Antibody assets to be developed for cancer treatment
Shares in Patrys (ASX:PAB) rose almost 30% today, following the news that the company will develop and commercialise as anticancer agents a portfolio of preclinical novel anti-DNA antibodies and antibody fragments/variants discovered at Yale University.
Patrys acquired a worldwide licence for the anti-DNA antibody platform through a scrip acquisition of Nucleus Therapeutics in a tranched transaction with a value of up to $720,000. Based on the current number of shares on issue, and successful completion of a range of milestones that trigger the issue of Patrys shares to satisfy tranche payments, the vendors, including Yale University, will ultimately own approximately 14.36% of Patrys’s issued capital.
The lead candidates licensed from Yale are autoantibodies known as 3E10 (Deoxymab) and 5C6. These antibodies have the capacity to penetrate cancer cell nuclei, damage DNA, inhibit DNA repair and kill DNA repair-deficient cancer cells. Both Deoxymab and 5C6, when used as single agents, are selectively toxic to cancer cells with DNA repair deficiencies such as those with mutations in the BRCA2 and PTEN genes.
The mechanisms of action of both Deoxymab and 5C6 have possible advantages over poly ADP ribose polymerase (PARP) inhibitors as these antibodies are able to inhibit both single- and double-stranded DNA repair pathways and cause accumulation of DNA damage in cancer cells. The antibodies also have the ability to sensitise cancer cells to radiation and chemotherapy and interfere with cancer cells’ ability to sustain themselves through DNA repair.
Patrys will initiate and manage preclinical studies of a number of lead candidates to guide an eventual clinical development strategy for the new assets, working closely with the inventors from Yale University. Deoxymab inventor Dr James Hansen said, “We are very excited to be working with the Patrys team on a shared vision of building a world-class oncology franchise, which integrates our anti-DNA antibodies with Patrys’s strengths in product development.”
Patrys (ASX:PAB) shares were trading 28.57% higher at $0.009 as of around 3.30 pm on Tuesday.
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