Oncology Venture will execute license to multi TKI phase 3 compound
Hoersholm, Denmark, January 15th, 2018 – Oncology Venture Sweden AB (OV:ST): As previously announced to the market on December 14, 2017 Oncology Venture hereby disclose the initial conclusion from a study of the DRP of a phase 3 TKI product from Big Pharma: in the study of data from renal cancer patients’ biopsies - where the DRP score was compared with the outcome of clinical trial results - a consistent result was found. Based on this, the Company’s goal is to develop the drug and it’s DRP to commercial success. Several parameters were evaluated in this blinded study and though some were not statistically significant, others were, and a consistent signal was seen of the TKI DRP’s ability to foresee clinical benefit in the phase 3 TKI trial in renal cancer patients.
Oncology Venture has decided to execute the TKI license - which has already been negotiated. No further details have been disclosed on the financial content of the deal.
In addition to 2X Oncology, of which Oncology Venture currently owns 92%, Oncology Venture has spun out Danish OV-SPV 2, which will test and potentially develop an in-licensed, oral phase 2 Tyrosine Kinase inhibitor.
“The TKI product will be the strongest and most advanced in OV’s pipeline with clear efficacy in several cancers. I am confident that we can develop the TKI to commercialisation and once we have the full data package in-house we can further develop the DRP to a useful tool for clinical guidance to foresee patients’ benefit of the drug ”, says Peter Buhl Jensen, MD, PhD and 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 January 15th 2018.