CAMBRIDGE, Mass.--(BUSINESS WIRE)--May 8, 2017--
AVEO Oncology (NASDAQ: AVEO) today announced that it received a Notice
of Allowance from the United States Patent and Trademark Office (USPTO)
for U.S. patent application number 14/653,684, entitled "notch binding
agents and antagonists and methods of use thereof." Allowed under the
application are composition of matter and method of use claims related
to the Company's humanized anti-Notch 3 antibodies, including AV-353.
The U.S. patent scheduled to issue from this application will expire
December 19, 2032, with the potential for extension to December 19, 2037.
AV-353 is a potent inhibitory antibody specific to Notch 3, a pathway
implicated in multiple diseases, including Pulmonary Arterial
Hypertension (PAH). In preclinical studies, AV-353 has demonstrated the
ability to potentially reverse the PAH disease phenotype, which would
represent a potential disease-modifying approach to treatment. PAH is a
rare and life-threatening disorder that affects approximately 250,000
people worldwide and is caused by enlargement of the arterial walls in
small arteries between the heart and the lungs, resulting in restricted
blood flow.
“AV-353’s disease modifying properties have the potential to transform
the future treatment of PAH, a debilitating disorder for which current
therapies target only symptoms,” said Michael Bailey, president and
chief executive officer of AVEO. “AV-353’s selectivity and high affinity
to Notch 3, which are unique from other approaches targeting the Notch
pathway, have enabled us to build an increasingly broad patent estate
around the program. Consistent with our strategic focus on oncology, we
continue to engage with potential partners around the worldwide
development of this important therapeutic candidate.”
About AVEO
AVEO Oncology (AVEO) is a biopharmaceutical company dedicated to
advancing a broad portfolio of targeted therapeutics for oncology and
other areas of unmet medical need. The Company is focused on seeking to
develop and commercialize its lead candidate tivozanib, a potent,
selective, long half-life inhibitor of vascular endothelial growth
factor 1, 2 and 3 receptors, in North America as a treatment for renal
cell carcinoma and other cancers. AVEO is leveraging multiple
partnerships aimed at developing and commercializing tivozanib in
oncology indications outside of North America, and at progressing its
pipeline of novel therapeutic candidates in cancer and cachexia (wasting
syndrome). For more information, please visit the company’s website at www.aveooncology.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements of AVEO that
involve substantial risks and uncertainties. All statements, other than
statements of historical fact, contained in this press release are
forward-looking statements. The words “anticipate,” “believe,” “expect,”
“intend,” “may,” “plan,” “could,” “should,” “seek,” or the negative of
these terms or other similar expressions, are intended to identify
forward-looking statements, although not all forward-looking statements
contain these identifying words. These forward-looking statements
include, among others, statements about: the qualities, uniqueness,
expected benefits and potential of AV-353; the potential for AV-353 to
be a disease-modifying treatment; the potential for AV-353 to transform
treatment paradigms; AVEO’s plans to partner AV-353 and AVEO’s focus on
developing oncology therapeutics. Actual results or events could differ
materially from the plans, intentions and expectations disclosed in the
forward-looking statements that AVEO makes due to a number of important
factors, including risks relating to: AVEO’s ability to enter into new
partnerships and maintain its licensing agreements, including for
AV-353, and its ability, and the ability of its licensees, to achieve
development and commercialization objectives under these arrangements;
AVEO’s ability, and the ability of its licensees, to demonstrate to the
satisfaction of applicable regulatory agencies the safety, efficacy and
clinically meaningful benefit of AVEO’s product candidates; AVEO’s
ability to successfully implement its strategic plans; AVEO’s ability to
successfully enroll and complete clinical trials of its product
candidates; AVEO’s ability to achieve and maintain compliance with all
regulatory requirements applicable to its product candidates; AVEO’s
ability to obtain and maintain adequate protection for intellectual
property rights relating to its product candidates and technologies;
developments, expenses and outcomes related to AVEO’s ongoing
shareholder litigation; AVEO’s ability to raise the substantial
additional funds required to achieve its goals; unplanned capital
requirements; adverse general economic and industry conditions;
competitive factors; and those risks discussed in the section titled
“Risk Factors” in AVEO’s most recent Annual Report on Form 10-K, its
quarterly reports on Form 10-Q and its other filings with the SEC. The
forward-looking statements in this press release represent AVEO’s views
as of the date of this press release. AVEO anticipates that subsequent
events and developments may cause its views to change. While AVEO may
elect to update these forward-looking statements at some point in the
future, it specifically disclaims any obligation to do so. You should,
therefore, not rely on these forward-looking statements as representing
AVEO’s views as of any date other than the date of this press release.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170508005361/en/
Source: AVEO Oncology
Argot Partners
David Pitts, 212-600-1902
aveo@argotpartners.com