Prescient Therapeutics

Prescient Therapeutics Ltd is a small molecule drug development company focused on new cancer drugs. The company's lead compound, PTX-200, inhibits the AKT tumor survival pathway. The company's second compound, PTX-100, blocks a cancer growth enzyme known as geranylgeranyltransferase type 1 (GGT-I). PTX-200 is in a Phase Ib/II trial in breast cancer and a Phase Ib trial in ovarian cancer while a Phase Ib in Acute Myeloid Leukemia (AML) is planned for early 2016. PTX-100 is pre-clinical.

History

The two projects that form the core of Prescient Therapeutics originated in separate private companies in the US - Pathway Oncology for PTX-100 and AKTivate Therapeutics for PTX-200. In 2013 the Australian bioentrepreneur Paul Hopper sought to bring these private companies into a public company in order to raise capital to development them. The public company he eventually identified was Virax, listed on the ASX and looking for new directions since its previous venture, involving viral delivery of immunologic genes for the treatment of HIV, had been unsuccessful. In a reverse takeover, Virax first acquired Pathway Oncology (deal announced 17 March 2014,^[1] completed 30 May 2014^[2]) and then AKTivate Therapeutics (deal announced 17 October 2014,^[3] completed 11 December 2014^[4]). Virax changed its name to Prescient Therapeutics in December 2014.^[5] Prescient Therapeutics estimated in 2015 that its two core projects had received an estimated US$20m in multiple US government grants.^[6]

PTX-200

PTX-200, Prescient Therapeutics' lead compound, is Triciribine Phosphate Monohydrate, an inhibitor of the tumor survival pathway AKT. PTX-200 in effect represents the 'rehabilitation' of a failed cancer drug. PTX-200 originates from the laboratory of Professor Said Sebti at the H. Lee Moffitt Cancer Center & Research Institute in Tampa, Fl.

PTX-100

PTX-100, originally called GGTI-2418, is a first-in-class compound that blocks a cancer growth enzyme known as geranylgeranyltransferase type 1 (GGT-I). This enzyme, by posttranslationally modifying the small GTPase Rho with isoprenoid lipids, plays a role in malignant transformation of cells and the inhibition of apoptosis. PTX-100, as a synthetic peptidomimetic inhibitor of GGT-I, is able to block Rho function and thereby induce a G1 phase cell cycle arrest. It does this by a mechanism involving induction of the CDK inhibitors p21waf and p27^kip1, CDK2 and CDK4 inhibition and hypophosphorylation of a tumor suppressor called Rb. GGTase I inhibitors also induce apoptosis by a mechanism involving downregulation of the expression of survivin and suppression of the activation of PI3K/AKT.

PTX-100 was invented around 2009 by Said Sebti and Andrew Hamilton, then a Professor of Chemistry at Yale University, now Vice Chancellor at the University of Oxford^[7]

Prescient expects to commence Phase Ib/II clinical trials in breast cancer and multiple myeloma in 2016. At the same time, Prescient plans to develop a p27 cancer biomarker as a companion diagnostic that will potentially identify those patients that are most likely to respond to PTX-100 therapy.

Prescient Therapeutics stock

Prescient Therapeutics stock is publicly traded on the ASX under the code PTX.

Main people

Prescient Therapeutics' Non-Executive Chairman is Steve Engle, a US bioentrepreneur based in the Bay Area. Paul Hopper, the Australian bioentrepreneur now based in Sydney who brought the PTX-200 and PTX-100 projects into Prescient, has been Executive Director since the acquisition of Pathway Oncology in May 2014

Major shareholders

Prescient's largest shareholders as at 3 December 2015 were Paul Hopper with 9.6% of the company,^[8] followed by Chris Retzos with 8.9%.^[9] Retzos is a KFC franchisee from Shepparton in northeast Victoria who owns in excess of 40 KFC outlets in the state.^[10]

Locations

Prescient Therapeutics' corporate headquarters are in Melbourne however Hopper lives in Sydney, Sebti works in Tampa, Florida, and Chew in Indianapolis, Indiana.

References