OncoEthix has in-licensed a compound, OTX015, from Mitsubishi Tanabe Pharma Corporation (MTPC).
OTX015 is a synthetic small molecule targeted to BET bromodomains 2/3/4 (BRD2/3/4).
Recent scientific publications have shown that inhibition of BRD2/3/4 down-regulates MYC transcription, followed by genome-wide down regulation of MYC-dependent target genes.
Previously, pharmacological inhibition of MYC-a transcription factor that is a master regulator of diverse cellular functions with a major role in a variety of human neoplasias-was not considered possible.
MTPC had successfully completed Phase 1 clinical studies in healthy volunteers and licensed the compound to OncoEthix to take advantage of its expertise in the development of novel oncology drugs. OncoEthix plans to initiate clinical trials later this year.
Dr Esteban Cvitkovic, Chief Scientific Officer of OncoEthix, noted that “the studies that we performed have confirmed that OTX015 is active across a wide range of hematologic malignancies. I look forward to exploring the compound’s potential in the clinic.”
Dr Kay Noel, Chief Operating Officer who led the licensing effort with Bertrand Damour, Chief Executive Officer, said: “We are excited about the opportunity to lead the exploration of one of the most promising new cancer targets.”