CTx license potential cancer drug in $730M deal
Published 03-FEB-2016 10:24 A.M.
|
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Cancer Therapeutics CRC (CTx) has licensed a promising new cancer drug to US pharmaceutical company Merck.
The drug has been developed with the support from the UK’s Wellcome Trust and Cancer Research Technology. It has potential clinical applications in both cancer and non-cancer blood related disorders (hemoglobinopathies).
CTx also enlisted the help of the CSIRO, as a research partner.
According to the CSIRO’s Dr Tom Peat, the drug is designed to inhibit the protein PRMT5, which is associated with cancers including mantle cell lymphoma, lung cancer, breast cancer and colorectal cancer.
Dr Peat said, “Patients who have these types of cancers often have high levels of this protein, which is unfortunately also linked to high survival rates.
“Using our recombinant protein production facilities, we were able to produce samples of these proteins, crystallise them for structure based drug design and support the consortium’s pre-commercial investigations and trials.
“Access to high quality protein is absolutely critical in structural biology approaches to drug discovery, and CSIRO is pleased to be able to contribute this key capability.
“The CTx consortium was able to develop a drug that binds to this protein, allowing it to target the cancerous cells.”
Dr Peat said the CSIRO was thrilled to be part of this development and is confident that it could make a real difference for patients Australia and around the globe.
Equipment in the Recombinant Protein Production Facility.
Merck US will now further develop the drug, taking it to clinical trials, with a view to international commercialisation.
“This is a great result for Australian science and further demonstrates what can be achieved when science and commercialisation capabilities unite,” CTx chief executive Dr Warwick Tong said.
The deal provides potentially significant financial returns, which will be shared between CRT, CTx and the Wellcome Trust, with the majority being returned to CTx and its Australian research partners including CSIRO, Monash University, Peter MacCallum Cancer Centre and the Walter and Eliza Hall Institute.
General Information Only
This material has been prepared by Jason Price. Jason Price is an authorised representative (AR 000296877) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573) (62C), and a Director of S3 Consortium Pty Ltd (trading as StocksDigital).
This material is general advice only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with personal financial or tax advice and does not take into account your personal objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, Jason Price, StocksDigital, any of their related body corporates or any other person. To the maximum extent possible, 62C, Jason Price, StocksDigital, their related body corporates or any other person do not accept any liability for any statement in this material.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.