Product
Line or Service — Checkpoint Genetics is developing pharmaceuticals to
preserve our cardiovascular health regardless of one’s diet. The
company’s products are for prevention of atherosclerosis, restenosis, myocardial infarct,
stroke, Alzheimer’s disease and Parkinson’s disease. The product line
consists of safe and potent antioxident therapeutics, including the
company’s lead clinical candidate, CPG-603.
Technology/Proprietary
Rights — The company has a pending patent covering a family of
pharmaceutical compositions for several unrelated diseases. The President
and CEO is the inventor of the technology and has assigned the entire
rights to the company. The patent claims provide a competitive advantage
for pharmaceutical products, incorporating CPG-603. A portfolio of related
patents, differentiated by diseases and unique compositions of matter are
likely to be issued upon examination of the initial application,
strengthening the company’s technology base.
Market
Opportunities — The worldwide prescription market for cholesterol lowering
agents was $8.5 billion in 1998 with annual growth projected and realized
at 30% per year. Merck’s Mevacor and Warner-Lambert’s Lipitor,
well-known
blockbuster
pharmaceutical products, dominated this market. A conservative market
share estimate for Checkpoint Genetics’ first year sales of $300 million
is based upon its’ mechanism of action, by inhibiting atherogenesis.
Initial growth is estimated at 40 to 50% per year during the first 2
years, with sales topping out at $700 million to $1 billion.
Marketing/Sales
and Distribution — The
company plans to license marketing rights to a fully integrated
multinational pharmaceutical company with a complementary product
franchise. Should such pharmaceutical companies attempt to lock out
favorable terms for licensing, Checkpoint Genetics will contract for
detailing and distribution with suitable subcontractors.
Manufacturing
— The company will not invest in plant and facilities for manufacture of
its first product. Contract manufacturers will be utilized.
Competition
— The company knows of no direct competition for CPG-603 and our family of
proprietary pharmaceutical compositions. The following cardiovascular
agents are in late stage development and are included for completeness.
ReoPro(TM), developed by Centocor marketed by Eli Lilly and
Co., indicated for restenosis prevention in high risk angioplasty
realized $365 million in 1998 sales.
This market does not include Japan where it is still under
review.
Sinlestal (a.k.a probuchol, DE-3872, by Daiichi). Sinlestal
was originally developed by Hoechst Marion Roussel, Inc. and marketed as
probucol,
a hyperlipidemic agent with antioxidant properties. Although it is no
longer marketed in the U.S., Daiichi is in phase II clinical trials with
Sinlestal for the prevention of restenosis.
Tranilst (discovered by Kissei Pharmaceutical Co. and
licensed to SmithKline Beecham). Tranilst was discovered and originally
developed by Kissei Pharmaceutical Col. as an allergy therapy. Tranilast,
although a week antioxidant, is under review in Japan for prevention of
restenosis.
Coreg (a.k.a. Dilatrend, Eucardic, discovered by Boehringer,
Mannheim, presently SmithKline Beecham). Coreg is a beta blocker with
vasodilating activity and antioxidant properties. Coreg is being studied
for prevention of restenosis.
Antioxidant Nutritional Supplements: A group of Vitamin E,
pycnogenol extracts, and various flavonoid extracts that are marketed as
nutritional supplements. Confusion over the extent of allowable claims
and clinically proven effectiveness, complicate consumer selection and
medical acceptance.
Nicaraven
(a.k.a. AVS, Antevas by Chugai Pharmaceutical Co. Ltd.) Nicaraven is
currently under review in Japan for treatment of traumatic
cerebrovascular incidents. This compound appears to be the leading
clinical candidate of Chugai’s antioxidant research program.
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