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Mar 13 2007, 5:55 AM EST

Adherex Outlines Corporate Goals for 2007

MARKETWIRE

Mar 13, 2007 RESEARCH TRIANGLE PARK, NORTH CAROLINA MARKET WIRE

Adherex Technologies Inc. (TSX: AHX)(AMEX: ADH), a biopharmaceutical company with a broad portfolio of oncology products under development, today announced its corporate and clinical goals for 2007 following the recently completed public financing for US$25 million in gross proceeds. The Company will hold a corporate update conference call to discuss these corporate and clinical goals on Thursday, March 15, 2007 at 10 a.m. ET.

"Adherex is fundamentally different today than it was a year ago. Not only did we meet nearly all of our specific corporate objectives for 2006, we have gained full developmental control over both eniluracil and ADH-1, refocused our development programs, and with our SIOPEL agreement, we have STS ready to enter a randomized trial. In addition, we have stabilized our balance sheet and have the financial resources necessary to get us to the next significant value inflection points," said William P. Peters, MD, PhD, Chairman and CEO of Adherex. "The recently completed financing brought to the Company additional quality investors, including Southpoint Capital, who by their significant investment have validated not only their belief in our science and the commercial opportunity that our programs represent but also their confidence in our ability to execute."

Since the beginning of 2006, Adherex has accomplished three major events: we regained all rights to ADH-1, providing opportunities for future partnering; we acquired full development rights from GlaxoSmithKline for eniluracil, enabling us to focus its development along the path we feel is most appropriate; and we completed a US$25 million public offering.

In early 2006, Adherex released its corporate goals for the 2006 year. These goals and the accomplishments are below:

- Evolve the European Phase Ib/II weekly dosing study into a Phase II
trial in select tumor types by mid 2006.
   - This was done and enrollment in this single-agent ADH-1 Phase
     Ib/II trial was completed at the end of 2006.
- Expand the ADH-1 development program to include combination trials
with other cancer therapies in mid 2006.
    - This was completed with the launch of our ADH-1 combination
      clinical program in October 2006.
- Complete the Phase II trial in Canada focused on tumor types where
anti-cancer activity has been observed, with release of results of
this first Phase II study targeted for second half of 2006 at an
appropriate scientific venue. In addition, we expect to add
additional clinical investigators and trial sites in the U.S. to this
Phase II program.
    - Additional sites were added in both Canada and the U.S. and
      this single agent ADH-1 Phase II trial completed enrollment at
      the end of 2006.  Final results are expected to be presented at
      the ASCO Annual Meeting in June 2007.
- Continue the U.S. Phase Ib/II daily x 5 (Monday through Friday)
 dosing study.
    - This single-agent ADH-1 trial was stopped in order to focus our
      resources on the trials exploring the weekly dosing schedule.
- Publish the completed results of the Phase I trial.
    - The final single-agent ADH-1 Phase I results were publicly
      presented at ASCO in June 2006.
- Present interim results of ongoing Phase Ib/II trials at the 2006
American Society for Clinical Oncology (ASCO) conference or other
appropriate scientific venue.
    - Interim Phase Ib results of this single-agent ADH-1 Phase Ib/II
      trial were presented at ASCO in June 2006. The complete Phase
      Ib/II data were recently presented in Amsterdam at the 5th
      International Symposium on Targeted Anticancer Therapies.
- Present preclinic




	
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