AGT Biosciences chases new market

Buoyed by the data from a recent research paper out of Cambridge University, gene discovery biotech AGT Biosciences has announced it has broadened its patent covering PARL (formerly gene AGT203) to cover cancer, aging and some other diseases.

AGT director of business development, James Campbell, said the release of the Cambridge paper had been beneficial both for AGT's share price, and for the company's future licensing prospects.

"Our original patent covered diabetes and obesity, but this new research indicates that PARL is very important to mitochondrial proteins. If they are not working, then the mitochondria can shrivel, or at least not grow, which has implications for both cancer and aging," he said.

"We are very pleased that already European pharma is taking an interest -- our CEO is going to Europe this week to talk to some interested parties," he added.

AGT's CEO, Prof Greg Collier, said given the newly-recognised critical role of mitochondria in diseases such as diabetes, muscular disorders, cancer and age-related degeneration, PARL had significant potential as a target for novel therapeutics in those fields.

"This major discovery expands our existing position," he said. "It opens new revenue possibilities for the company. [We]... are already in negotiations with a major international pharma to explore the possibility of developing PARL as a new anti-cancer lead.

"We believe there is real scope for a novel therapeutic based on our discovery," he added.

Campbell said it was likely the company would license its technology to large pharma, using an up-front payment, collaborative research then sales-based royalty payment model.

"Clearly we have a very robust IP portfolio, and an option to broaden our gene IP yet further. We can move on to other genes, other diseases," added Campbell.