Phoenix Molecular Designs Announces First Patient Dosed in Phase 1b Clinical Trial of PMD-026 Taking Aim at Triple Negative Breast Cancer

SAN DIEGO and VANCOUVER, BC, Nov. 24, 2020 /PRNewswire/ - Phoenix Molecular Designs (PhoenixMD), an industry leader in the development of precise cancer therapeutics focusing on first-in-class RSK kinase inhibitors, today announced that the first patient has been dosed in their Phase 1b clinical trial of PMD-026. This RSK targeting trial is a first of its kind in the battle to combat the most aggressive subtype of breast cancer, known as Triple Negative Breast Cancer (TNBC), which claims the lives of thousands of patients each year. This patented small molecule, PMD-026, positions PhoenixMD in the lead to fill an unmet medical need as an effective treatment for this serious medical condition. 

This new trial comes at a critical time as, to date, durable treatment options for TNBC have been extremely limited. PhoenixMD's lead asset, PMD-026, is the first purpose-built investigational drug specifically designed for TNBC. The company's goal is to develop a therapy to treat TNBC that offers advantages over current approaches by taking aim at RSK, which is an entirely new drug target. PMD-026 is different from other therapies in that it is an oral capsule that can be taken at home rather than requiring an in-clinic or in-hospital administration. In addition, based on the data obtained in their Phase 1 clinical trial, PMD-026 was well-tolerated without hair loss or peripheral neuropathy, which are side effects of a number of other chemotherapy drugs. This data from their Phase 1 clinical trial of PMD-026 in metastatic cancer will be presented at the San Antonio Breast Cancer Conference Dec 8-12, 2020.

"Our mission is to improve the outcome for TNBC patients. This is a pivotal time for PhoenixMD; our extensive research to finding a path forward has reached the next important clinical milestone. PhoenixMD continues to aggressively pursue the clinical development of PMD-026 in an accelerated timeline while always ensuring that patient care is first and foremost in every decision that we make. As we begin our Phase 1b clinical trial, I am excited about the opportunity to bring this therapy, that uniquely targets the RSK pathway, to women with TNBC who participate in our clinical trial and who so desperately need help not provided by existing treatment options," said Sandra Dunn, Ph.D., Chief Executive Officer, PhoenixMD."

Initially, 20 TNBC patients will be enrolled in this Phase 1b expansion trial. As with the Phase 1 trial, this new trial will be conducted at leading medical centers across the United States.

"As a TNBC survivor, who was diagnosed at 34 years old, and patient advocate in the breast cancer community, I cannot emphasize enough how important this trial could be in the lives of so many. For a long time, there has been an utter lack of treatment options for this vulnerable breast cancer population," said Tara Coleman, Licensed Occupational Therapist, and Lymphedema Therapist. "Trials like this are urgently needed, and it is my hope that this trial proves to be a game-changer for the TNBC community. It has been my honor to work with Sandra and her team; the strides they have made coupled with their enthusiasm and commitment to patient advocate involvement and patient care has been truly incredible."

"Today's announcement builds on PhoenixMD's success with our Phase 1 clinical trial in metastatic cancer patients, which PhoenixMD completed in September of 2020," said F. Andrew Dorr, M.D., Chief Medical Officer, PhoenixMD. "At this pivotal time, I would like to recognize the PhoenixMD and SciQuus Oncology teams who have worked so diligently throughout the COVID-19 pandemic and the Phase 1 clinical trial. We are ready to meet the challenges and successes ahead in this next phase. I firmly believe that every step we take is a step closer towards finding a successful treatment for TNBC."

For more information about the Company's Phase 1b clinical trial of PMD-026 in metastatic triple negative breast cancer, please visit www.clinicaltrials.gov (identifier NCT04115306).

About Phoenix Molecular Designs
PhoenixMD is a privately-held clinical-stage biopharmaceutical company designing precise cancer therapeutics and companion diagnostics by targeting kinases, a class of highly druggable enzymes to treat a wide range of oncology indications. PhoenixMD is focused on developing first-in-class inhibitors against RSK, an important drug target for cancer, heart disease, and inflammation. The company's leadership team boasts previous expertise in developing FDA-approved and marketed drugs for breast cancer. Due to PhoenixMD's emerging leadership in kinase inhibition, the company has entered into partnerships with well-recognized government, academic research institutions, and patient advocates, including the National Cancer Institute, MD Anderson, Kyushu University (Japan), University of Tuebingen (Germany), and the Susan G. Komen Foundation –San Diego. PhoenixMD has clinical headquarters in San Diego, CA, and pre-clinical operations in Vancouver, BC.

For more information, visit phoenixmd.ca.

Media contacts:

Morgan Consaul
Media Relations
Phoenix Molecular Designs
[email protected]
604-762-6443

Lesley Esford, Ph.D.
VP Strategic Alliances and Investor Relations
Phoenix Molecular Designs
[email protected]
604-674-1796

SOURCE Phoenix Molecular Designs