BEIJING, Sept. 9, 2013 /PRNewswire/ -- MicroConstants China Inc. has signed a definitive agreement to in-license the China rights for a promising Phase 2 liver cancer drug, PTX-9908, from Pertinax Therapeutics of Canada. MicroConstants China will be responsible for funding the clinical development of PTX-9908 in China. Pertinax will receive a royalty in connection with the sales of the product in China, as well as any future assignment or transfer of the rights.
PTX-9908 is an analog of Stromal Derived Factor -1 (SDF-1), a major chemotactic factor that plays a significant role in mediating cell trafficking via selective binding to CXCR4. When PTX-9908 binds to CXCR4, it stops the cancer cells from spreading to other parts of the body, a process called metastasis.
PTX-9908 has been tested in healthy human volunteers and cancer patients in several Phase I/II clinical trials in North America. These studies showed PTX-9908 to be safe and well-tolerated in human and preliminary evidence of efficacy was observed. MicroConstants China will conduct clinical research in China to establish the efficacy, safety and tolerability of PTX-9908 in patients with unresectable hepatocellular carcinoma using PTX-9908 infused intravenously.
"Our collaboration with MicroConstants China will enable expedited development of PTX-9908 in China and give us the opportunity to provide a potentially life-saving treatment to a large number of liver cancer patients with limited treatment options," said Dr. Bev Incledon, president of Pertinax. "With MicroConstants China's expertise in global drug development and their GLP/GCP compliance record, I am confident that data generated in China will complement our global development of PTX-9908 for the treatment of other cancers."
"The execution of this licensing agreement with Pertinax verifies our business model and is an important milestone for us," said Dr. Q. David Yang, chief executive officer of MicroConstants China. "PTX-9908 is an excellent candidate for liver cancer and our partner Pertinax has extensive preclinical and clinical expertise to support further development of the compound in China."
About Pertinax Therapeutics Inc.
Pertinax Therapeutics is a specialty pharmaceutical company leveraging networks to acquire, enhance and partner undervalued human-experienced drug candidates. Its lead product, PTX-9908, and a portfolio of SDF-1 mimetics, have significant therapeutic potential in cancer and autoimmune disorders due to their extensive clinical experience and robust data packages.
Pertinax's affiliated company, Concept 2 Clinic Inc., is an executive R&D management company specialized in the pharmaceutical and biotechnology sectors. They provide R&D leadership and infrastructure to pharmaceutical sponsors requiring virtual drug development expertise. For more information, please visit http://www.concept2clinic.com.
About MicroConstants China Inc.
MicroConstants China is a Site Management Organization (SMO) and Contract Research Organization (CRO) located in Beijing, China. Established in 2007 by the president of MicroConstants, Inc. in San Diego, California, MicroConstants China is focused on providing clinical trial management services, regulated bioanalysis, pharmacokinetic studies and quality system consulting to pharmaceutical and biotech companies. They also implement ICH GCP quality systems and provide clinical site management services to clinical trial centers in China. For more information, please visit http://www.microconstants.com.cn.
SOURCE MicroConstants China Inc.