TORONTO and MONTREAL, May 19, 2017 /CNW Telbec/ - Proteorex Therapeutics Inc. ("Proteorex"), headquartered in JLABS @ Toronto, is excited to announce the start of their research and development collaboration with Montreal-based Corbin Therapeutics Inc. ("Corbin"). The collaboration will identify small molecules which efficiently inhibit an important and highly conserved ubiquitin protein. Proteorex will receive an undisclosed upfront payment, and downstream milestone-based payments.
Corbin focuses on a novel therapeutic approach to treat various inflammation-based diseases via inhibition of the ubiquitin-specific protease 15 (USP15). Recently, this protease was shown to be key in the pathogenesis of neuroinflammation and its inhibition might be key in preventing and treating neuroinflammatory-based diseases, such as multiple sclerosis.
Proteorex will utilize their award-winning targeted design chemistry platform that employs a simple two-step mechanism to tether small molecules to protein fragments to generate small molecule peptide conjugates (SMPCs). Then the SMPCs are eventually converted to fully small molecule compounds that can be optimized further to become potent drugs in the form of oral pills. The ultimate goal will be to avoid the need for intravenous drugs, benefiting patients' treatment and care.
Dr. Maxime Ranger, President and Chief Executive Officer of Corbin, commented, "Corbin recognized the high value and great potential of Proteorex's innovative technology platform to find novel small molecules inhibiting USP15." Dr. Aman Iqbal, Co-Founder and Chief Executive Officer of Proteorex, added, "Through this collaboration, Proteorex's mandate is to turn USP15 into a validated druggable target for the treatment of neuro-inflammation."
About Corbin Therapeutics
Corbin Therapeutics is a Montreal-based biotechnology company, using a unique drug discovery platform to identify and develop novel USP15 inhibitors for treatment of various inflammation diseases, such as multiple sclerosis. This platform includes several in-vitro and in-vivo models for efficient drug screening and confirmation of potential lead candidates. www.corbinthera.com
About Proteorex Therapeutics Inc.
Proteorex Therapeutics' mission is to attack the toughest diseases in a powerful way previously thought to be impossible. Proteorex is discovering small-molecule drugs to treat diseases with the greatest unmet medical need. Their award-winning drug discovery platform uniquely integrates a novel synthesis design strategy, machine learning, and patient-derived cell-based screening to rapidly and cost-effectively unlock targets considered undruggable using existing approaches. www.proteorex.com
SOURCE Corbin Therapeutics inc
For further information: Dr. Maxime Ranger, President and Chief Executive Officer, Corbin Therapeutics, Tel: (514) 825 - 9035, email@example.com; Dr. Aman Iqbal, Co-Founder and Chief Executive Officer, Proteorex Therapeutics, Tel: (647) 835 - 8391, firstname.lastname@example.org