Prescient acquires cancer biomarker p27

Prescient Therapeutics (ASX:PTX) has acquired the exclusive global IP rights to predictive cancer biomarker p27 from the USA’s Moffitt Cancer Center.

Prescient plans to use the biomarker as a companion diagnostic for PTX-100, the clinical-stage RAS inhibitor candidate acquired with the purchase of Pathway Oncology in June last year.

Cancer patients with low p27 levels are more likely to respond to PTX-100. Prescient is developing PTX-100 as a potential new treatment for breast cancer and multiple myeloma and is currently moving the drug candidate into phase 1b/II trials.

Under the terms of the deal, Prescient will pay Moffitt an undisclosed upfront cash payment, annual payments and a lump-sum payment contingent on the achievement of certain milestones.

“The most valuable biomarkers are those that can reliably indicate treatment response. These are ‘predictive’ markers and all data to date strongly suggests that p27 falls into this category,” Prescient Managing Director Dr Robert Crombie said.

“The p27 biomarker will improve the predictability of the drug development process for PTX-100 by identifying which cancer patients are most likely to respond to our clinical stage candidate.”

He said he believes that Prescient is now the only oncology company on the ASX developing a companion diagnostic to a cancer drug.

Prescient separately revealed that it has appointed veteran chartered accountant Melanie Leydin as company secretary.

Leydin has 20 years’ work experience to draw on and a strong background with ASX-listed companies. She is principal of company secretarial and accounting services company Leydin Freyer Corp.

Prescient Therapeutics changed its name from Virax Holdings late last year following the acquisitions of Pathway Oncology and fellow oncology company AKTivate.

Prescient Therapeutics (ASX:PTX) shares were trading 5% higher at $0.105 as of around 12.30 pm on Monday.

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