Stemline Therapeutics Receives Orphan Drug Designation for SL-401 for the Treatment of Acute Myeloid Leukemia

NEW YORK, March 9, 2011 /PRNewswire/ -- Stemline Therapeutics, Inc. today announced that SL-401, the Company's lead compound, has received Orphan Drug designation from the U.S. Food and Drug Administration (FDA) for the treatment of acute myeloid leukemia (AML).

SL-401 has completed a multi-center Phase I/II clinical trial in AML where it has demonstrated single agent efficacy, including two durable complete responses (CRs), multiple blast reductions and disease stabilizations, and an overall survival (OS) benefit in heavily pre-treated patients. SL-401 was well-tolerated and bone marrow-sparing. The trial results were presented at the 52nd Annual Meeting of the American Society of Hematology (ASH) in December 2010. SL-401 is now poised for Phase III clinical trials in patients with advanced AML.

Stemline's CEO, Ivan Bergstein, MD, noted, "Receipt of Orphan Drug designation represents another key milestone in the advancement of SL-401 through the regulatory process. We are also very encouraged by the potential of SL-401 to benefit patients with advanced stage AML, an unmet medical need, as well as additional hematologic malignancies including MDS, CML and potentially certain lymphomas."

About Orphan Drug Designation

Orphan Drug designation granted by the FDA provides companies with incentives to support the development of novel therapies that treat rare diseases or conditions affecting fewer than 200,000 people in the U.S. Those incentives include seven years of marketing exclusivity in the designated indication, tax credits and grants for clinical development, and a waiver of Prescription Drug User Fee Act (PDUFA) filing fees.

About Acute Myeloid Leukemia

AML is a hematologic cancer characterized by dysregulated maturation of myeloid cells and failure of the bone marrow as a whole to properly function. It has become increasingly established that leukemia stem cells, which comprise a subpopulation of the cells within AML, are the cells that give rise to and sustain AML and are resistant to standard therapies. According to the American Cancer Society, AML is one of the most common types of leukemia, with approximately 12,000 new cases in 2010. Most patients treated for AML will unfortunately relapse and the majority of relapsing patients will ultimately die from their disease, often within one year of relapse. With high relapse rates and a poor survival outlook, there is an urgent need to develop novel therapies for this devastating disease.

About Stemline Therapeutics, Inc.

Stemline Therapeutics, Inc. is a clinical stage biopharmaceutical company developing novel oncology compounds that target cancer stem cells (CSCs) and tumor bulk. SL-401, the Company's lead program, has completed a multicenter Phase I/II trial in advanced stage acute myeloid leukemia (AML) where it has demonstrated single agent activity including two durable complete responses (CR) and an overall survival (OS) benefit, and is now poised for Phase III studies. SL-401 is also currently being tested in additional indications including myelodysplastic syndrome (high risk) and chronic myeloid leukemia (not candidate for TKI therapy). The Company's second clinical program, SL-701, has completed a Phase I/II trial in adult patients with recurrent malignant glioma (brain cancer) where it has demonstrated single agent activity including a durable CR and an OS benefit. SL-701 is now poised for later stage trials in patients with recurrent malignant glioma. Stemline is also developing a broad portfolio of pre-clinical small molecules and antibodies for a variety of solid and hematological cancer types. Many of these compounds have derived from StemScreen®, the Company's proprietary discovery platform. For more information, please visit the Company's website at www.stemline.com.

This announcement contains forward-looking statements relating to Stemline's business, which are based on the Company's current expectations concerning future developments. These statements are subject to risks, uncertainties and other factors that may cause Stemline's actual performance to differ materially from the statements in this announcement. There can be no assurance that future developments affecting Stemline will be those the Company has anticipated.

SOURCE Stemline Therapeutics, Inc.