Navigation Links
Cytopia Announces Novel Anti-Cancer Drug Development Collaboration
Date:5/9/2008

Boosts Cytopia's development of early pipeline cancer drug candidates

MELBOURNE, Australia, May 9 /PRNewswire-FirstCall/ -- Cytopia Limited (ASX: CYT) today announced that it has entered into an anti-cancer drug discovery and development collaboration with Cancer Therapeutics CRC Pty Ltd. This agreement leverages Cytopia's early stage drug discovery pipeline of kinase inhibitors, a class of targeted therapeutics that is one of the fastest growing segments of the cancer drug market.

Cytopia will retain an option over exclusive commercialization rights for any drug candidates delivered by the collaboration. Should Cytopia choose not to exercise this option, Cancer Therapeutics may proceed with commercialization activities. In the event that all milestones to registration are successfully achieved, both Cancer Therapeutics and Cytopia will share in any partnering revenues, as well as royalty payments from a marketed drug.

Andrew Macdonald, CEO of Cytopia said, "Cytopia's drug discovery engine has generated many opportunities for novel cancer therapies and this innovative partnership gives us the freedom to focus investment on our later stage pipeline while still allowing our very early pipeline to move forward."

"Most importantly, the agreement leaves us with an option to capture the value upside for our investors if a new cancer drug is taken to market."

Under the terms of the collaboration, Cytopia has out-licensed specific proprietary technology to Cancer Therapeutics for an undisclosed kinase enzyme target with potential for treating metastatic cancers. Development of an inhibitor of this particular kinase could have blockbuster potential in the cancer market. Under the project plan,

Cancer Therapeutics will conduct and fund further development of the Cytopia compounds for at least two years. Cancer Therapeutics is a company, formed under the Australian Commonwealth Government's CRC scheme, to discover and develop new cancer drugs from Australia's research base. It will undertake responsibility for the further development of Cytopia's early compounds towards a preclinical candidate compound which is capable of further development into and through clinical trials.

"We are delighted to be embarking on a collaboration of this type with a leading Australian drug development company such as Cytopia," said Tony Evans, CEO of Cancer Therapeutics. "Our company was founded with the vision to aid in the further development of Australian biotechnology industry by applying drug discovery and development capabilities to early research findings and take on projects that are in the high risk category from commercial organizations or academic institutions to unlock their commercial potential."

Cytopia's advanced anti-cancer drug is being tested in four clinical programs covering oral and IV doses in Phase I and Phase II level studies. Trials are advanced for both oral and injectable vascular disrupting agents (VDAs), multiple myeloma and an aggressive brain tumor glioblastoma multiforme (GBM).

About Cytopia

Cytopia Ltd is an Australian biotechnology company focused on the discovery and development of new drugs to treat cancer and other diseases. Cytopia conducts its research and development via subsidiaries based in Melbourne, Australia and New York and specializes in discovering new molecules with an improved therapeutic profile for the treatment of cancer. Cytopia's lead compound, CYT997, is currently in Phase II clinical trials.

Website: http://www.cytopia.com.au

About Cancer Therapeutics

Cancer Therapeutics CRC Pty Ltd has been formed through a collaboration between a number of Australia's leading research institutions and commercial organizations for the purposes of cancer drug discovery and development. It is funded under the Australian Government's CRC scheme. The objective of the Company is to take novel or relatively novel molecular targets or early stage compounds from research institutes or biotech companies in Australia, or overseas, undertake hit discovery, hit to lead development and lead optimization, to produce high quality pre-clinical trial candidates for further development through commercialization.

Website: http://www.cancercrc.com


'/>"/>
SOURCE Cytopia Limited
Copyright©2008 PR Newswire.
All rights reserved

Related medicine technology :

1. Cytopia Nominates JAK2 Clinical Candidate for Myeloproliferative Disorders
2. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
3. EDAP Announces Launch of Clinical Study Combining HIFU and Chemotherapy for Localized Aggressive High Risk Prostate Cancer
4. Cephalon Announces Positive Results from a Pivotal Study of FENTORA in Opioid-tolerant Patients with Non-cancer Breakthrough Pain
5. ADVENTRX Announces Fast Track Designation Granted By the FDA For CoFactor For the Treatment of Metastatic Colorectal Cancer
6. DOV Pharmaceutical, Inc. Announces Successful Phase Ib Results for DOV 21,947
7. Phosphagenics Announces Positive Phase 1b Transdermal Insulin Clinical Trial Results
8. Xenomics Announces Implementation of its First Diagnostic Test for Acute Myeloid Leukemia Into Clinical Practice
9. Emisphere Technologies, Inc. Announces 2007 Second Quarter Financial Results
10. Amicus Therapeutics Announces Second Quarter 2007 Financial Results
11. Genta Incorporated Announces Second Quarter 2007 Financial Results and Corporate Highlights
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... 24, 2016 Research and Markets has ... Companion Diagnostic Tests" report to their offering. ... Diagnostics The World Market for Companion Diagnostics ... diagnostics. Market analysis in the report includes the following: ... Vitro Diagnostic Kits) by Region (N. America, EU, ROW), 2015-2020 ...
(Date:6/24/2016)... 2016  Arkis BioSciences, a leading innovator in ... durable cerebrospinal fluid treatments, today announced it has ... is led by Innova Memphis, followed by Angel ... investors.  Arkis, new financing will accelerate the commercialization ... release of its in-licensed Endexo® technology. ...
(Date:6/23/2016)... , June 23, 2016 ... "Pharmaceutical Excipients Market by Type (Organic Chemical (Sugar, ... Formulation (Oral, Topical, Coating, Parenteral) - Global Forecast to ... The global pharmaceutical excipients market ... at a CAGR of 6.1% in the forecast period ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. Calvin Johnson ... Recently, he has implemented orthobiologic procedures as a method for treating his patients. ... the first doctors to perform the treatment. Orthobiologics are substances that orthopaedic surgeons ...
(Date:6/24/2016)... Marne, Michigan (PRWEB) , ... June 24, 2016 , ... ... To deal with these feelings, many turn to unhealthy avenues, such as drug or ... Center of Marne, Michigan, has released tools for healthy coping following a traumatic event. ...
(Date:6/24/2016)... MIAMI, Fla. (PRWEB) , ... June 24, 2016 , ... ... Florida Trend magazine’s 2016 Legal Elite. The attorneys chosen by their peers for this ... of Florida. , Seven Greenberg Traurig Shareholders received special honors as members of this ...
(Date:6/24/2016)... ... ... People across the U.S. are sharpening their pencils and honing their writing skills ... patients and their families pay tribute to a genetic counselor by nominating him or ... Counselors (NSGC) Annual Education Conference (AEC) this September. , In April, Genome magazine ...
(Date:6/24/2016)... Frederick, Maryland (PRWEB) , ... June 24, 2016 ... ... Mid-Atlantic Angels is actively feeding the Frederick area economy by obtaining investment capital ... support over the past 2½ years that have already resulted in more than ...
Breaking Medicine News(10 mins):