVEO initially plans to develop MP-412 for the treatment of solid tumors and will apply its Human Response Prediction platform to identify patient populations likely to be responsive to MP-412. Financial terms of the agreement were not disclosed, stated a company release.

Tuan Ha-Ngoc, President and CEO of AVEO said, "MP-412 has the potential to address large unmet medical needs in cancer, and it represents the first results from our in-licensing initiative designed to leverage our novel platform, which enables us to determine the genetic profiles of potentially responsive populations. This platform provides us and our partners with a unique advantage and has the potential to increase the efficiency and probability of success of clinical programs by bringing the right drugs to the right patients. We look forward to putting MP-412 into clinical trials by mid-year."

MP-412 is an IND-ready, second generation oral, multiple-kinase inhibitor that could potentially treat patients with solid tumors. It has shown excellent activity in various xenograft models and has a toxicity profile similar to other molecules in its class. Notably, in preclinical models, MP-412 is active against tumour cells that are resistant to first-generation kinase inhibitors. MP-412's mechanism of action has the potential to benefit patients with Non-Small Cell Lung Cancer, Metastatic Breast Cancer, Pancreatic Cancer, Head & Neck Cancer and Hormone Refractory Prostate Cancer. AVEO's in vivo cancer models offer an opportunity to exploit MP-412's unique characteristics and will provide further insight into potential clinical settings, tumour subtypes and responsive patient populations.