OTTAWA, Oct. 27, 2016 /CNW/ - NuvoBio Corporation (formerly GeneSpans), a wholly owned subsidiary of Zim Corporation, located in Ottawa, Canada announced today that it has partnered with Designed Biologics to develop next generation drugs for Prostate Cancer treatment using smart biologics.
Under the terms of the collaboration agreement NuvoBio will provide funding for Designed Biologics to develop smart biologics, a new class of small peptides (30-75 amino acids) that target specific protein(s) of interest using alternative properties of protein interactions. The funding will support the project through "in-vitro & in-vivo testing" phases. In return, NuvoBio is granted a global exclusive license to certain IP and products resulting from the research. Financial terms were not disclosed.
NuvoBio is a newly formed subsidiary of Zim Corporation dedicated to the research and advancement of new drug and Immunotherapies using high powered computing and software to architect novel drug therapeutics. NuvoBio and Designed Biologics will collaborate to implement a unique molecular interaction analytics approach to design small peptide drugs that bind to target proteins. By combining alternative molecular properties of protein interactions with high performance computing, the joint research is intended to architect new synthetic small peptides (30-75 amino acids) with "designed" targeting properties to treat prostate cancer while reducing the possibility of side effects. The small size and high specificity of these biologics makes them ideal therapeutics for reaching hidden and difficult targets.
"We are very excited to be working with the Designed Biologics team" said Dr. Cowpland, CEO of NuvoBio Corporation. "The combined research and drug development we are undertaking employs leading edge computing technologies and software algorithms that result in a more rapid approach to developing drugs to treat cancer and other diseases with fewer off target effects – a critical requirement in the development and commercialization of new and safe cancer treatment technologies".
"We are very pleased to be collaborating with NuvoBio on the development of new synthetic drugs" said Dr. Ashkan Golshani, CEO of Designed Biologics. "We have spent more than 10 years developing our unique technology platform that utilizes new properties of protein interactions for architecting small peptide drugs that bind to specific proteins and are excited about the prospect of working with NuvoBio to create a new class of drugs that will target and treat Prostate Cancer".
NuvoBio, a wholly owned subsidiary of Zim Corporation based in Ottawa, Canada, is headed by renowned businessman Dr. Michael Cowpland previous founder and CEO of Mitel Corporation and Corel Corporation. NuvoBio is developing a portfolio products focused on emerging bio medical technologies, drug discovery, patenting and licensing.
About Designed Biologics
Designed Biologics Inc is dedicated to the development of small peptides with "designed" targeting properties. Combining unique molecular interaction analytics with high performance computing, Designed Biologics creates new classes of small peptide drugs for the treatment of human diseases and targeting traditionally difficult (undruggable) pharmaceutically important drug targets.
SOURCE NuvoBio Corporation
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For further information: NuvoBio Corporation, John Chapman, CFO, +1 (613) 455-0126 xt. 202, email@example.com; Designed Biologics, Ashkan Golshani, CEO, +1 (416) 894-7777, firstname.lastname@example.org