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Thursday, 4 April 2013
Advanced Proteome's stock picks up steam, doubles since start of the year
Shares of Advanced Proteome Therapeutics (CVE:APC) are up again Thursday, rising more than 29 percent since late February, when the company first announced its business plans for this year, specifically with regards to its potential three-in-one cancer treatment that acts as a targeted, combination and homogeneous therapy - all in a single agent.
Its stock is up more than 11 percent this afternoon, at 20 cents, and has risen from 15.5 cents on February 25, the date of its big announcement detailing the development plan for its therapy. The shares have more than doubled since the start of the year.
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.
And the Canadian drug maker is indeed progressing.
Last month, the company told investors it has prepared its own protein conjugates for testing as part of its potentially groundbreaking anti-cancer therapy.
As the next step in its plan, Advanced Proteome is now in negotiations with experts in the cancer field to test the properties of these agents in their respective laboratories.
It expects that over the next months, any promising agents will undergo animal testing in a second round, to determine the potency and toxicity of the therapy.
"The general feeling in the field is that it is immensely difficult to control cancer for a very long time with a single therapy because of the heterogeneity of cancer cells and resistance issues, which is why combination therapy is so important," CEO Allen Krantz told Proactive Investors back in February.
“The more advanced the cancer, the more “weapons” you need in combination therapy," he said, likening his company's therapy to a "multiple warhead" in the so-called war on cancer.