Tuesday, 23 April 2013

Advanced Proteome Therapeutics gets notice of issue for new U.S. patent tied to cancer treatment; appoints consultant

Advanced Proteome Therapeutics (CVE:APC) says it has received a notice of issuance for a new U.S. patent with regards to its Foundation Trinity cancer treatment, and has also appointed biotech veteran Edward K. Hyslop as a consultant to the company. 
The company told investors Monday afternoon that it received a notice of issuance for its patent application allowing the "formation of homogeneous adducts", with the notification indicating an issue date of April 30. 
The application covers chemical modifications of proteins targeted for cancer cells. 
"These modifications are enabling, in that they permit the formation of conjugates that can be used in a variety of applications including cancer and wound healing," the company said in its statement on Monday. 
Advanced Proteome has a potential three-in-one cancer treatment that acts as a targeted, combination and homogeneous therapy - all in a single agent.
The company's technology is based on a proprietary platform that can be used to attach known therapeutics to specific sites on proteins - in this case, proteins that have shown affinity for specific cancer cells, hence the targeted and combination therapy. 
The attachments are designed to boost the properties of the protein targeted for the specific cancer cells, giving it additional therapeutic abilities. The homogeneity aspect of Advanced Proteome's therapy originates from the use of a protein not only as a delivery system, but also as a scaffold on which to attach each anti-cancer entity to its own specific site on the protein - key to efficient manufacturing and product development. The feature allows the company to produce single agents, or protein conjugates, bearing multiple therapies. 
The new U.S. patent to be issued covers composition of matter that protects the modified forms of proteins, allowing the attachment to specific sites on such proteins that will enable them to transport chemotherapeutic drugs and other targeted entities to the cancer cells. 
“We are very pleased to announce this Notice of Issuance that is an important component of our ability to employ combination therapy in a homogenous manner in a single agent," said president and CEO Allen Krantz in the release. 
"It is one of a number of pending patent applications with the USPTO expected to cover aspects of our Foundation TrinityTM Technology, which will employ targeted therapy, combination therapy, and homogenous therapy versus cancer cells."
The company said it is also pursuing patent applications related to the Foundation Trinity technology in multiple jurisdictions outside the United States. 
Also Monday, the company announced that Edward Hyslop has been appointed as a consultant. Dr. Hyslop retired after 25 years of service in general practice and as a clinical professor in the department of medicine at the University of British Columbia. 
Advanced Proteome also says he has been involved in multiple start-up resource projects, earth science and biotechnology companies, generally raising capital, advising strategy, and active on the boards in driving their evolution from a technology start-up to a commercial enterprise. He has also served as chairman of Advanced Proteome Therapeutics
“I am delighted to welcome Kelly in a new role at APC,” said Krantz in the statement. “His vast experience in fostering growth of early stage companies and deep knowledge of our corporate mission will be invaluable in helping the company achieve its ambitious goals and objectives.” 

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