World-renowned clinical oncologist and TGen Drug Development chosen to lead drug development program for COTI-2
TGen Drug Development (TD2) and Critical Outcome Technologies Inc. (COTI) (TSXV:COT) announced today that they will work together to obtain approval of clinical trials for a promising new anti-cancer drug called COTI-2.
This easily synthesized small molecule compound was discovered and developed by COTI of London, Ontario, Canada. This working relationship resulted through the expanded relationship between Canadian companies and the Phoenix-based Translational Genomics Research Institute (TGen).
TD2, TGen's Scottsdale-based drug-development subsidiary, will work with COTI to complete the Investigational New Drug (IND) enabling research necessary to gain U.S. Food and Drug Administration approval of clinical trials, perhaps by the end of 2010, and eventually move the drug to market where it can benefit patients.
COTI-2 works by inducing a brisk apoptotic response - the cancer cell kills itself - by targeting a pro-survival enzyme family called AKT. Initial tests have shown that COTI-2 can limit the growth of tumors in several types of cancer without the toxic side effects seen in other AKT inhibitors. It also may be even more effective when used in combination with other anti-cancer drugs.
"While traditional cancer chemotherapy is frequently limited by significant toxic side effects, it is drug candidates like COTI-2 that represent a new generation of less toxic drugs with good anti-tumor activity," said Dr. Wayne Danter, COTI's President and Chief Scientific Officer.
COTI-2's development will be guided by Dr. Daniel Von Hoff, TGen's Physician-In-Chief and Senior Investigator of TGen's Clinical Translational Drug Division. Dr. Von Hoff has led the development of numerous successful cancer therapies. Dr. Von Hoff's biography can be found at www.tgen.org/research/index.cfm?pageid=77&peopleid=65.
"I am delighted about our participation in the continued development of this interesting new agent with what appears to be a highly desirable mechanism of action," said Dr. Von Hoff. "I am very hopeful that COTI-2 will have a therapeutic impact in patients with tumors that are non-responsive to conventional therapeutic agents across a number of cancer indications."
Researchers hope to demonstrate that this oral pill will be especially beneficial for patients with small-cell lung cancer (SCLC), endometrial cancer and ovarian cancer, but may also help treat those with colorectal and pancreatic cancers. Collectively, these treatments could represent a worldwide market of more than $20 billion by 2018.