Prescient Therapeutics bringing new ‘basket’ approach to cancer trials

Highlights

• Prescient Therapeutics, an Australian cancer drug developer, is set to be the first Australian company to conduct ‘basket’ clinical cancer trials both in the US and Australia.
• This new basket approach focuses on multiple cancers of the same mutation, regardless of their location and aims to ‘switch off’ the mutation.
• The trial will be conducted utilising PTX-100, which targets myeloma, lymphoma, gastric and pancreatic cancers.

Prescient Therapeutics, an Australian cancer drug developer, is set to be the first Australian company to conduct ‘basket’ clinical trials whereby therapy is measured on multiple cancers of the same mutation. This new approach differs to traditional clinical trials that focus on the effect of a single drug on a single cancer. The new basket approach focuses on multiple cancers of the same mutation, regardless of their location and aims to ‘switch off’ the mutation.

Prescient is following in the footsteps of US company Loxo Oncology who used a similar strategy and was bought out early this year for $US8bn. Under the leadership of Chief Executive Steven Yatomi-Clarke, is looking to trial their drug candidate, PTX-100, which targets myeloma, lymphoma, gastric and pancreatic cancers. They will be the first in Australia and only one of a few conducting this type of research.

Prescient has raised $9m from US and Australian investors to conduct PTX-100 clinical trials and progress trials in its other lead drug candidate PTX-200, which targets breast, leukaemia and ovarian cancer.

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