Arisaph Pharmaceuticals Awarded Phase I STTR Grant To Develop Small Molecule
- Marks the third Phase I STTR award received by Arisaph
- Increases non-dilutive funding to greater than $55 million
BOSTON, July 31, 2013
BOSTON, July 31, 2013 /PRNewswire/ -- Arisaph Pharmaceuticals, Inc., a
privately held drug discovery and development biopharmaceutical company
focused on developing novel therapies for cardiometabolic diseases and cancer,
announced today that it has been awarded a Phase I Small Business Technology
Transfer (STTR) award from the National Cancer Institute of the National
Institutes of Health. The Phase 1 award supports the research and development
of Arisaph's small molecule immune modulators to stimulate tumor immunity
following treatment with BRAF inhibitors in cancer. Following the successful
completion of the research, the Company may be eligible for up to $2 million
of additional Phase 2 funding to further the development of its immune
modulator program for the treatment of melanoma. To date, Arisaph has received
in excess of $55 million of non-dilutive capital, including $2.8 million
awarded under the U.S. government's Therapeutics Discovery Project Program
(TDPP) and $37 million from royalty monetizations leveraging the Company's DPP
4 inhibitor patent estate.
(Logo: http://photos.prnewswire.com/prnh/20110321/NE69091LOGO )
"We are delighted to receive our third small business grant from the NIH in
support of our promising oncology programs, which could enhance the efficacy
of existing therapies, such as BRAF inhibitors, for the treatment of
melanoma," said Christopher P. Kiritsy, President and Chief Executive Officer.
"This award continues the string of government grants and other non-dilutive
support, enabling the Company to advance its pipeline in an investor friendly
Arisaph has leveraged its medicinal chemistry expertise to develop a class of
small molecule immune modulators to boost the immune system to fight various
cancers. Such immune modulators are expected to enhance the efficacy of
various therapeutic antibodies (e.g., mAbs for tumor killing or for
immunomodulation) and small molecule anti-cancer agents, such as BRAF
inhibitors to treat colon cancer, melanoma and possibly other solid tumors.
The Company also is developing tumor activated prodrugs, which are largely
inactive in general circulation, but selectively activated by a specific
enzyme that is up-regulated in tumor tissue to release anti-cancer warheads.
This platform technology has led to the discovery of a lead tumor activated
proteosome inhibitor and a lead tumor activated doxorubicin for treatment of a
range of cancers.
Arisaph Pharmaceuticals Inc, an emerging biopharmaceutical company located in
Boston, Massachusetts, was founded by Dr. William Bachovchin (Professor of
Biochemistry, Tufts University School of Medicine), Christopher Kiritsy
(Former EVP Corporate Development and CFO Kos Pharmaceuticals, Inc.) and
Michael Jaharis (Founder, Chairman Emeritus, Kos Pharmaceuticals, Inc.) to
develop differentiated therapies for cardiometabolic diseases and cancer.
Arisaph employs rational drug design approaches to develop differentiated new
chemical entities (NCEs) that are highly potent and act on select, validated
targets. By focusing its drug development activities on validated targets, the
Company believes that the risks associated with new chemical entity
development can be mitigated compared with developing first-in-class compounds
for nonvalidated targets. Arisaph has developed a rich pipeline of products at
various stages of preclinical and clinical development, including a
differentiated niacin analog being developed for the treatment of
dyslipidemia. The Company's vision is to create a fully integrated
pharmaceutical company leveraging its drug discovery expertise to develop
transformational, patent protected, medicines that offer distinct safety,
efficacy and/or tolerability benefits compared with existing therapies for
large markets, whose needs are not being fully met by current therapeutics.
Certain statements in this press release, including statements regarding the
Company's research and development effort, the Company's ability to finance
its development programs into initial human clinical testing, and the
Company's ability to successfully capitalize on the early stage research are
subject to risks and uncertainties. These risks and uncertainties include
risks and uncertainties related to: our ability to discover and develop new
compounds and products using a novel approach to drug discovery; the early
stage of all of our discovery and development efforts; our ability
successfully to complete preclinical and clinical development of our products;
our ability to obtain and maintain regulatory approvals for our products;
competition from other technologies and technologies similar to ours;
obtaining, maintaining and protecting intellectual property utilized by our
products; changes in legislation and regulations affecting our products and
potential product candidates; our need to obtain additional funding to support
our business activities; our dependence on collaborators and other third
parties for development, manufacture, marketing, sales and distribution of
products; the ability of our licensees to achieve developmental, regulatory
and other milestones and to commercialize their products; the effect of
conditions in the pharmaceutical industry and the economy in general, as well
as certain other risks and uncertainties. Grants reported in this press
release was supported by the National Cancer Institute of the National
Institutes of Health under Award Numbers R41CA174008, 1R41CA174031-01, and
Contact Arisaph Pharmaceuticals, Inc.
President and CEO
SOURCE Arisaph Pharmaceuticals, Inc.
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