Cancer play Patrys in demand with investors as Harvard Uni collaboration launches
Health & Biotech
Health & Biotech
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Special report: Cancer fighter Patrys is increasing the amount of money it’s raising after two strategic investors were left clamouring for more.
Patrys (ASX:PAB) is lifting its already-oversubscribed share placement amount from $3.5 million to $4.6 million, to cater for the extra demand.
The money will go towards accelerating the development of the Deoxymab platform through a range of new pre‐clinical studies planned with Partners Yale School of Medicine and Harvard teaching hospital the Beth Israel Deaconess Medical Center.
It tops off a year of successes for Patrys, which is developing a DNA damage repair antibody that can attack cancer cells.
Drug candidate PAT-DX1 is a humanised and smaller version of deoxymab, a DNA damage repair antibody first identified in the inflammatory immune disorder lupus.
It’s proven effective in pre-clinical work on colon cancer cells and breast cancer, and they believe PAT-DX1 may work for melanomas, prostate, pancreatic and ovarian cancers.
Patrys proved in February that PAT-DX1 could cross the all-important blood-brain barrier, which sent its stock surging.
Earlier in September its shares quadrupled when the drug was shown to have killed brain cancer cells in the lab.
And now its drug is being noticed by experts in some of the US’s top medical research schools.
Last week Patrys launched a new R&D collaboration to study PAT-DX1 in mice with Dr James Hansen from Yale School of Medicine in New Haven, plus Dr Gerburg Wulf and Dr Jaymin Patel from Harvard teaching hospital, the Beth Israel Deaconess Medical Center in Boston.
The partnership is a follow-up to a pilot study that showed it was effective against a particularly aggressive form of breast cancer.
The study showed that PAT‐DX1 has antitumor activity in an orthotopic, immune‐competent mouse model of triple negative breast cancer.
“The opportunity to build on the successful pilot study and to further investigate PAT‐DX1 in an immuno-competent mouse model of TNBC is timely, following the successful completion of the PAT‐DX1 orthotopic glioblastoma study completed at Yale University in March,” said Patrys chief and managing director Dr James Campbell.
Dr Hansen is an expert in cell‐penetrating antibodies and is inventor of the Deoxymab technology.
Dr Wulf has significant experience in the development and testing of new drug combinations that may improve outcomes in triple negative breast cancer.
Dr Patel’s translational research in the field of breast cancer spans nanoparticle technology, genomic instability, DNA damage repair (DDR), tumor targeting and personalised medicine.
This special report is brought to you by Patrys.
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