Cancer Therapeutics CRC (CTx) is proud to announce that it received the Australian CRC Association’s (CRCA) Award for Excellence in Innovation at the annual awards dinner in Canberra on 24 May. The award is in recognition of CTx’s discovery and development of novel oncology drug candidates targeting the PRMT5 enzyme. The enzyme regulates gene expression in cells and is a target for a range of cancers including common solid tumours and blood cancers. PRMT5 also plays a major role in switching between different types of haemoglobin in red blood cells and PRMT5 inhibitors are also being tested for their potential to assist in the treatment of important inherited disorders such as sickle cell disease and β-thalassemia.
CTx’s CEO, Dr Warwick Tong said ‘This award is further validation of the world class quality of the biology and chemistry research that is being undertaken in Australia and demonstrates that with the right financial support and clear direction, Australia’s research can be translated into commercially successful outcomes. This is the fifth program that CTx has licensed and with a growing portfolio of epigenetic and immuno-oncology programs we anticipate there will be more to come.”
The PRMT5 program was licensed to MSD (known as Merck in the US and Canada) in January 2016 in one of largest ever pre-clinical licensing deals originating from Australian research. The deal included a US$15M signature payment, with the potential for a further US$500M in development milestones, plus royalties on future product sales.
For more information contact:
Dr Warwick Tong, CEO
T: +61 3 9077 0809 M: +61 450 296930