By Deanna Pogorelc
A novel targeted cancer therapy may have a place in the multibillion-dollar cancer therapeutics market if it delivers positive results in an ongoing phase 1 clinical trial and attracts enough investor interest.
Using nucleic acid-based DNA-interference technology, ProNAi Therapeutics has created a class of therapies to treat cancer and other complex genetic diseases. Its most advanced drug candidate, PNT2258, uses pieces of DNA to block the activity of disease-causing genes.
ProNAi is on its way to raising $1 million, according to a recent U.S. Securities and Exchange Commission filing.
In September 2010, the company advanced PNT2258 to a phase 1 trial for safety and tolerable dosage in patients with tumors for which there are no effective treatments. Results are expected later this year followed by the initiation of the next phase 1/2 safety and efficacy studies.
In a recent press release, President and CEO Charles Bisgaier said the company is exploring other disease targets in areas such as inflammation and genetic diseases.
The company licenses liposomal drug delivery technology from Marina Biotech to get the treatment where it needs to go inside cells.
Existing investors include Sigvion Capital, Apjohn Ventures, Amherst Fund, Grand Angels, Bioscience Research Commercialization Center, Michigan Technology Tri-Corridor and 21st Century Jobs Fund.
Date: April 11, 2012
Source: Southwest Michigan Innovation Center