OncoGenex Pharmaceuticals Awarded BIOTECanada's Biotech Company of the Year Award
In 2009 OncoGenex announced Phase 2 data from its OGX-011 drug development program, showing a median survival advantage of 6.9 months compared to patients treated only with the current standard of care. The company also confirmed its Phase 3 development plans with the FDA via the Special Protocol Assessment process. In December of 2009, OncoGenex secured a major global partnership with Teva Pharmaceutical Industries to develop and commercialize OGX-011. Following a successful equity financing as well as cash secured through the Teva partnership, OncoGenex closed 2009 with $64.6 million in cash, its strongest cash position in company history.
"2009 was a tremendous year for OncoGenex, and we are honored to be recognized with this esteemed award," said Scott Cormack, president and chief executive officer of OncoGenex. "We are currently focused on a number of accomplishments ahead of us, including initiating Phase 3 clinical trials of OGX-011 in prostate and lung cancer and the advancement of our pipeline programs including OGX-427."
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