Soricimed Biopharma Inc. Announces In-License of Peptide from University Health Network ("UHN")
TORONTO, Oct. 25, 2011 /CNW/ - Soricimed Biopharma Inc., a private drug and diagnostic development company focused on, among other areas, an ovarian cancer therapeutic and a companion early diagnostic, is pleased to announce an in-license of a new technology from the University Health Network ("UHN").
The technology that is being in-licensed from UHN is a proprietary peptide that was developed by Dr. Mansoor Husain at his lab at the University of Toronto. "Dr. Husain looked at a series of cell lines and showed that the peptide was able to stop growth in cervical, bone and lung cancer cells. The cancer potential is very complimentary to drugs that Soricimed is currently developing" said Paul Gunn, President and CEO of Soricimed. "We are thrilled to be working in collaboration with such a renowned institute as UHN and advancing this technology in our lab in Sackville, New Brunswick. "
Jack Stewart, Chairman and Chief Scientific Officer of Soricimed Biopharama commented, "With our own drugs being peptides, we understand the work that has to be done to develop a peptide as a drug and are very knowledgeable in the process. From the cancer side, the mechanism of action of this peptide is related to the mechanism of action of our own drugs being developed. We look forward to developing these additional opportunities and having a connection to the University Health Network which includes many premier research facilities, hospitals and the Ontario Cancer Institute".
"University Health Network's office of Technology Development and Commercialization strives to place new product development opportunities with Canadian companies. We are pleased to be partnering with Soricimed on the development of this new peptide therapeutic opportunity", stated Brian Barber, Vice President, UHN Development Corporation and Director, Technology Development and Commercialization, University Health Network.
ABOUT SORICIMED BIOPHARMA
Soricimed Biopharma Inc. is a private drug development company created in 2005 by Professor Jack Stewart and Paul Gunn following the discovery and development of a proprietary peptide, Soricidin. Soricidin is the basis for Soricimed Biopharma Inc.'s targeted cancer management program focused on an ovarian cancer therapeutic and a companion diagnostic. Using focused, innovative strategies in collaboration with major world-class cancer research institutions, Soricimed's drugs have demonstrated a capability to reduce cancer cell viability and induce apoptosis (in vitro) and to reduce human tumour volume (in vivo) with no demonstrable serious side-effects. Soricimed receives its funding from a variety of sources, including private investors, the Government of Canada and the Province of New Brunswick. For more information visit, www.soricimed.com
For further information:
Paul Gunn, President and CEO, Soricimed Biopharma Inc.
(506) 872-2181 - firstname.lastname@example.org