Ivax Corporation has entered into a licensing agreement with Nippon Shinyaku to develop and market HMN-214, a polo-like kinase inhibitor that targets pancreatic, prostate and a number of other cancers.

HMN-214 was developed by Nippon Shinyaku and targets polo-like kinase, an enzyme that is over-expressed by a large number of human malignant tumours and that may promote the uncontrolled cell division that is the hallmark of advanced cancer.

Phillip Frost, chairman and CEO of Ivax Corporation, commented, "HMN-214 expands Ivax' commitment to the development of novel targeted compounds for the treatment of cancer. With the drug's benefits of oral administration and favorable toxicity profile, Ivax plans to undertake advanced clinical development to fully evaluate the potential effectiveness of this compound."

In a phase I trial evaluating HMN-214 in patients with advanced cancer and reported in the 2004 ASCO meeting, HMN-214 was found to have an excellent toxicity profile and to have early indications of anti-tumour activity, release from Ivax said.