News and Announcements
Prescient Therapeutics Acquires Exclusive Worldwide Licence for Cancer Biomarker p27
- Published February 09, 2015 4:17PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
ASX Announcement, 9th February 2015, Melbourne Australia.
- p27 has the potential to be a companion diagnostic for its clinical stage RAS inhibitor candidate, PTX-100
- p27 biomarker to enable identification of cancer patients likely to respond to PTX-100
- Competitive licensing terms, with standard milestones tied to successful product development
Prescient Therapeutics Limited (ASX: PTX), a clinical stage oncology company, announced that is has further strengthened its oncology portfolio by acquiring the exclusive worldwide intellectual property rights to a novel predictive cancer biomarker known as p27 from the Moffitt Cancer Center in the United States. Prescient plans to use the p27 biomarker as a “companion diagnostic” for its clinical stage RAS inhibitor candidate RSX-100 (formerly known as GGTI-2418). Under the terms of the licence agreement, Prescient will pay an upfront cash payment and annual payments to Moffitt, as well as undisclosed lump sum payments on achievement of key clinical and commercial milestones.
By liscensing this predictive cancer biomarker, Prescient has the potential to identify those cancer patients most likely to benefit from its novel drug PTX-100. Patients with low levels of p27 are more likely to respond to PTX-100. Having completed a phase 1 safety study, PTX 100 is moving into Phase 1b/2 clinical trials as a potential new therapy for breast cancer and multiple myeloma. PTX-100 holds promise as a chemotherapy drug for other cancers such as prostate and pancreatic.
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