The iQ Group Global acquires new anticancer drug platform from University of Texas

AUSTIN, Texas, Sept. 16, 2019 /PRNewswire/ -- The iQ Group Global, an enterprise dedicated to developing early stage bioscience assets, today announced it has added a novel anticancer drug platform to its portfolio that has the ability to develop a range of cancer therapeutics.

TEX-Core is an anticancer drug platform that has the ability to develop a range of well-tolerated, MRI-detectable cancer therapeutics that target drug-sensitive and drug-resistant solid tumors. ­

The first cancer therapeutic to be commercialized from the platform is OxaliTEX, a novel chemical entity (WO 2015/191797) that targets only solid tumor cells, activates within the tumor and overcomes drug-resistance mechanisms with minimal side effects.

Pre-clinical research conducted at the University of Texas and MD Anderson Cancer Center has shown that OxaliTEX localizes to ovarian, lung and colon tumors, and is superior to traditional platinum-based chemotherapy drugs.

"TEX-Core is a landmark development in oncology that will significantly improve the efficacy of platinum-based cancer therapeutics," Chairman and Chief Executive Officer of The iQ Group Global Dr. George Syrmalis said.

Currently, 50 percent of all chemotherapy patients are treated with platinum-based chemotherapy. Despite their wide use, these platinum compounds are known for extreme side effects, which means doses must be limited. In addition, patients often present with platinum resistance, which makes the treatment ineffective.

The lead indication for OxaliTEX is ovarian cancer, the number one cause of gynecological cancer deaths globally. More than 239,000 women are diagnosed with ovarian cancer every year, and only 45 percent survive beyond five years.

"OxaliTEX provides new hope for ovarian cancer patients who are not responding to standard of care (SOC) therapies, as it has the ability to kill cancer cells even when tumors are advanced and platinum-resistant, which is unfortunately the case with most ovarian cancer diagnoses," Dr. Syrmalis said. ­­

The iQ Group Global acquired TEX-Core from the University of Texas and will work together with TEX-Core researchers and inventors, and the MD Anderson Cancer Center, to commence clinical trials in the next 12 months. The Group then plans to develop OxaliTEX through an orphan drug designation in ovarian cancer, utilizing an expedited FDA approval pathway.

"Our research shows that, once developed, OxaliTEX will be a cost-effective, highly impactful treatment that will give cancer patients a much better quality of life, during the biggest fight of their life," Dr. George Syrmalis said.

About The iQ Group Global
The iQ Group Global is a consortium of companies that find, fund and develop bioscience discoveries into life-changing medical innovations, and take them to the people who need them most. The Group's flagship innovation is the Biosensor, another platform technology intended to democratize diagnostic testing by empowering patients to self-test, and physicians to conduct real time diagnostic testing at the point of care. Visit our website: www.theiqgroupglobal.com.

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SOURCE The iQ Group Global