OncoGenex Pharmaceuticals Awarded BIOTECanada's Biotech Company of the Year Award
OncoGenex Pharmaceuticals, Inc. announced that the Company will be presented with BIOTECanada's gold Leaf Award as biotech company of the year. The award recognizes a biotech company that has distinguished itself from its peers with strong overall performance as a company, demonstrated leadership and shown significant achievement.
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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