27 March 2002
Collaboration between RiboTargets, The Institute of Cancer Research and Cancer Research Ventures - Identifying new inhibitors against the HSP90 protein family for use in cancer
Cambridge and London, 27 March 2002 - RiboTargets Limited, the structure-based pharmaceutical research company, Cancer Research Ventures Limited ("CRV"), a global cancer technology transfer company, and The Institute of Cancer Research announce today a collaboration to identify and develop inhibitors of the HSP90 'chaperone' family as potential anti-cancer drugs.
Proteins called "oncogenic proteins" are responsible for uncontrolled cell division - a characteristic of tumour growth in cancer. Chaperone proteins, such as HSP90, are of particular interest in anti-cancer drug development because they ensure these oncogenic proteins remain in the correct shape to function. The Institute of Cancer Research has extensive experience working on chaperone proteins and has identified some compounds which inhibit HSP90's activity using their in-house assays. Professor Paul Workman and Professor Laurence Pearl have led the research in this area at The Institute of Cancer Research. Funding for this work has come from Cancer Research UK, The Institute of Cancer Research and The Wellcome Trust.
Under the terms of the collaboration, The Institute of Cancer Research will continue to evaluate the inhibitors of HSP90 and continue to provide the expertise in the biology of HSP90 and the pre-clinical and clinical trials necessary for drug development. RiboTargets will provide chemistry and structure-based design capability to identify new inhibitors and, going forward, the Company will manage the emerging intellectual property and take responsibility for development and commercialisation of any products that arise from the collaboration. Significant resources will be employed at both RiboTargets and The Institute of Cancer Research as part of this collaboration. Financial details have not been disclosed.
Commenting on the collaboration, Dr Susan Bright, Director of the Enterprise Unit at The Institute of Cancer Research, said: "For over five years, The Institute of Cancer Research has been researching the role of HSP90 proteins in cancer and we will be using our capability to translate this research into a drug discovery programme. RiboTargets has developed a powerful drug identification technology and will provide the development and commercial expertise to translate our scientific work into new agents that will inhibit the growth of tumours. We look forward to using our expertise alongside RiboTargets."
Guy Wood-Gush, Chief Executive of CRV, added: "This deal demonstrates CRV's central role in the commercialisation of new innovative cancer therapies. Through its close association with Cancer Research UK, the Institute of Cancer Research, and other leading research institutions around the world, CRV is able to facilitate the development of many novel cancer related technologies, so bringing benefit to cancer patients."
Simon Sturge, Chief Executive of RiboTargets, commented: "This collaboration marks RiboTargets' entry into the oncology arena and we are delighted to be working with two of the world's leading cancer research organisations. In particular, The Institute of Cancer Research and Cancer Research UK have the experience in conducting clinical trials with novel anti-cancer therapies which will be invaluable to the collaboration. We also believe that this collaboration validates the general applicability of our technology and highlights the role that structure-based design can play in the identification and development of new drugs."
For further information, please contact:
Ribotargets Limited 01223 895 555
Simon Sturge, Chief Executive
Cancer Research Ventures 020 72913600
Guy Wood-Gush, Chief Executive
Vicky John, Business Manager
The Institute of Cancer Research 020 7970 6056
Chris Ettery, Press Officer
For RiboTargets Limited
Financial press - Melanie Toyne Sewell, Financial Dynamics 020 7831 3113
Scientific press - Peter Colley / James Parkinson, STMP 01260 296 500
Notes to Editors
RiboTargets Ltd
RiboTargets is a privately owned pharmaceutical drug discovery company focused on the development of novel anti-infective and anti-cancer therapeutics. These therapeutic areas represent significant market opportunities.
The Company has created and validated a proprietary structure-based drug discovery engine that allows the rapid identification and optimisation of drug candidates against both protein and nucleic acid targets using high throughput computer-aided and experimental drug design.
Over the last four years, RiboTargets has made the transition from a technology platform company into a competitive drug discovery company. RiboTargets' goal for 2002 is to make the pivotal step from research into formal drug development. In the longer term, RiboTargets aims to become a significant player in the anti-infective and anti-cancer markets.
Website: www.ribotargets.com
The Institute of Cancer Research
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.
Website: www.icr.ac.uk
Cancer Research Ventures (CRV)
CRV is a leading oncology technology transfer company owned by Cancer Research UK (recently formed from the merger of the Cancer Research Campaign and the Imperial Cancer Research Fund). In addition to Cancer Research UK, CRV provides commercialisation and corporate start up services to other leading cancer research institutions around the world and has been instrumental in establishing a number of successful biotech companies in the UK. Biotech Research Ventures, CRV's Singaporean joint venture, provides a regional presence in the Far East.
Website: www.cancerventures.co.uk
Cancer Research UK
Cancer Research UK is the world's largest independent cancer research organisation. It was formed in February 2002 as a result of a merger between the UK's two leading cancer research charities, Imperial Cancer Research Fund and The Cancer Research Campaign. With a team of 3,000 scientists, research doctors and nurses and an annual scientific spend of more than £130 million, it has a mission to conquer cancer through world class research.
Website: www.cancerresearchuk.org
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