and KRAKOW, Poland
, May 22, 2014
/PRNewswire/-- H3 Biomedicine Inc.
, a biopharmaceutical company specializing in the discovery and development of precision oncology treatments, and Selvita (PL: SLV), one of the largest drug discovery companies in Eastern Europe
, announced today that they have achieved the first research milestone in their strategic collaboration to develop breakthrough precision medicines for cancers. The companies have validated the importance and druggability of a kinase target in a specific genetic context and have generated multiple novel chemical series against this target. The companies expect the first candidate molecule originating from the collaboration to move to IND-enabling studies in 2015.
Markus Warmuth, President and Chief Executive Officer of H3 Biomedicine, commented: "Teaming up with Selvita has allowed us to validate multiple targets with hypotheses based on genetic changes in cancer. Through systematic validation of these targets, H3 and Selvita together are solidifying their understanding of their biological mechanisms and, in parallel, are developing novel chemical matter that modulates them. We have made quick progress and will continue to aggressively pursue the programs toward clinical development."
Krzysztof Brzozka, Selvita Chief Scientific Officer, said, "Selvita's most advanced internal programs focus on kinase inhibitors in oncology and the work on the novel target follows our previous successful discovery efforts on PIM/FLT3 and CDK8. Since the start of our collaboration with H3 in September 2013, our teams have worked very well together, complementing each other's efforts. We hope to see the first small molecules originating from the collaboration in the clinic in 2016."
H3 Biomedicine will provide a milestone to Selvita in consideration of Selvita's achievement of the first research goal in the project. The companies are not disclosing the amount.
About H3 Biomedicine Inc.
H3 Biomedicine is a biopharmaceutical company specializing in the discovery and development of precision oncology treatments. Leveraging an unprecedented collaboration with Eisai, which provides research funding and access to the capabilities and resources of a global pharmaceutical company, H3 Biomedicine combines long-term vision with operational independence. Using modern synthetic chemistry, chemical biology and human genetics, the company seeks to bring the next generation of cancer treatments to market with the goal of improving the lives of patients. H3 Biomedicine is based in Cambridge, Massachusetts. Visit http://www.h3biomedicine.com for more information.
Selvita is a Polish biotechnology company engaged in the discovery and development of breakthrough medicines to treat oncology, CNS and autoimmune disorders, as well as provision of drug discovery services. It was established in 2007 and currently employs 195 people, including 63 PhDs. Selvita has currently several internal projects at early or late discovery stage and is expected to move its first candidates to the clinic in 2015. The most advanced programs at Selvita are SEL24, a pre-clinical PIM/FLT3 kinase inhibitor, with multiple indications in hematopoietic tumors and SEL120, first-in-class small molecule inhibitor of cyclin dependent kinase CDK8. Other innovative projects currently in development include SEL141, an early stage discovery program of DYRK1A kinase inhibitors with therapeutic potential in the treatment targeting Alzheimer's disease and Down syndrome, SEL201 novel small molecule MNK1/2 inhibitors in oncology, cancer metabolism platform and inflammasome platform. Drug discovery clients of Selvita include more than fifty large and medium-sized pharmaceutical and biotechnology companies from USA and Europe. Selvita is listed on the NewConnect market of the Warsaw Stock Exchange in Poland (SLV). Additional information about Selvita can be found on http://www.selvita.com/.
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SOURCE H3 Biomedicine Inc.