STOCKHOLM, SWEDEN – September 26, 2011. Axelar AB, a Karolinska Development AB portfolio company, today releases results of the completed Phase I/II clinical safety study for its drug candidate AXL1717 at the European Multidisciplinary Cancer Congress (ESMO) meeting in Stockholm, Sweden. All major objectives were met in the study and signs that suggest clinical benefit were observed in some patients with non-small cell lung cancer.

AXL1717 is the first targeted oral small-molecule Insulin-like Growth Factor 1 (IGF-1) receptor inhibitor clinically tested which does not affect the closely-related insulin receptor. The drug was administered to a total of 49 advanced-stage cancer patients with progressive solid tumors who had no remaining treatment options. The main purpose of the study was to investigate the safety profile of AXL1717. The open label study consisted of three parts: a single day twice-daily ascending dose part, a 7-28 days twice-daily dose-finding part, and an extension part at a fixed twice-daily dose for 28 days in two cycles 14 days apart.