FLEMINGTON, N.J., May 10, 2013 (GLOBE NEWSWIRE) -- Arno Therapeutics, Inc. (OTCQB:ARNI), a clinical stage biopharmaceutical company focused on the development of oncology therapeutics, today announced that it has signed an agreement with Clarient Diagnostic Services, Inc., a GE Healthcare company, and leading provider of cancer diagnostic testing, to develop a diagnostic test to identify activated progesterone receptors in endometrial cancer. The diagnostic test is intended to be used in the development of Arno's investigational progestin receptor antagonist, onapristone. In pre-clinical studies, the presence of activated progesterone receptors (APR) has shown to be predictive of onapristone activity.
Glenn Mattes, Chief Executive Officer and President of Arno, stated: "Our collaboration with Clarient marks a significant milestone for Arno and the development of onapristone. Clarient's expertise and strength in cancer diagnostics makes them an ideal partner to help us continue our investigation of onapristone and move toward initiating a Phase I clinical study."
Using a novel immunohistochemistry process and analysis developed by Arno, the diagnostic test will identify if APR are present in tumor tissue. The APR diagnostic test will be used in Arno's Phase I clinical study of onapristone, which the company intends to begin in the second half of 2013.
About Arno Therapeutics
Arno Therapeutics is a clinical stage biopharmaceutical company developing innovative products for the treatment of cancer. Arno has exclusive worldwide rights to develop and market three innovative anti-cancer product candidates. These compounds are in clinical or preclinical development as product candidates to treat hematologic malignancies and solid tumors. For more information about the company, please visit www.arnothera.com.
Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. These statements are often, but not always, made through the use of words or phrases such as "anticipates," "expects," "plans," "believes," "intends," and similar words or phrases. These forward-looking statements include, without limitation, statements regarding the timing, progress and anticipated results of the clinical development of onapristone, Arno's use of the diagnostic test being developed with Clarient in its planned Phase I trial of onapristone, as well as Arno's strategy, future operations, outlook, milestones, future financial position, future financial results, plans and objectives. We may not actually achieve these plans, intentions or expectations and Arno cautions investors not to place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Various important factors could cause actual results or events to differ materially from the forward-looking statements that we make. Such factors include, among others, risks that the results of clinical trials will not support our claims or beliefs concerning the effectiveness of onapristone or any of our other product candidates, our ability to finance the development of our product candidates, regulatory risks, and our reliance on third party researchers and other collaborators. Additional risks are described in the company's Annual Report on Form 10-K for the year ended December 31, 2012. Arno is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise.