JERUSALEM, December 17, 2012 /PRNewswire/ -- ProMining Therapeutics, Ltd. today announced a new collaboration with Roche (SIX: RO, ROG; OTCQX: RHHBY) in the field of type 2 diabetes mellitus. Under the terms of the agreement, ProMining Therapeutics will use its CavitIIRx platform to develop small molecule therapeutics for treatment of type 2 diabetes mellitus and will receive research based funding. Further details of the agreement were not disclosed.
"We are pleased to have completed this agreement with Roche and are very excited by the prospect of jointly delivering novel therapeutic oral small molecules to patients suffering from type 2 diabetes mellitus. ProMining has developed novel technology for the discovery of small molecules interfering in protein-protein interactions that are clearly differentiated from conventional small molecule drugs. This partnership will enable ProMining to expand the exploitation of this technology by combining with the impressive global research and development capabilities and resources of Roche," says Dr. Iris Alroy, ProMining Therapeutics CEO.
About ProMining Therapeutics
ProMining Therapeutics, Ltd., based in Israel is a Van Leer Technology Ventures Jerusalem and Pontifax portfolio company established in 2011 by Dr. Silvia Noiman, Dr. Iris Alroy and Dr. Arnon Aharon and operating within the Van Leer incubator. The company is a biopharmaceutical research and development company engaged in the discovery and development of novel oral, small-molecule drugs for a variety of indications including: cancer, inflammation, chronic pain, cardiovascular and viral diseases.
The Company has developed CavitIIRx, a proprietary drug discovery and development platform, focused on SH3 domain-mediated protein-protein interactions, known to play a major role in numerous disease mechanisms. ProMining's approach includes integration of state-of-the-art computational analysis tools and novel biological assays directed towards identification of small molecules blocking SH3-partner interaction. These tools are applied for a fast discovery and development of SH3-partner inhibitors of different targets, thereby creating a substantial pipeline.
Within a year from its incorporation ProMining was able to identify protein-protein interfering small molecules for its oncology project. The oncology project targets the ArgBP2-PAK1 SH3 domain mediated interaction. ArgBP2 coordinates PI3K signaling of the PI3K/Akt/Bcl2 pathway, which plays a detrimental role in many cancers.
Iris Alroy, Ph.D.