BIRMINGHAM, Ala., March 10, 2011 /PRNewswire/ -- PNP Therapeutics, Inc. — an early-stage Birmingham-based biopharmaceutical company created from research conducted at Southern Research Institute and The University of Alabama at Birmingham (UAB) — today announced that several major objectives have been reached in the development of its therapeutic technology platform and proprietary products for the treatment of cancer.
"A number of important regulatory and financial efforts came to fruition, enabling PNP Therapeutics to begin a crucial phase in product development," said Frank R. Hunt, chief executive officer of PNP Therapeutics, Inc. "We are delighted that we accomplished these goals so we can continue moving our technology products forward."
According to Hunt, those objectives included:
- Receiving FDA approval of its Investigational New Drug (IND) application which will now allow PNP to conduct its first-in-man studies;
- Signing an agreement with UAB to conduct clinical trials at its Comprehensive Cancer Center;
- Enrolling and treating the first clinical trials patient;
- Closing on a second round of funding worth $1,217,635 from its original investors;
- Gaining a commitment from Southern Research Institute to become a direct investor in the company; and
- Being awarded a $245,000 grant from the federal government as part of its Qualifying Therapeutic Discovery Project.
At the center of PNP's Therapeutic System is a patented enzyme (E. coli purine nucleoside phosphorylase) which has been shown to work with a variety of well-characterized nucleoside prodrugs generating active metabolites with high levels of anti-tumor activity. PNP Therapeutics is the exclusive licensee of a comprehensive collection of patents that broadly and specifically cover the Company's technology. These patents are owned jointly by the University of Alabama at Birmingham Research Foundation and Southern Research Institute of Birmingham.
Many common cancers can become untreatable despite the best medical intervention and the highest standard of care; some are eventually fatal. Compounds that could kill tumors are typically much too toxic to administer systemically to an already debilitated cancer patient.
PNP's therapeutic strategy is based on the notion that solid tumors can be programmed to generate their own chemotherapy, causing their own self-destruction. This selectivity is achieved by producing the PNP enzyme directly within the tumor cells and facilitating the interaction between the enzyme and a circulating prodrug in a relatively enclosed environment — the tumor mass itself.
"We have shown that this mode of chemotherapeutic action is remarkably potent, abolishes otherwise refractory human cancers, and can be used safely because it is executed and confined within the tumor mass," said Hunt.
ABOUT PNP THERAPEUTICS
PNP Therapeutics®, Inc. is an early-stage, biopharmaceutical company engaged in the development of a platform technology and proprietary products for the treatment of cancer. www.pnptherapeutics.com. To learn more, please contact Frank Hunt at firstname.lastname@example.org or call 706-636-3049.
SOURCE PNP Therapeutics, Inc.