Psiron Ltd (ASX: PSX) is focused on the development and commercialization of novel biological therapies for patients with cancer. Psiron's lead technology CAVATAK™ (coxsackievirus A21) is being developed in melanoma, breast and prostate cancer. Preliminary encouraging results have also been achieved in multiple myeloma. Early research using two other viruses is underway, echovirus-1 in ovarian and prostate cancers and coxsackievirus DAF variant in colorectal cancer.
Coxsackievirus and echovirus are oncolytic viruses that occur naturally and target specific and known sites on the outer surface of some cancer cells. Once locating these sites, the viruses proceed to destroy the cancer cells.
Psiron acquired the intellectual property rights to this technology, by licence, from ViroTarg Pty Ltd in August 2004.
Another wholly owned project is a therapy for treating skin diseases, currently in Phase II clinical trials. SORAFIN™, a combination of auranofin (synthetic gold) and a steroid, is in development for atopic dermatitis (eczema) and psoriasis. Psiron is currently seeking a commercialisation partner for its skin therapy treatment.
Psiron has made a number of investments in healthcare companies. These other investments, while having revenue potential, have their own management structures, enabling Psiron to provide oversight rather than daily involvement.
Psiron has a 50 per cent interest in Injet Digital Aerosols Limited (formerly known as Vapotronics Inc) to develop a drug inhalation device. This technology has been licensed to Canon Inc of Japan and clinical trials are planned. Additionally, Psiron owns 28.4 per cent of Analytica Ltd (ASX:ALT) specializing in the development, manufacture and marketing of medical devices; and 3.4 per cent of unlisted public company, CBio Ltd, who is developing chaperonin-10, a potential treatment for a number of autoimmune diseases such as multiple sclerosis and rheumatoid arthritis.
Last Updated: 12-21-05