Xenon’s Proprietary Programs Continue to Advance with Multiple Mid to Late Stage Clinical Trials Anticipated to be Underway in 2020
Xenon Eligible for Milestone Payments Based on the Advancement of Partnered Programs
Experienced Biotech Executive, Dr. Clarissa Desjardins, Joins Xenon’s Board of Directors
BURNABY, British Columbia, Jan. 13, 2020 (GLOBE NEWSWIRE) -- Xenon Pharmaceuticals Inc. (Nasdaq:XENE), a clinical stage biopharmaceutical company, today provided a corporate update and outlined its key milestone opportunities for 2020.
Dr. Simon Pimstone, Xenon’s Chief Executive Officer, said, “Xenon is entering 2020 in a very strong position with an exciting portfolio of proprietary neurology-focused candidates in clinical development, a healthy balance sheet, and valued collaborators advancing partnered programs. We expect to have multiple mid to late stage clinical trials underway in 2020 putting us in a position to generate important clinical data in 2020.”
Dr. Pimstone continued, “We anticipate a number of important milestone events in 2020, including the initiation of a Phase 3 clinical trial with XEN496 in patients with KCNQ2-DEE, a severe and rare form of pediatric epilepsy. In addition to the ongoing XEN1101 Phase 2b clinical trial in adult focal epilepsy, where we anticipate top-line data later this year, we are also seeking to expand the clinical development of XEN1101 in 2020 as we evaluate additional potential clinical indications for this novel Kv7 potassium channel modulator. Additionally, we look forward to the results from a physician-led Phase 2 study examining XEN007 in treatment-resistant childhood absence epilepsy.”
Dr. Pimstone added, “We are also fortunate to work with great collaborators who continue to advance our partnered programs. Neurocrine has guided that it expects to file an IND in mid-2020 in order to start a Phase 2 clinical trial for XEN901 (now known as NBI-921352) in SCN8A-DEE pediatric patients. Flexion continues to develop its pre-clinical FX301 program focused on peripheral nerve block for control of post-operative pain, and anticipates initiating FX301 clinical trials in 2021.”
Anticipated Milestones
Proprietary Programs
Partnered Programs
Corporate Updates
Dr. Pimstone stated, “I am pleased to welcome Clarissa Desjardins to our Board of Directors. With her extensive biotechnology, entrepreneurial, and neuroscience background, Clarissa is a superb addition to Xenon’s Board. I expect her contributions will be invaluable as we continue to advance our clinical programs and strive to develop new therapeutics for patients in need. I also wish to thank Richard for his esteemed counsel and service on our Board of Directors. The Xenon team wishes him well in all of his future endeavors.”
About Xenon Pharmaceuticals Inc.
We are a clinical stage biopharmaceutical company committed to developing innovative therapeutics to improve the lives of patients with neurological disorders, including rare central nervous system (CNS) conditions. We are advancing a novel product pipeline of neurology therapies to address areas of high unmet medical need, with a focus on epilepsy. For more information, please visit www.xenon-pharma.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995 and Canadian securities laws. These forward-looking statements and supporting assumptions are not based on historical fact, and include statements regarding the timing of and results from clinical trials and pre-clinical development activities, including those related to XEN496, XEN1101, XEN007, and other proprietary products, and those related to NBI-921352, FX-301, and other partnered product candidates; the potential efficacy, safety profile, future development plans, addressable market, regulatory success and commercial potential of XEN496, XEN1101, XEN007 and other proprietary and partnered product candidates; the anticipated timing of IND, or IND equivalent, submissions and the initiation of future clinical trials for XEN496, XEN1101, XEN007, and other proprietary products, and those related to NBI-921352, FX-301, and other partnered candidates; the efficacy of our clinical trial designs; our ability to successfully develop and achieve milestones in the XEN496, XEN1101, XEN007 and other proprietary development programs; the timing and results of our interactions with regulators; the potential to advance certain of our product candidates directly into Phase 2 or later stage clinical trials; anticipated enrollment in our clinical trials and the timing thereof; the progress and potential of our other ongoing development programs; the potential receipt of milestone payments and royalties from our collaborators and the timing of potential publication or presentation of future clinical data. These forward-looking statements are based on current assumptions that involve risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from those expressed or implied by such forward-looking statements. These risks and uncertainties, many of which are beyond our control, include, but are not limited to: clinical trials may not demonstrate safety and efficacy of any of our or our collaborators' product candidates; our assumptions regarding our planned expenditures and sufficiency of our cash to fund operations may be incorrect; our ongoing discovery and pre-clinical efforts may not yield additional product candidates; any of our or our collaborators' product candidates may fail in development, may not receive required regulatory approvals, or may be delayed to a point where they are not commercially viable; we may not achieve additional milestones in our proprietary or partnered programs; regulatory agencies may not permit certain of our product candidates to advance directly into a Phase 2 or later clinical trials, may impose additional requirements or delay the initiation of clinical trials; the impact of competition; the impact of expanded product development and clinical activities on operating expenses; adverse conditions in the general domestic and global economic markets; as well as the other risks identified in our filings with the Securities and Exchange Commission and the securities commissions in British Columbia, Alberta and Ontario. These forward-looking statements speak only as of the date hereof and we assume no obligation to update these forward-looking statements, and readers are cautioned not to place undue reliance on such forward-looking statements.
“Xenon” and the Xenon logo are registered trademarks or trademarks of Xenon Pharmaceuticals Inc. in various jurisdictions. All other trademarks belong to their respective owner.
Investor/Media Contact:
Jodi Regts
Xenon Pharmaceuticals Inc.
Phone: 604.484.3353
Email: investors@xenon-pharma.com