Modern Biosciences plc - Enters fourth drug development agreement with UK academia
26 Jun 2008
Modern Biosciences plc (MBS), the drug development company, and the University of Bradford have entered into an exclusive agreement to develop a new class of anti-cancer drugs.
The Institute of Cancer Therapeutics (ICT) at the University of Bradford has developed a targeted vascular disrupting agent (VDA) that has the potential to overcome the lack of tumour selectivity and systemic toxicity associated with many chemotherapeutic agents.
The University of Bradford has granted MBS an exclusive 12-month option to license the technology. MBS will take up its option following the completion of certain confirmatory proof-of-principle studies. MBS will fund and manage all development work while revenues generated through commercialisation will be shared with the University.
The ICT at the University of Bradford has considerable expertise in cancer drug development and will play a significant ongoing role in the VDA programme. Funding from the University, the Science Research Investment Fund (SRIF), Yorkshire Cancer Research and the European Regional Development Fund (ERDF) has enabled the ICT to recruit pre-eminent individuals in the field of cancer drug research, build state-of-the-art facilities and create a successful contract research business.
Dr Sam Williams, Chief Executive Officer of Modern Biosciences plc, said: “This is our fourth agreement with UK academia, adding to our previous deals with the Universities of Aberdeen, Dundee and Manchester, and demonstrates MBS’ commitment to building a diversified portfolio of drug development programmes. The ICT’s ability to grow a thriving contract research business shows that it can perform cancer development work to international pharmaceutical industry standards. We look forward to moving to a full license arrangement in due course.”
Professor Laurence Patterson, Director of the Institute of Cancer Therapeutics at the University of Bradford, added: “We are delighted to have MBS as a partner. Of the various potential collaborators we have spoken to, MBS performed the highest quality of due diligence and was able to move the quickest towards an agreement. In addition, MBS devised the best plan for moving the project to proof-of-principle data in man and value inflexion.”
For further information, please contact:
Modern Biosciences plc
Dr Sam
Williams, CEO 020 7002 1529
Press Enquiries for Modern Biosciences
plc
The Hogarth Partnership 020 7357
9477
Melanie Toyne-Sewell / Sarah MacLeod / Simon Hockridge
Notes for Editors
About Modern Biosciences plc
Modern Biosciences plc is a drug development company which sources late-stage discovery projects from academia and start-up companies, conducts early proof-of-principle clinical studies and then out-licenses to the pharmaceutical industry. The Company has three projects in development; two in the field of cancer and one in inflammation.
For more information, please visit our website at www.modernbiosciences.com
About the Institute of Cancer Therapeutics
The ICT is focused on the design, synthesis and evaluation of anticancer therapies with the objective of progressing cancer medicines from concept to clinic. Towards this aim the ICT has considerable expertise in the area of cancer drug discovery and translational pharmacology. The ICT is housed in a new purpose built building funded from the University, Science Research Investment Fund (SRIF), Yorkshire Cancer Research and the European Regional Development Fund (ERDF). The ICT has excellent facilities with which it services the thriving contract research business it offers to the pharmaceutical industry. See www.cancer.brad.ac.uk for further details.
