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
SOURCE Soricimed Biopharma Inc.
For further information:
Paul Gunn, President and CEO, Soricimed Biopharma Inc.
(506) 872-2181 - email@example.com