NEOMED Institute Launches NEOMED Therapeutics 1 Inc. to fund and develop a dual BET inhibitor anticancer therapy pipeline with NEO2734, an oral dual BET and CBP/P300 inhibitor, as lead compound
IND Qualifying Toxicology Studies Initiated for NEO2734
Funding sought to fund:
Phase 1/2 Studies for NE02734
Preclinical Dual BET/SMARCA4 Discovery Program
Clinical Biomarker Program
MONTREAL, Feb. 28, 2018 /CNW Telbec/ - The NEOMED Institute (NEOMED), a leading not-for-profit Canadian R&D organization announced today that it has launched its first spin-out company, NEOMED Therapeutics 1 Inc. (NEOMED Therapeutics), a company dedicated to advancing novel, orally bioavailable epigenetic inhibitors for the targeted treatment of cancer. NEOMED licensed the original technology in 2014 from privately-held Epigenetix Inc. which was founded on research developed by Dr. Claes Wahlestedt, MD, PhD, Leonard M. Miller Professor and Associate Dean & Center Director for Therapeutic Innovation at University of Miami Miller School of Medicine.
The NEOMED project team has generated four distinct chemical series/scaffolds from which a portfolio of novel orally bioavailable epigenetic inhibitors have been advanced through preclinical development. Following IND / CTA filing in early 2019, first-in-human clinical trials are planned to start for the lead molecule - NEO2734, an orally bioavailable and potentially first-in-class and differentiated dual BET and CBP/P300 inhibitor. In addition to NEO2734, NEOMED Therapeutics 1 pipeline comprises a dual BET and CBP/P300 inhibitor follow-on program, a dual BET and SMARCA4 inhibitor program and a complementary biomarker program.
"The creation of NEOMED Therapeutics 1 will facilitate our efforts to raise funds to advance NEO2734 through multiple clinical trials in early 2019 and to progress our unique epigenetic inhibitor platform." said Donald Olds, President & CEO of NEOMED. He adds, "We are privileged that Christine Lennon, a seasoned biopharmaceutical professional with extensive biotech, pharma and venture capital experience has accepted to build and lead the team as our epigenetic inhibitor program transitions to a clinical stage company."
Christine Lennon said:. "We are on course to submit an IND application to the U.S. FDA and a CTA application to Health Canada in 2019, and plan to initiate our first-in-human Phase I/II clinical trials in cancer patients shortly thereafter."
"With the spinning off of this technology into NEOMED Therapeutics 1, I am confident that the team led by Christine Lennon to attract strategic financial investors will bring NEO2734 to clinical trials" stated Claes Wahlestedt, a scientific cofounder of Epigenetix Inc.
Prior to joining NEOMED, Ms Lennon held a number of leadership roles in large pharma, biotech and in venture capital, most recently at Novartis Oncology in Canada and in Europe, Shire and Neurochem (now Bellus Health). Christine has been an Advisor / Executive-in-Residence in Healthcare Venture Capital for both Business Development Bank of Canada (BDC) Capital and for CDP Capital. Ms Lennon holds a MBA and a BSc (Honors) both from McGill University.
Both privately-held Miami-based Epigenetix Inc and NEOMED Institute will be founding shareholders in NEOMED Therapeutics 1 Inc. supported by the NEOMED Institute scientific and medical team to help with the execution of the initial phases of operations.
About NEOMED Institute
The NEOMED Institute is a successful and innovative Canadian not-for-profit R&D organization whose mission is to enable and accelerate the commercialization of life science discoveries. To accomplish this mission, NEOMED Institute operates two complementary and integrated divisions:
NEOMED Therapeutics in-licenses promising scientific discoveries from Canadian and other academic centers and research institutes and then funds and develops these programs to stages that are attractive for partnering or stand-alone financing. All proceeds from successful out-licensing and exits are re-invested in new pipeline projects.
NEOMED Innovation Center operates a world-class life sciences ecosystem in Montreal, Quebec, that was created as an enabling environment for biotechnology and contract research organizations to establish, grow and prosper. Today the NEOMED Innovation Centre hosts 30 life sciences companies employing over 350 people who operate in our two state-of-the-art R&D centres comprising over 200,000 sq. ft. of fully equipped laboratories and benefit from NEOMED's shared services model (analytical/in vivo pharmacology, etc.) that enables a culture of collaboration and scientific innovation.
The NEOMED Institute is funded by our pharmaceutical partners, the Ministère de l'Économie de la Science et de l'Innovation du Québec, and the Networks of Centres of Excellence (NCE) of Canada as well as from revenue generated from the out-licensing/sale of our research pipeline projects and the operation of our facilities. www.neomed.ca