Mateon Therapeutics Announces Abstract Presentations for the American Association for Cancer Research Annual Meeting in April 2017

SOUTH SAN FRANCISCO, Calif., March 31, 2017 -- Mateon Therapeutics, Inc. (OTCQX:MATN), a biopharmaceutical company developing vascular disrupting agents (VDAs) for the treatment of orphan oncology indications, today announced that updates on several of its preclinical programs are being presented at the American Association for Cancer Research (AACR) annual meeting in Washington, D.C.

"These abstract presentations show the breadth of some of our early preclinical development programs," stated William D. Schwieterman, M.D., Mateon's President and Chief Executive Officer. "As this work matures, we look forward to it complementing our current core clinical programs in platinum-resistant ovarian cancer and acute myeloid leukemia.”

Poster presentations by Mateon and/or its collaborators at the AACR annual meeting are as follows:

Abstract #2952 – The novel Cathepsin L/K inhibitors KGP94 and KGP207 prevent M0 to M2 macrophage differentiation and macrophage mediated pro-tumor functions.
Section: Tumor Microenvironment 3
Date and Time: Monday, April 3, 2017, 1:00 p.m. - 5:00 p.m. Eastern Time

Abstract #3203 – Targeting tumor hypoxia with prodrug conjugates of potent small molecule inhibitors of tubulin polymerization
Section: Novel Molecular Targets 2
Date and Time: Tuesday, April 4, 2017, 8:00 a.m. - 12:00 p.m. Eastern Time

Abstract #4899 – The small molecule Cathepsin L and K inhibitor KGP-94 impairs the metastatic phenotype of osteosarcoma cells
Section: Therapeutic Intervention of Cancer and Metastases
Date and Time: Tuesday, April 4, 2017, 1:00 p.m. - 5:00 p.m. Eastern Time

The above abstracts have been published and can be viewed on the AACR Annual Meeting website.

About Mateon

Mateon Therapeutics, Inc. is a biopharmaceutical company seeking to realize the full potential of vascular targeted therapy (VTT) in oncology. VTT includes vascular disrupting agents (VDAs) such as the investigational drugs that Mateon is developing, and anti-angiogenic agents (AAs), a number of which are FDA-approved and widely used in cancer treatment. These two approaches have distinct yet complementary mechanisms of action.

At Mateon, we believe that we can significantly improve cancer therapy by employing these two complementary approaches simultaneously. When utilized this way, VDAs obstruct existing blood vessels in the tumor leading to significant central tumor cell death while AAs prevent the formation of new tumor blood vessels.

Mateon is committed to leveraging our intellectual property and the product development expertise of our highly skilled management team to enable VTT to realize its true potential and to bring much-needed new therapies to cancer patients worldwide. 

Safe Harbor Statement
Certain statements in this news release, including, but not limited to, those concerning the advancement of the company’s preclinical programs and the results of clinical trials, the potential significance of this data and its relation to other clinical and pre-clinical studies are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. They can be affected by inaccurate assumptions Mateon might make or by known or unknown risks and uncertainties, including, but not limited to: the uncertainties as to the future success of ongoing and planned clinical trials; the unproven safety and efficacy of products under development or that may be developed in the future; and the sufficiency of the Company’s cash resources to conduct and complete future clinical and pre-clinical trials. Consequently, no forward-looking statement can be guaranteed, and actual results may vary materially. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in Mateon’s reports to the Securities and Exchange Commission, including Mateon’s reports on Forms 10-Q, 8-K and 10-K. However, Mateon undertakes no obligation to publicly update forward-looking statements, whether because of new information, future events or otherwise.

CONTACTS  

Investors:
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Stephanie Prince, Managing Director
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646-762-4518

Media:
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Nic DiBella
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617-945-5183