Lausanne, Switzerland, June 15 - OncoEthix, a Swiss-based company specializing in oncology drug development, has in-licensed a compound, OTX015, from Mitsubishi Tanabe Pharma Corporation (MTPC).
OTX015 is a synthetic small molecule targeted to BET bromodomains 2/3/4 (BRD2/3/4). Recent scientific publications have shown that inhibition of BRD2/3/4 down-regulates MYC transcription, followed by genome-wide down regulation of MYC-dependent target genes. Previously, pharmacological inhibition of MYC—a transcription factor that is a master regulator of diverse cellular functions with a major role in a variety of human neoplasias—was not considered possible.
MTPC had successfully completed Phase 1 clinical studies in healthy volunteers and licensed the compound to OncoEthix to take advantage of its expertise in the development of novel oncology drugs. OncoEthix plans to initiate clinical trials later this year.
Dr Esteban Cvitkovic, Chief Scientific Officer of OncoEthix, noted that “the studies that we performed have confirmed that OTX015 is active across a wide range of hematologic malignancies. I look forward to exploring the compound’s potential in the clinic.”
Dr Kay Noel, Chief Operating Officer who led the licensing effort with Bertrand Damour, Chief Executive Officer, said: “We are excited about the opportunity to lead the exploration of one of the most promising new cancer targets.”
For further information:
Bertrand Damour, CEO
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OncoEthix is a privately held biotechnology company that plans to develop a small portfolio of oncology drug candidates, ensuring a proper foundation for commercial success. The company’s lead product, OTX008, a synthetic small molecule targeted to galectin-1, entered Phase 1 clinical trial in the first quarter of 2012. OncoEthix was incorporated in 2007 and completed a Series A financing round led by Index Ventures and Endeavour Vision in August 2009.
For more information please see: http://www.oncoethix.com