Upstream Biosciences Inc. (OTCBB: UPBS) has announced that the company is actively seeking licensors or acquirers for its novel anti-parasitic drug discovery portfolio and cancer diagnostic platform.
Mr. Joel Bellenson Co-founder, Chairman, CEO stated, “On July 27 2009, Upstream announced the formation of an independent committee of the board to evaluate and assess the strategic direction of the company. The independent committee has recommended that the company undertake an aggressive strategy to seek licensors or acquirers. Management and the board are in full support of these actions.”
Upstream’s drug discovery portfolio is based around a unique, small molecule scaffold that was discovered using an artificial intelligence/combinatorial chemistry diversity strategy by leveraging historical anti-leishmaniasis screening data from the literature. The Company has filed provisional patent applications claiming the composition of matter, synthesis and use of its compounds.
A pipeline of more than 100 anti-protozoan compounds has been synthesized to date. Several Upstream compounds have demonstrated in vitro efficacy at µM concentrations against leishmaniasis, trypanosomiasis, and/or malaria in vitro.