Pappas Capital Announces the Passing of…

 
Berkeley, CA - September 30, 2009 - Plexxikon Inc. announces that enrollment has been initiated and the first patient has been treated in the first of two pivotal trials of PLX4032 (RG7204) in patients with metastatic melanoma. PLX4032 is a novel, oral and highly selective drug that targets the BRAFV600E cancer-causing mutation occurring in about 50 percent of melanomas and about eight percent of all solid tumors. This single arm Phase 2 B-Raf Inhibitor in Melanoma (BRIM2) trial for previously-treated metastatic melanoma patients, along with a randomized, controlled Phase 3 trial (BRIM3) expected to start by the end of 2009 in first-line patients, are part of the planned registration program for PLX4032. The initiation of the Phase 2 trial has triggered a significant milestone payment to Plexxikon from Roche. Plexxikon is entitled to receive additional payments for milestone achievements as well as royalties on sales of PLX4032. Plexxikon and Roche are co-developing PLX4032 under their 2006 license and collaboration agreement.