Sterotherapeutics Signs Licensing Agreement Aimed to Improve the Treatment of Multiple Myeloma
30 Mar, 2022, 08:00 ET
DOYLESTOWN, Pa., March 30, 2022 /PRNewswire/ -- Sterotherapeutics, LLC announced today that it has entered into an exclusive agreement with Moffitt Cancer Center and Florida Atlantic University Research Corporation for a license to novel compounds and methods for the treatment of multiple myeloma. The licensed compounds are highly selective matrix metalloproteinase 13 (MMP-13) inhibitors that display robust modulation of osteoclastogenesis with excellent solubility and stability that portend to be highly effective add-on treatments to the current standard of care.
"This partnership with Moffitt Cancer Center and the Research Institute of Florida Atlantic University will allow us to further develop this novel line of highly selective MMP-13 inhibitors for the treatment of multiple myeloma to fulfill our strategic intent to bring revolutionary, breakthroughs and innovations that significantly impact the lives of patients with orphan diseases as well as potentially larger indications with unmet needs," said Dr. Manohar Katakam, CEO of Sterotherapeutics.
"We are delighted to work with Sterotherapeutics to further develop this novel line of highly selective MMP-13 inhibitors for the treatment of multiple myeloma. We anticipate that the inhibition of MMP-13 will not only reduce tumor burden but also protect against myeloma induced bone destruction, a painful aspect of this disease that greatly diminishes patient quality of life," said Dr. Conor Lynch, senior member of the Tumor Biology Department at Moffitt Cancer Center.
"The teaming up of Florida Atlantic University, Moffitt Cancer Center and SteroTherapeutics will facilitate the bench-to-bedside path for a new class of chemical compounds that represent disease-modifying agents for treatment of cancer," said Dr. Gregg Fields, co-director of the Memorial Cancer Institute/Florida Atlantic University Cancer Center of Excellence.
About Multiple Myeloma
Multiple myeloma is a treatable, but incurable cancer of the bone marrow plasma cells. It is a hematological malignancy of the plasma cells-the white blood cells that produce antibodies (immunoglobulins). Myeloma begins when plasma cells become abnormal and occupy the bone marrow and produce aberrant antibodies called M proteins that engender over expression and activation of osteoclasts thus reducing osteoblasts whilst severely damaging and weakening bone. It is the second most frequently occurring hematological cancer in the United States, after non-Hodgkin's lymphoma.
SteroTherapeutics, a Philadelphia, PA area-based company, is focused on developing novel orphan disease therapeutics with significant unmet needs as well as potentially larger indications affecting large patient populations. SteroTherapeutics lead products have been proven in previous animal and human studies to possess a strong safety profile and established mechanisms of action. The company's strategic intent is to focus on platform technologies and corresponding disease pathways in disease states with significant unmet or underserved medical needs. In each individual disease target Sterotherapeutics embraces the opportunity to provide safe, effective treatments and restore an optimal quality of life.
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