Melbourne, Australia; 17 February, 2012: Patrys Limited (ASX: PAB; Company), a clinical stage biopharmaceutical company focused on the development of novel treatments for cancer, is pleased to provide a Business Development update.
Yesterday, Patrys hosted a lunch at which recently appointed Non-Executive Director, Ms. Suzy Jones shared her experiences in the industry. Ms. Jones’ career has spanned over 22 years. Most recently, she was Head of Business Development at Genentech responsible for identifying external opportunities that supported the company’s business objectives, and overseeing the negotiation of collaboration agreements to support strategic alliances. Today, Ms. Jones is Founder and Managing Partner of DNAink LLC, a life sciences business development and licensing firm in San Francisco, California.
Patrys’ CEO, Dr. Marie Roskrow and Marc Sinatra, Analyst at Lodge Partners, asked Ms. Jones a series of questions designed to share her experiences at Genentech and DNAink LLC. The questions focused on licensing and collaborations undertaken with small biotechs. Ms. Jones also provided her view on the broader international industry landscape, M&A environment and the top tier targets of the major pharmaceutical companies. A full transcript of the discussion is provided in the Appendix.
As previously announced, Patrys has recently completed the conversion of its gastric cancer antibody, PAT-SC1, to a proprietary manufacturing system and this product is now ready for out-licensing.
Patrys is pleased to announce the appointment of Dr. Masafumi Yoshimoto of PharmaBDL LLC to assist with this project. Given that gastric cancer has a significant incidence in Asian populations, the licensing campaign will initially focus on Japan and South Korea.
Dr. Yoshimoto has extensive experience in the biopharmaceutical industry in Japan including ten years as Head of the Licensing & Business Development at Sankyo Co Ltd. (Daiichi Sankyo Co., Ltd.). Currently, Dr Yoshimoto is involved in a number of business development committees and pharmaceutical associations including acting as a Board Member of the Japan Pharmaceutical Licensing Association (JPLA). Patrys anticipates that the out-licensing of PAT-SC1 will continue throughout 2012.
The option period in respect of the four antibodies covered by the Company’s early stage discovery agreement with CSL Limited recently expired bringing an end to the arrangement.
Patrys has also advanced its collaboration programs with an academic partner to assist in further advancing the understanding around the binding of its lead clinical candidate PAT-SM6. The company has established a collaboration with Professor Nicolle Packer’s team and the Australian Proteome Analysis Facility based at Macquarie University. Professor Packer was previously co-founder of Proteome Systems, an Australian company that generated new diagnostic products using state-of-the-art proteomics technology. This project will investigate the role of glycoproteins in the binding of Patrys’ IgM antibodies.
The establishment of relationships with groups like Professor Packer’s reflects the collaborative approach to Patrys’ R&D programs. In addition, these preclinical studies will add to the body of evidence around the PAT-SM6 mechanism of action.