Isotechnika Pharma receives National Research Council IRAP funding for NICAM program
EDMONTON, March 4 /CNW/ - Isotechnika Pharma Inc. (TSX: ISA) today announced that it has received funding approval from the National Research Council's Industrial Research Assistance Program (IRAP) for its Non-Immunosuppressive Cyclosporin Analog Molecules (NICAM) program. The grant of $237,069 will support the development progress of the NICAM program which is part of an emerging therapeutic field that targets large and growing markets.
"Scientific research continues to validate cyclophilins as key disease-modifying targets in the treatment of a wide range of indications from myocardial infarction and virology to central nervous system disorders. Our NICAM candidates have demonstrated potent inhibition of cyclophilins without the immunosuppressive impacts typical of cyclosporine A," said Dr. Launa Aspeslet, COO of Isotechnika Pharma. "This funding is an external validation of our NICAM program awarded through a peer-reviewed process. Research shows that cyclophilin inhibitors have neuroprotective effects which open broad therapeutic areas of completely unmet medical need to Isotechnika such as stroke, Alzheimer's, Parkinson's and Lou Gehrig's disease."
Although cyclophilins are known molecular targets for a wide range of indications, Isotechnika will use the funding from IRAP to support the identification and selection of lead candidates for neuroprotection at this time. The Company intends to pursue co-development or licensing partnerships to support the development of the NICAM program.
About Isotechnika Pharma ------------------------
Edmonton-based Isotechnika Pharma Inc. is a biopharmaceutical company focused on the discovery and development of novel immunosuppressive therapeutics that are designed to offer advantages over other currently available treatments. There is a significant unmet medical need in the treatment of both solid organ transplantation and autoimmune disease. It is estimated that the market potential will exceed $4 billion annually in sales for calcineurin inhibitors such as voclosporin by 2011.
Voclosporin, Isotechnika Pharma's lead drug candidate, is a next generation calcineurin inhibitor. It has completed a Phase 2b study for the prevention of kidney rejection following transplantation and a Phase 3 European/Canadian trial for the treatment of moderate to severe psoriasis. Our partner, Lux Biosciences, has filed dossiers for approval of voclosporin in the U.S. and in Europe for the treatment of non-infectious uveitis. In the U.S., Lux has been granted Fast Track designation. Lux Biosciences has also conducted a Phase 1 trial using their proprietary voclosporin ophthalmic solution (LX214) as a candidate for dry eye syndrome.
Forward-Looking Statements --------------------------
This News Release contains forward-looking statements which may not be based on historical fact. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the Company's belief as to the potential of its products, its ability to protect its intellectual property rights, securing and maintaining corporate alliances and partnerships, the need for additional capital and the effect of capital market conditions and other factors on capital availability, the ability to economically manufacture its products, the potential of its products, the success and timely completion of clinical studies and trials, and the Company's and its partners' ability to successfully obtain regulatory approvals and commercialize voclosporin. Investors should consult the Company's quarterly and annual filings for additional information on risks and uncertainties relating to the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements.
%SEDAR: 00028600EFor further information: Dr. Robert Foster, President & CEO, Isotechnika Pharma Inc., (780) 487-1600 ext. 247, (780) 484-4105 (fax), firstname.lastname@example.org; Dr. Launa J Aspeslet, Chief Operating Officer, Isotechnika Pharma Inc., (780) 487-1600 ext. 225, (780) 484-4105 (fax), email@example.com