Announcement of Commercial Deal for innovative cancer therapeutic
July 10, 2017
Incanthera, the drug development and targeted cancer medicines company (“Incanthera” or “the Company”), is pleased to announce that it has signed its first commercial deal, for the Company’s lead asset, ICT01-2588, which has the potential to offer innovative treatment in prostate, breast, lung and colorectal cancers.
A specialist oncology company, (“the Licensee”) has agreed to license the Company’s clinical asset, ICT01-2588, a cancer-targeting vascular disrupting agent (VDA) to progress the drug through to commercialisation
ICT01-2588 is a novel VDA and drug delivery platform that has demonstrated strong preclinical efficacy and safety data. In the laboratory, it has achieved tumour selective delivery of the VDA, leading to reduced tumour blood flow and tumour shrinkage without significant toxicity. It has been designed to overcome cardiac toxicity, the most common disadvantage of VDAs. ICT01-2588 also features reduced frequency of treatment and has the potential for improved life expectancy.
Revenue forecasts indicate potential for multi-billion pound combined revenue streams in prostate, breast, lung and colorectal cancers.
Details of the deal:
All development costs will be borne by the Licensee
The Licensee will pay Incanthera ongoing milestone payments and royalties on sales
ICT01-2588 is due to enter Phase I Clinical Study in early 2018
The Licensee has subcontracted back to Incanthera the management of the Phase I trial
The deal provides external technical and commercial validation of ICT01-2588
Commenting on the announcement of the deal, Chief Executive, Simon Ward, said:
“We are delighted to announce our first commercial deal with a dynamic and highly regarded specialist oncology company. Our lead product, ICT01-2588, provides a potentially ground-breaking oncology therapeutic and the work we have achieved to date will now be progressed and completed through Phase I trials and fulfilled to commercialisation.
This deal provides external validation of our scientific approach while we continue to progress our expanding portfolio of oncology product opportunities to its next exciting stage.”
For further information, please contact:
Tim McCarthy, Chairman +44 (0)7831 675747
Simon Ward, Chief Executive Officer +44 (0)7747 625506
Suzanne Brocks +44 (0)7776 234600
Notes to Editors
Established in 2010, Incanthera is committed to the development of novel treatments for solid tumours (cancers), and licensing these to large pharmaceutical companies.
Operating from Manchester, with research facilities in Bradford and Salford, Incanthera was established from the University of Bradford’s Institute of Cancer Therapeutics (www.cancer.brad.ac.uk) to develop oncology treatments from a low cost base via a productive pipeline of early stage technology opportunities.
Managed by a team of experienced individuals drawn from commercial, scientific and regulatory backgrounds, the team also has experience in the establishment, growth and exit of small to medium sized companies.
The website at www.incanthera.com has been designed to showcase the Company’s outstanding expertise in cancer therapeutic technologies.
Unique mechanism of action: pro-drug targeting tumour vasculature
Strong preclinical efficacy and safety data
5 of 8 animals showed a clinical cure from cancer in in vivo efficacy studies
Safety has been demonstrated in toxicological studies