Prescient Therapeutics (ASX:PTX) has been granted a new patent in Europe providing platform technology protection for its lead clinical compound PTX-200 (triciribine phosphate).
PTX-200 inhibits an important tumour survival pathway known as Akt, which plays a key role in the development of many cancers, including breast and ovarian cancer, as well as leukaemia.
The patent “Effective treatment of tumours and cancers with triciribine and related compounds”, covers therapeutic regimens for the treatment of tumours and cancer with reduced toxicity.
PTX-200 is well advanced in the clinic with Phase 1b/2 studies underway in leukaemia, breast and ovarian cancers in leading U.S. centres.
Last month, the pre-specified success criteria of Prescient’s Phase 1b breast cancer trial have been met, and the study will now progress to Phase 2.
Furthermore, the U.S. FDA recently granted Orphan Drug Designation for PTX-200 for the treatment of acute myeloid leukaemia (AML).
AML is a key focus of Prescient’ PTX-200 clinical program, with an important Phase 1b/2 clinical trial currently underway at the Moffitt Cancer Centre in Florida, U.S.
The Orphan Drug Designation is designed to provide benefits to incentivise drug development in less common diseases and is another positive step towards bringing Prescient’s treatments to market.
The company had a cash balance of circa $8.7 million as at 31 March 2017.