Onyx and Proacta to Collaborate on Novel Cancer Treatment
RICHMOND, Calif., March 5 /PRNewswire-FirstCall/ -- Onyx Pharmaceuticals, Inc. (Nasdaq: ONXX - news) announced today that it has entered into an agreement with Proacta Therapeutics Limited to evaluate and potentially develop a novel cancer treatment. Onyx will provide the therapeutic viruses to Proacta and Proacta will conduct all research activities. Based on the results of the research, the companies may enter into a further collaboration or a license arrangement to develop a nitroreductase (NR) armed virus product.
The companies will investigate arming Onyx therapeutic viruses that replicate in and destroy cancer cells with prodrug technology developed by Proacta. This approach may allow prodrugs to remain inactive in the body until selectively triggered inside a tumor where they kill cancer cells while leaving healthy cells unharmed, potentially enhancing the therapeutic effect of viruses.
``By using the virus as a vector for prodrug technology coupled with the inherent cancer killing power of Onyx's therapeutic viruses, we believe that there is the potential to produce a highly effective cancer killer that is also safer for patients,'' said Aki von Roy, Chief Executive Officer of Proacta. ``Onyx is a leader in developing oncolytic viruses. Proacta is at the forefront of prodrug technology, so it makes sense for us to work together.''
Proacta holds exclusive worldwide rights to 25 patent families. Its technology has shown positive results in quickly destroying cancer tumors in laboratory tests. The agreement with Onyx will allow Proacta to evaluate prodrugs that are activated by the enzyme NR, one of four separate advanced prodrug technology platforms the company has in development. Proacta's team of scientists is led by Professors Bill Denny and Bill Wilson at the Auckland Cancer Society Research Centre (ACSRC) at the University of Auckland, and by Professor Caroline Springer and Dr Richard Marais at the Institute of Cancer Research in London.
``The collaboration with Proacta will potentially provide Onyx with a second prodrug armed therapeutic virus product. We are currently developing, in collaboration with Pfizer, a therapeutic virus product that is armed with a Cytosine Deaminase (CD) prodrug gene. We believe that armed viruses with anticancer genes, such as prodrug-converting enzymes, will potentially lead to a powerful and yet safe cancer treatment,'' said Len Post, Senior Vice President of Research and Development at Onyx.
Onyx Pharmaceuticals is engaged in the discovery and development of novel cancer therapies. Based on its proprietary technologies that target the molecular basis of cancer, the company is developing its lead products, ONYX-015 and BAY 43-9006. For more information about the company's pipeline and activities, visit Onyx's website at www.onyx-pharm.com.
This press release contains certain forward-looking statements regarding the development of potential human therapeutic products that involve a number of risks and uncertainties. Actual events may differ from the company's expectations. In addition to the matters described in this press release, the timeline for clinical activity, results of pending or future clinical trials, and changes in the status of the company's collaborative relationships, as well as the risk factors listed from time to time in the company's periodic reports filed with the Securities and Exchange Commission, including but not limited to its Annual Report on Form 10-K, may affect the actual results achieved by the company.
SOURCE: Onyx Pharmaceuticals, Inc. |
