Cancer treatment deal for Auckland university

By Phil Boeyen, ShareChat Business News Editor

Friday 31st August 2001

The University of Auckland will take a stake in a listed UK cancer treatment company after agreeing a drug licensing deal.

The university's commercial arm, Auckland UniServices, has signed the deal with UK biopharmaceutical development company Antisoma to develop and commercialise the drug DMXAA.

Antisoma specialises in novel targeted cancer therapies and has licensed the drug from global cancer technology transfer company, Cancer Research Ventures.

Under an agreement with CRV, UniServices and the Auckland Cancer Society will receive equity in Antisoma and will share in the successful development of DMXAA through milestone and royalty payments.

No amounts are being disclosed but the university says the value of the deal reflects the significant market potential for this new drug, addressing a major area of unmet clinical need.

Uniservices CEO Dr John Kernohan says the agreement is the result of a complex international partnership.

"Our scientists have discovered a new approach for treating cancer. Vascular targeting agents have significant potential to selectively restrict the blood vessels that feed nearly all solid tumours.

"We believe that DMXAA also stimulates the body's natural anti-tumour defence mechanisms, and may enhance the efficacy of current treatments in fighting cancer."

Two Phase I human clinical trials have already been completed, one in New Zealand and one in the United Kingdom. Antisoma hopes to complete these early studies and start studies using DMXAA in combination with chemotherapy by the end of next year.

The Auckland research team has been working on DMXAA for 15 years and has recently discovered the drug's potential to greatly enhance the effect of other therapies as a result of closely studying the vascular targeting process.

Auckland UniServices is responsible for the protection and commercialisation of technology developed by academic staff at the University of Auckland. Recent projects run by the company include a $30 million contract for an international pharmaceutical clinical trial that identified a new treatment for stroke.

Comments from our readers

No comments yet