Phylogica, IMB get $500K grant for cancer drug project

Phylogica (ASX:PYC) and the University of Queensland’s Institute for Molecular Bioscience have secured a grant to help identify Phylomer peptides inhibiting tumour metastasis.

The Australian Research Council has awarded a $546,420 Linkage Grant for the screening project.

The project will screen Phylogica’s Phylomer peptide libraries against SOX18, a protein that plays a critical role in tumour metastasis. It acts as the molecular ‘master switch’ that triggers the development of the entire lymphatic vasculature.

In solid cancers, including melanoma, the protein is also re-expressed in lymphatic endothelial cells, helping the cancer spread through the lymphatic system. This makes SOX18 a promising anticancer drug target, as blocking its function is expected to reduce the potential for metastasis.

Through the joint project, IMB and Phylogica aim to develop a new platform to validate networks of protein interaction, using Phylomer peptides to probe for specific interactions. The partners hope this will allow them to target a family of proteins that have so far largely eluded pharmacological intervention.

“This grant strongly supports Phylogica’s strategic focus to develop Phylomer-based therapies against high-value cancer targets,” Phylogica CEO Dr Richard Hopkins said.

“The outcomes of this collaboration will enable us to accelerate our oncology programs, which are aimed at delivering potent Phylomer drugs inside cells.”

Phylogica (ASX:PYC) shares were trading 5.56% higher at $0.019 as of around 1.30 pm on Wednesday.