Biosceptre seeks $15m for anti-cancer monoclonal antibody trials

Sydney-based Biosceptre suspects it has the technology that could transform cancer treatment, and it seeking $15 million from investors to help bring it into the clinic.

Speaking at a meeting convened in Sydney today for potential investors, Biospectre CEO Dr Cliff Holloway, and head of the scientific advisory board, the renowned monoclonal antibody pioneer Sir Gregory Winter, outlined the company’s plan to bring its monoclonal antibody technology to phase I trials.

The technology is based around a monoclonal antibody that targets a surface receptor found on all cancer cells called nf-P2X₇, which is a non-functioning version of the receptor P2X₇, which normally facilitates programmed cell death on non-cancerous cells.

It’s the very fact that this receptor is non-functional that makes cancer cells persist long after they would normally have undergone apoptosis, and it’s this very non-functioning receptor that allows the monoclonal antibody to target only cancer cells and not healthy cells.

The technology has been in the pre-clinical stages for around 10 years since the company’s founding, and the funding is intended to set it on the path towards approval by the US Food and Drug Administration (FDA) by initiating phase I trials.

The company’s plan is to continue to demonstrate safety and efficacy and to partner or cut a deal with a pharmaceutical company further down the track towards regulatory approval.

While the monoclonal antibody can potentially target many different types of cancer, the company hasn’t settled on which particular indication will be the focus of trials at this stage, but will seek to select once that demonstrates the efficacy of the treatment and also has a high market potential.

Biospectre also recently garnered $8 million in funding to conduct trials on a topical skin cancer treatment, which it is also taking into phase I trials this year in anticipation of an Investigational New Drug application with the FDA in Q3 2012.