Senetek Acquires Rights to Anticancer Technology from Polish Academy of Sciences
Senetek PLC has announced agreements with the Institute of Bioorganic Chemistry of the Polish Academy of Sciences in Poznan, Poland for the exclusive rights to anticancer technology for the treatment of brain tumors using interference RNA, as well as exclusive rights to three compounds for the treatment of skin aging.
The collaboration with the Institute of Bioorganic Chemistry of the Polish Academy of Sciences will provide Senetek three compounds with differentiating benefits for treating skin aging and possibly other aging conditions through their use in licensed cosmeceutical, nutritional and prescription products.
In addition, Senetek has acquired the rights to technology developed by the Institute in cooperation with Department of Neurosurgery and Neurotraumatology University of Medical Sciences in Poznan, Poland for the treatment of human brain tumors using RNA interference to inhibit the production of tenascin-C, whose expression has been suggested to correlate with the grade of malignancy of brain tumors.
Recently this technology has been applied to the treatment of several patients with glioblastoma multiforme.
Frank Massino, CEO and Chairman of Senetek, commented, "We are extremely excited about working with the Institute of Bioorganic Chemistry of the Polish Academy of Sciences and the opportunities that lie ahead with both the technology for the treatment of brain tumors and the compounds for the treatment of anti-aging of the skin."
"The current options for patients with brain tumors consist of treatments such as surgery and chemotherapy and/or radiotherapy; which have an average survival time of only 8 to 10 months."
"This new technology works not only to prolong the survival of patients suffering from brain tumors, but possibly to cure them as well."
Mr. Massino added, "We believe that we have just begun to see the effectiveness of RNA treatment, and we look forward to our partnership with the Institute of Bioorganic Chemistry of the Polish Academy of Sciences to work together to discover the full potential of this breakthrough form of treatment."
Under the terms of the collaborative agreement, Senetek will have rights for all applications of the in-licensed technologies in exchange for undisclosed royalty payments to be paid to the Institute upon commercialization.