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Good News Expected for Late Stage Prostate Cancer Therapy Today

Good News Expected for Late Stage Prostate Cancer Therapy Today

Market Wire

Feb 15, 2011

SAN FRANCISCO, CA (Marketwire – February 14, 2011) – Medivation, Inc. (NASDAQ: MDVN) and Astellas Pharma Inc. today announced that new, long-term, follow-up data from the Phase 1-2 trial of MDV3100 in patients with advanced prostate cancer will be presented in a poster session at the American Society of Clinical Oncology’s Genitourinary Cancers Symposium (ASCO-GU) in Orlando, Fla. MDV3100 is a novel, triple-acting, oral androgen receptor antagonist.

The abstract (#177), titled "Antitumor activity of MDV3100 in pre- and post-docetaxel advanced prostate cancer: long-term follow-up of the Phase 1-2 study" will be available tomorrow, Tuesday, February 15, at 6:00 p.m. ET on the ASCO website at www.ASCO.org. The full poster (poster board #A71) will be presented on Thursday, February 17, from 4:50 – 6:20 p.m. ET during the General Poster Session B: Prostate Cancer in the Exhibit Hall at the Orlando World Center Marriott. The poster will include the most up-to-date data from this trial and will expand upon the results originally submitted in the abstract.

"We look forward to presenting promising new efficacy data from the Phase 1-2 trial of MDV3100," said Lynn Seely, M.D., chief medical officer of Medivation. "As part of these data, we will be sharing results of median time to prostate specific antigen (PSA) progression. We will be presenting PSA progression data calculated using three distinct reporting criteria: the criteria specified in the Phase 1-2 trial protocol; the most recent published PSA reporting consensus criteria (the Prostate Cancer Clinical Trials Working Group 2, or PCWG2, criteria)(1); and an older commonly used reporting method (the Prostate-Specific Antigen Working Group 1, or PSAWG1, criteria)(2)."

About the Medivation/Astellas Collaboration

In October 2009, Medivation and Astellas entered into a global agreement to jointly develop and commercialize MDV3100. The companies are collaborating on a comprehensive development program that includes studies to develop MDV3100 for both early-stage and advanced prostate cancer. Subject to receipt of regulatory approval, the companies will jointly commercialize MDV3100 in the U.S. and Astellas will have responsibility for commercializing MDV3100 outside the U.S. Medivation received a $110 million up-front payment upon entering into the collaboration agreement, and is eligible to receive up to $335 million in development milestone payments, up to $320 million in commercial milestone payments, 50% of profits on sales in the U.S., and tiered, double-digit royalties on sales outside the U.S.

About MDV3100

MDV3100 is an investigational therapy in clinical development for advanced prostate cancer. In preclinical experiments published in Science in April 2009(3), the novel, triple-acting, oral androgen receptor antagonist provided more complete suppression of the androgen receptor pathway than bicalutamide, the most commonly used anti-androgen. MDV3100 slows growth and induces cell death in bicalutamide-resistant cancers via three complementary actions — MDV3100 blocks testosterone binding to the androgen receptor, impedes movement of the androgen receptor to the nucleus of prostate cancer cells (nuclear translocation) and inhibits binding to DNA. In the preclinical experiments published in Science, MDV3100 was superior to bicalutamide in each of these three actions.

About Prostate Cancer

Prostate cancer is the second most common non-skin cancer among men in the world and it is the sixth leading cause of cancer death among men worldwide. Patients whose prostate tumors have stopped responding to, or are growing despite the use of, active hormone treatment strategies are considered to have advanced prostate cancer. These patients have a poor prognosis and few treatment options.

About Medivation

Medivation, Inc. is a biopharmaceutical company focused on the rapid development of novel small molecule drugs to treat serious diseases for which there are limited treatment options. Medivation aims to transform the treatment of these diseases and offer hope to critically ill patients and their caregivers. Together with its corporate partners Pfizer and Astellas, Medivation currently has investigational drugs in Phase 3 development to treat advanced prostate cancer, mild-to-moderate Alzheimer’s disease and Huntington disease. For more information, please visit us at www.medivation.com.

About Astellas Pharma Inc.

Astellas Pharma Inc., located in Tokyo, Japan, is a pharmaceutical company dedicated to improving the health of people around the world through provision of innovative and reliable pharmaceuticals. Astellas has approximately 16,000 employees worldwide. The organization is committed to becoming a global category leader in Urology, Immunology & Infectious Diseases, Neuroscience, DM complications & Metabolic Diseases and Oncology. For more information on Astellas Pharma Inc., please visit our website at www.astellas.com/en.