SAN DIEGO, Nov. 24 /PRNewswire/ -- Ambit Biosciences Corporation announced today that there will be multiple presentations evaluating AC220, a novel second generation FLT3 inhibitor, in AML at the 51st American Society of Hematology Annual Meeting (ASH) to be held in New Orleans, LA ,December 5-8, 2009. An oral presentation will highlight results from an ongoing clinical Phase I monotherapy safety study in adults with acute myeloid leukemia (AML). Additionally, non-clinical data will be presented evaluating the effect of AC220 monotherapy and in combination with chemotherapy.

"AML continues to be a disease with a significant unmet medical need and new therapies are urgently needed," said M. Scott Salka, Chief Executive Officer of Ambit Biosciences. "The Phase I clinical data we've seen for AC220 in AML are extremely encouraging and supports the further development of this highly selective second-generation FLT3 inhibitor."

Data Highlights for AC220 include:

ORAL PRESENTATIONS

Abstract #636

AC220, a Potent, Selective, Second Generation FLT3 Receptor Tyrosine Kinase (RTK) Inhibitor, in a First-in-Human (FIH) Phase 1 AML Study

Presented by: Jorge Cortes, MD

Session Name: Acute Myeloid Leukemia - Therapy, excluding Transplantation II

Date: Monday, December 7, 2009, 5:45pm (session: 4:30 - 6:00pm), Morial Convention Center Room 343-345

POSTER PRESENTATIONS

Abstract# 2053

AC220 - A FLT3 Inhibitor, Increases Survival in Two Genotypically Distinct FLT3-ITD Models of Acute Myeloid Leukemia and Provides Sustained Protection Following Chronic Administration

Session Name: Acute Myeloid Leukemia - Therapy, excluding Transplantation II

Sunday, December 6, 2009, 6:00 - 8:00pm, Hall E, Poster Board II-45

Abstract#: 2052

AC220, a Potent and Specific FLT3 Inhibitor, Enhances the Cytotoxic Effects of Chemotherapeutic Agents in Cell Culture and in Mouse Tumor Xenograft

Session Name: Acute Myeloid Leukemia - Therapy, excluding Transplantation II

Sunday, December 6, 2009, 6:00 PM - 8:00 PM, Hall E, Poster Board II-44

About Acute Myeloid Leukemia (AML)

Acute myeloid leukemia is a form of blood cancer. According to the American Cancer Society, approximately 13,000 new cases of AML will be diagnosed in the United States in 2008. The median age of a patient with AML is about 67 years old. Standard treatment for patients 60 years or older with AML includes systemic combination chemotherapy. The median survival for patients receiving induction chemotherapy, which is associated with high mortality, is 6-11 months, with shorter survival for patients over the age of 60 years. The five-year survival rate for AML is less than 15 percent due to refractory and relapsed disease associated with standard treatments. According to a report from Decision Resources, the U.S. AML market is expected to more than double by 2015.

About Ambit Biosciences

Ambit Biosciences is a privately-held biopharmaceutical company engaged in the discovery and development of small molecule kinase inhibitors for the treatment of cancer, inflammatory disease, and other indications. Ambit employs a novel and proprietary kinase profiling technology named KINOMEscan(TM) to screen compounds against large numbers of human kinases. Ambit's lead compound, AC220, is in clinical development for the treatment of AML and other indications. Ambit plans to commence in 2009 several clinical studies with AC220, including a registration study in AML. Ambit's clinical pipeline also includes AC480, an oral panHER inhibitor that was in-licensed from BMS as part of an ongoing collaboration. Ambit is conducting Phase 2 studies with AC480 in patients with solid tumor cancers. Additionally, Ambit has an advancing pool of preclinical candidates targeting BRAF (in collaboration with Cephalon), JAK2, Aurora, and CSF1R. Through its KINOMEscan Division, Ambit markets its technology as a profiling service. For more information, visit www.ambitbio.com.

Contact:
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M. Scott Salka                            Scott Lerman
Ambit Biosciences                         The Ruth Group
(858) 334-2101                            (646) 536-7013
                                          slerman@theruthgroup.com

SOURCE Ambit Biosciences Corporation