OV to evaluate the potential of in-licensing a small molecule compound for development in cancer from a major Pharmaceutical company
Hoersholm, Denmark, July 19th, 2017 – Oncology Venture AB (OV:ST) and Novartis Pharma AG (Basel, Switzerland) have entered into an agreement providing Oncology Venture with an option right to execute an exclusive license to develop and commercialize an undisclosed small molecule, kinase inhibitor in clinical development. The molecule has been explored in multiple therapeutic indications including a variety of solid tumors. Further terms of the agreement were not disclosed.
Under the option agreement, OV will evaluate whether it can suitably develop and validate a companion diagnostic for the drug using its proprietary DRP™ biomarker platform.
“Oncology Venture is excited to explore the opportunity to enhance the development of the molecule. We are confident that by using our Drug Response Predictor (DRPTM) to select patients we will raise the chances of success for the molecule in clinical development. A drug specific DRP biomarker could then be consequentially used as a predictive companion diagnostic to identify likely responders” said Peter Buhl Jensen, M.D., CEO of Oncology Venture.
For further information, please contact
|Ulla Hald Buhl, COO and Chief IR & CommunicationsMobile: +45 2170 firstname.lastname@example.org||Or||Peter Buhl Jensen, CEOMobile: +45 21 60 89 22E-mail: email@example.com|
About the Drug Response Predictor (DRP™) Companion Diagnostic
Oncology Venture uses the Medical Prognosis Institute (MPI) multi gene DRP™ technology to select those patients that, by the genetic signature in their cancer, is found to have a high likelihood of response to a given drug. The goal is to develop the drug for the right patients by screening patients before treatment, whereby the response rate can be significantly increased. The DRP™ method builds on the comparison of sensitive vs. resistant human cancer cell lines including genomic information from cell lines combined with clinical tumor biology and clinical correlates in a systems biology network. The DRP™ is based on messenger RNA from the patients biopsies.The DRP™ platform (i.e. the DRP™ and the PRP™ biomarkers) can be used in all cancer types, and is patented for more than 70 anti-cancer drugs in the US. The PRP™ is commercialized by MPI for Personalized Medicine. The DRP™ is commercialized by Oncology Venture for drug development.
About Oncology Venture Sweden AB
Oncology Venture Sweden AB is engaged in the research and development of anti-cancer drugs via its wholly owned Danish subsidiary Oncology Venture ApS. Oncology Venture has an exclusive license to use the Drug Response Predictor (DRP™) technology in order to significantly increase the probability of success in clinical trials. DRP™ has proven its ability to provide a statistically significant prediction of clinical outcomes from drug treatment in cancer patients in 29 of the 37 clinical studies that were examined. The Company uses a model that alters the odds in comparison with traditional pharmaceutical development. Instead of treating all patients with a particular type of cancer, patients’ tumors’ genes are screened first with DRP™ and only those who are most likely to respond to the treatment will be treated. Via a more well-defined patient group, the risk and costs are reduced while the development process becomes more efficient.
The current product portfolio: LiPlaCis® for Breast Cancer in collaboration with Cadila Pharmaceuticals, Irofulven developed from a fungus for prostate cancer and APO010 – an immuno-oncology product for Multiple Myeloma.
Oncology Venture has spun out two companies in Special Purpose Vehicles: 2X Oncology Inc. a US based company focusing on Precision medicine for women’s cancers with a pipeline of three promising phase 2 product candidates and Danish OV-SPV 2 will test and potentially develop the Novartis small molecule kinase inhibitor.
This information is that Oncology Venture Sweden AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on July 19th 2017.