AustCancer touts US, UK opportunities

As Australian Cancer Technology (AustCancer, ASX:ACU) heads into Phase II clinical trials for its Pentrix anti-cancer vaccine, the company says it is evaluating a couple of new opportunities to expand its oncology drug development pipeline from the US and UK.

"As a result of the academic, clinical and commercial contacts we have made through our Revisys business, we are uncovering a number of opportunities in the United States. We have already commenced due diligence on a well-validated pre-clinical target from a leading US institution," said AustCancer managing director Paul Hopper.

He said that he expected to be able to make an announcement about the project in April.

Revisys (formerly NuraPlex) is a range of nutraceutical supplements targeted at patients undergoing oncology treatments acquired by AustCancer last year. The company expects to launch the products on the US market in February, with expected revenues in the first year of US$1.5 million, growing to $10 million in three years.

Also in the works is a cancer vaccine-related project from the UK. AustCancer is "well advanced" in discussions to license the project, which Hopper said was complementary to the Pentrix project.

The two projects will join an existing project focusing on the development of inhibitors to the CHK1 kinase -- a key protein involved in regulation of the cell cycle. With UK partner BioFocus, AustCancer plans to file patents on lead molecules this year, prior to partnering out the project for further development.

The Pentrix trial, which is scheduled to start in Melbourne in about three weeks, is expected to deliver results toward the end of the year. But preliminary results are likely to be announced after the first three of eight monthly administrations of the vaccine, Hopper said.

If the Phase II trial is successful, the company expects to sign up a partner prior to commencing Phase III studies.

"That's the mostly likely path," Hopper said, noting that preliminary interest from several players has bee expressed. "If the trial goes well, we will have a number of choices."