Aus bioscience company acquires anticancer drug platform
The iQ Group Global, an Australian enterprise dedicated to developing early-stage bioscience assets, has announced its acquisition of a novel anticancer drug platform, known as TEX Core, from the University of Texas.
TEX Core has the ability to develop a range of well-tolerated, MRI-detectable cancer therapeutics that target drug-sensitive and drug-resistant solid tumours. The first cancer therapeutic to be commercialised from the platform is OxaliTEX — a novel platinum-based chemotherapeutic that targets only tumour cells, activates within the tumour and overcomes drug-resistance mechanisms with minimal side effects.
Currently, 50% of all chemotherapy patients are treated with platinum-based chemotherapy. Despite their wide use, these platinum compounds are known for extreme side effects, meaning doses must be limited. In addition, patients often present with platinum resistance, which makes the treatment ineffective.
“TEX Core is a landmark development in oncology that will significantly improve the efficacy of platinum-based cancer therapeutics,” said Dr George Syrmalis, Chairman and CEO of The iQ Group Global.
Preclinical research conducted at the University of Texas and MD Anderson Cancer Center has shown that OxaliTEX localises to ovarian, lung and colon tumours, and is apparently superior to traditional platinum-based chemotherapy drugs. The lead indication for OxaliTEX is ovarian cancer, the number one cause of gynaecological cancer deaths globally.
“OxaliTEX provides new hope for ovarian cancer patients who are not responding to standard of care (SOC) therapies, as it has the ability to kill cancer cells even when tumours are advanced and platinum-resistant, which is unfortunately the case with most ovarian cancer diagnoses,” Dr Syrmalis said.
The iQ Group Global will work together with TEX Core researchers and inventors at the University of Texas and the MD Anderson Cancer Center to commence clinical trials in the next 12 months. The Group then plans to develop OxaliTEX through an orphan drug designation in ovarian cancer, utilising an expedited FDA approval pathway.
“Our research shows that, once developed, OxaliTEX will be a cost-effective, highly impactful treatment that will give cancer patients a much better quality of life, during the biggest fight of their life,” Dr Syrmalis said.
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