1st November 2001
PROACTA Therapeutics Limited, a New Company Developing Novel Treatment Modalities in Cancer Therapy
Today Cancer Research Ventures (CRV) Limited, Auckland UniServices Limited and The Institute of Cancer Research, London, announced that they had formed a new company to develop new therapeutic strategies for the treatment of cancer. Proacta Therapeutics Limited, which is to be based in Auckland, New Zealand, has been formed to further develop novel prodrugs and the technology for their localised activation only at the site of tumours.
Proacta has a strong and broad Intellectual Property portfolio, holding 21 patent families based on technology from the Institute of Cancer Research and the Auckland Cancer Society Research Centre (ACSRC) of the University of Auckland.
The Company's focus is to develop new treatment modalities for cancer, which are directly targeted at the tumour itself. The approach Proacta is taking is to develop essentially non-toxic prodrugs which do not have the often severe and unpleasant side effects associated with conventional chemotherapy and radiotherapy. The prodrugs are converted to highly active anti-cancer agents under certain conditions that either occur naturally within tumours, or are artificially generated locally within the tumour.
Proacta's prodrug activation strategies include a number of proprietary enzymes delivered to the tumour by gene therapy, and the natural hypoxia found in most solid tumours. Proacta also has access to a new class of prodrugs which are activated by direct radiation of the tumour itself and which may, by substantially increasing the efficiency of existing radiotherapy treatment, allow lower doses of radiation to be given. In addition to its prodrug strategies, Proacta has a number of directly cytotoxic compounds, which can be targeted to the tumour using selective antibodies.
The Company's scientists include Professor Caroline Springer and Dr. Richard Marais of The Institute of Cancer Research, based in the Cancer Research Campaign Centre for Cancer Therapeutics, and Professor Bill Denny and Bill Wilson of the ACSRC.
"The establishment of Proacta is a very encouraging development which should accelerate the development of this very exciting new cancer treatment modality", said Dr. Guy Wood-Gush, CEO of CRV in London. "The establishment of such a notable scientific team drawn from these top cancer research centres in the UK and New Zealand clearly underpins the exciting potential of these technologies."
"We have been collaborating with the Auckland team of scientists for some time and we are very much looking forward to implementing our plans and taking our drug candidates into the commercial arena", said Professor Springer of The Institute of Cancer Research.
Last week it was announced in Seattle that Proacta and Seattle Genetics Inc. had entered into a licensing agreement with Seattle Genetics acquiring from Proacta licensed-rights to a class of cell-killing Compounds. President and Chief Scientific Officer of Seattle Genetics, Dr. Clay B. Siegall, said the drugs developed by Proacta's scientists would add significantly to his company's pipeline of novel agents under development for the treatment of cancer.
"The Proacta compounds represent a unique class of drugs that are ideally suited for targeted drug delivery, providing a means to selectively kill cancer cells while limiting damage to normal tissue", he said.
Proacta plans to develop a certain number of its company proprietary prodrug candidates jointly with other parties as well as through an in-house drug development programme.
Shareholders in Proacta include CRV, The Institute of Cancer Research, Auckland UniServices Limited and the Centre for Applied Microbiological Research (CAMR) based in Porton Down, UK.
Notes to Editors:
Cancer Research Ventures Ltd (CRV) is a technology transfer and development company established by The Cancer Research Campaign in the UK to provide technology transfer services to cancer researchers on a worldwide basis. CRV, and its forerunner CRCT, have been providing these services to UK researchers since 1987 and have recently expanded the business into Europe and further afield through the affiliate company Biotech Research Ventures in Singapore. CRV has been instrumental in establishing a number of successful biotech companies in the UK.
Press enquiries: Ian Pike 020 7291 3611
www.CancerVentures.co.uk
The Cancer Research Campaign (CRC) is a leading UK charity, which funds research into all aspects of cancer. Its mission is to attack and defeat the disease of cancer in all its forms, to investigate its causes, distribution, pathology and treatment and to promote its cure. The Campaign aims to enhance the survival and quality of life of cancer patients through the discovery and development of new therapies and treatments.
www.crc.org.uk
The Institute of Cancer Research is a centre of excellence with some of the world's leading scientists working on cutting edge research. It was founded in 1909 to carry out research into the causes of cancer and to develop new strategies for its prevention, diagnosis, treatment and care. The Institute works in a unique partnership with The Royal Marsden Hospital, which enables scientific discoveries to be translated quickly into patient care. The Institute is affiliated to the University of London.
Press enquiries: Chris Ettery 020 7970 6056 (07721 747 900)
www.icr.ac.uk
Auckland UniServices Limited is the commercial arm of the University of Auckland, responsible for the protection and commercialisation of technology developed by academic staff including those based at The Auckland Cancer Society Research Centre which is part of the University of Auckland. It also acts as an incubator for the formation of new companies based around the University of Auckland's intellectual property.
Press enquiries: Dr John Kernohan (09) 373 7522 ext: 5838
http://www.uniservices.co.nz/pageloader.aspx?page=52d1d0d0
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