Lead assets nearing the clinic and signing new significant drug discovery collaboration with Ono Pharmaceutical
WROCLAW, Poland, Nov. 25, 2022 (GLOBE NEWSWIRE) — Captor Therapeutics SA (WSE:CTX), a biopharmaceutical company focused on the development of targeted protein degradation (TPD)-based drugs for the treatment of cancer and autoimmune diseases, reports its third quarter 2022 financial results and business update . The Company continued to make significant progress in the development of its lead programs during the period, most notably CT-01, with the selection of a drug candidate and initiation of the necessary steps to generate the data required to begin clinical trials in patients. Subsequent to the reporting period, the company announced that it had signed a drug discovery collaboration with Japanese pharmaceutical company Ono Pharmaceutical worth up to USD 197 million.
CT-01 is Captor’s lead compound and is being developed to treat hepatocellular carcinoma (a type of liver cancer). Previous pre-clinical studies allowed Captor to select the best drug candidate to advance to the clinic. As a result, Captor has taken the necessary steps with this drug candidate to generate the data required for submission of a clinical trial submission (CTA) and an investigational new drug application (IND). These activities include larger scale manufacturing, toxicological testing and more in vivo Efficacy tests, the latter in animal models, confirming that the drug candidate causes strong tumor regression. Captor remains on track to initiate a clinical trial in 2023.
Captor continued to expand its partnership activities and announced an agreement with Ono Pharmaceutical Co. Ltd. known. (which took place after the end of the reporting period) to develop small molecule compounds capable of degrading a selected molecular target, mainly for use in neurodegenerative diseases for which there is currently no effective therapy. The market for neurodegenerative diseases (ie, a group of diseases that includes Alzheimer’s disease and Parkinson’s disease, among others) is estimated to be worth tens of billions of dollars annually and, in most cases, is growing steadily due to the aging of the population industrialized countries.
This agreement with Ono Pharmaceutical offers Captor not only an upfront payment, R&D funding and potential milestones that could reach up to €197 million, but also royalties. This agreement with Ono Pharmaceutical is a strong endorsement of Captor’s research and development capabilities. It is also an important event for the TPD field as it is an early example of CNS-focused collaboration and points to the broader field of therapeutic applications in which TPD could be used. This discovery-stage partnership is one of the largest ever signed in the Polish biotechnology market.
“The last few months have brought us closer to a major breakthrough in the research and development of our own projects. We have also begun to monetize interest in our platforms and technologies from major pharmaceutical companies, as evidenced by the agreement signed with Ono Pharmaceutical. Captor is financially and technologically ready to enter the next growth chapter. Not only do we have the capabilities to bring CT-01 to the clinic and advance our internal pipeline through pre-clinical development, but our recent advances in pre-clinical capabilities provide us with the breadth necessary to enter into new strategic partnerships,” said dr Michał Walczak, Board Member and Chief Scientific Officer of Captor Therapeutics.
In Q3 2022, Captor generated PLN 9,175,000 in revenue, including PLN 5,171,000 from non-dilutive grants and PLN 1,110,000 from technology collaboration with Sosei Heptares aimed at developing new degraders against a G-protein coupled receptor to discover (GPCR) target.
“The development path of Captor Therapeutics definitely fits the desired growth model of a biotech company. Starting as a small startup, then through our first collaboration, a strong IPO and signing our largest partnership to date with Ono. We envision even more for our company and see real potential for strong growth, as does the TPD sector as a whole and our peers such as MonterRosa Therapeutics and the more advanced Nurix, C4 Therapeutics, Kymera and Arvinas. The partnership with Ono is a clear signal to the market that not only confirms the quality of our Optigrade platform, but also demonstrates our team’s expertise in TPD technology and shows how the scope of TPD extends well beyond oncology and autoimmune diseases. “ said dr Tom Shepherd, Board Member and CEO of Captor Therapeutics.
About Captor Therapeutics
Captor Therapeutics is a biopharmaceutical company dedicated to utilizing Targeted Protein Degradation (TPD) technology to discover and develop breakthrough medicines for diseases considered medically untreatable. TPD is a revolutionary approach to the development of new drugs that can target new molecular targets considered “untreatable” with classical drug development methods and provide additional treatment options for diseases where existing drugs do not provide optimal medical benefit. Captor is currently developing treatments for undertreated serious diseases, including malignancies and autoimmune diseases.
For more information on Captor Therapeutics, visit: http://www.captortherapeutics.com
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