Ivax Corporation reported that it has assumed worldwide rights to develop and market LMB-9, a recombinant immunotoxin which was designed as a treatment for a wide variety of cancers.

LMB-9 was developed under the leadership of Dr. Ira Pastan, Chief of the Laboratory of Molecular Biology at the National Cancer Institute, and was designed to target and destroy cancer cells without harming normal cells. LMB-9 targets the Lewis Y antigen, which is found in most gastrointestinal cancers, as well as in prostate and breast cancer. In the laboratory, LMB-9 has been highly active against various forms of cancer. Human clinical trials are in progress.

Dr. Phillip Frost, chairman and CEO of Ivax commented: "LMB-9 is a further example of Ivax' commitment to the development of novel and potent compounds for the treatment of cancer. The ability of LMB-9 to kill tumor cells at very low concentrations, as well as favorable results from our ongoing clinical trial with TP-38 in brain cancer, encouraged Ivax in this important expansion of our immunotoxin platform."