Cancer treatment targeted by new QIMR agreement
Wednesday, 13 November, 2002
Gene discovery and drug development company diaDexus has signed a deal with the Queensland Institute for Medical Research (QIMR) concerning a novel molecule with potential for treating cancers in both males and females.
The agreement is focused on Testisin, a naturally occurring protein molecule to which QIMR held exclusive intellectual property rights.
The arrangement allots further development and commercialisation rights to diaDexus, according to the San Francisco company's business development officer Dave Raskin.
It is the first deal struck in Australia by the privately-held company, which was founded several years ago by the then-SmithKlineBeecham and Incyte Genomics.
QIMR had been exploring the clinical relevance and potential therapeutic benefit of Testisin since 1998 under funding provided by Australia's Amrad. Amrad reassigned its patent rights to QIMR some time ago.
Testisin was originally discovered and characterised by Dr Toni Antalis, then head of QIMR's Molecular Oncology Lab, who is now with the US Red Cross department of vascular biology.
The molecule could lead to potential therapeutic benefits in the treatment of testicular cancer as well as female breast and ovarian cancers.
diaDexus raised $US102 million about five years ago in what at the time was the largest private placement by a biotech. It now has 90 employees is developing several products including Lp-PLA2, a diagnostic screening marker for heart disease.
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