- Option to license a cancer chemotherapeutic in Phase 1 clinical trials -

12 August 2004

Pharminox Limited, ("Pharminox" or "The Company") a private, small-molecule oncology research and development company that was formed out of Oxford University in 2002, has signed a second agreement with Cancer Research Technology Limited (CRT), the technology transfer company of the charity Cancer Research UK.  

The agreement gives Pharminox an exclusive 12-month option to licence the worldwide rights to Phortress, the lead compound in a class of novel anti-tumour agents, and related compounds for development and commercialisation.

Phortress, whose mechanism of action is distinct from all other classes of chemotherapeutic agents currently available, was discovered by Professor Malcolm Stevens and co-workers in his Cancer Research UK sponsored research group based at Nottingham University. Preclinical research studies have shown that Phortress is active in vivo against human breast, ovarian and colon xenografts. A Cancer Research UK sponsored Phase I trial to determine the maximum tolerated dose of Phortress has been initiated, under the direction of Professor Calvert at the Northern Centre for Cancer Treatment in Newcastle.

In December 2003 Pharminox signed it's first licensing agreement with CRT, which gave the Company the worldwide development and commercialisation rights to a novel series of anti-tumour compounds known as quinols that are currently in preclinical development.

IP2IPO Group plc, the AIM listed intellectual property company that commercialises university technology, holds a 14% equity stake in Pharminox.  

Commenting on the announcement, Sue Barrowcliffe, CEO of Pharminox, said: “The latest agreement with CRT provides access to a clinical stage compound and therefore represents a major step forward in the process of building Pharminox into an exciting oncology research and development company.”

Professor Malcolm Stevens OBE, Cancer Research UK Professor of Experimental Cancer Chemotherapy and Chief Scientific Officer of Pharminox Limited, stated: “I am delighted that this small but dynamic UK company is to be given the opportunity to develop these very exciting novel anti-tumour agents.   I am particularly pleased that this agreement will allow close co-operation with the inventors of the compounds through the critical early stages of development.”

Harpal Kumar, CRT's CEO, added: “I am pleased that CRT has had the opportunity to facilitate the continued development of this novel cancer chemotherapeutic under the auspices of Professor Stevens and in so doing strengthening our relationship with Pharminox.”

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Notes to Editors:

About Pharminox

Pharminox is an Oxford University spin-out that was established in January 2002 to exploit novel platinum complexes discovered by Professor Gordon Lowe.   The company's portfolio was expanded in December 2003 via a licensing agreement with CRT and research collaboration with CRT and Professor Stevens` group at the University of Nottingham.   These agreements gave Pharminox the worldwide development and commercialisation rights to a novel series of anti-tumour compounds (quinols) that act via inhibition of thioredoxin. Pharminox has recently completed a £1.5million fund raising round which will provide funds to enter into the option agreement for Phortress, progress the quinols to Phase I trials and the platinum compounds to preclinical proof of concept.

About Phortress

Phortress is the dihydrochloride salt of the lysylamide prodrug of 2-(4-amino-3-methylphenyl)-5-fluorobenzothiazole (5F 203). The mechanism of action of Phortress is distinct from all classes of chemotherapeutic agents currently available and can be summarised as follows: selective uptake into sensitive cells followed by Arylhydrocarbon receptor binding and translocation into the nucleus, induction of the cytochrome P450 isoform (CYP) 1A1, conversion of the drug into an electrophilic reactive intermediate and formation of extensive DNA adducts and cell death in sensitive tumours.

About Quinols

The quinols are a series of novel heteroaromatic- and aromatic-substituted hydroxycyclohexadienone and their imine counterparts. The lead compounds in this series have shown in vivo activity against human renal, colon and breast xenografts. Mechanism of action studies indicate that these compounds act via inhibition of thioredoxin/thioredoxin reductase signal transduction.

About Cancer Research Technology Limited

Cancer Research Technology Limited (CRT) is a specialist technology transfer company which aims to develop new discoveries in cancer research for the benefit of cancer patients. CRT is wholly owned by Cancer Research UK, the largest independent funder of cancer research in the world. CRT works closely with leading international cancer scientists and their institutes to protect intellectual property arising from their research and to establish links with commercial partners. CRT facilitates the discovery, development and marketing of new cancer therapeutics, vaccines, diagnostics and enabling technologies. Further information about CRT can be found at www.cancertechnology.com.

About Cancer Research UK

Cancer Research UK is Europe's leading cancer charity, dedicated to research into the causes, prevention and treatment of cancer. We support the work of 3,000 scientists, doctors and nurses in over 80 academic centres across the UK, with an annual scientific spend of more than £190 million. Cancer Research UK is the European leader in the development of novel anti-cancer treatments; from their discovery at the laboratory bench to early clinical trials in cancer patients. Further information about Cancer Research UK can be found at www.cancerresearchuk.org.

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