Compound raises $15.5 million for cancer products

Compound is developing next generation biotherapeutics with its AdNectin and AdZyme technologies. AdNectins are a superior alternative to monoclonal antibodies, and AdZymes are catalytic protein antagonists.

The company’s initial product candidate, CT-322, is an AdNectin that inhibits vascular endothelial growth factor receptor-2 (VEGFR-2) and has shown positive results in animal tumor models. GMP (good manufacturing practices) are currently being initiated, and the compound will enter the clinic in early 2006.

The company is optimizing AdNectin antagonists against a second oncology target and expects to file an investigational new drug (IND) application for that product candidate in early 2007. The technology enables Compound to generate a pipeline of product candidates from which the company plans to file at least one IND every 12 to 18 months.

“Compound Therapeutics is truly pioneering the next wave of protein therapeutics with AdNectins and AdZymes. Our lead product, CT-322, is just a year from clinical evaluation in cancer, and its preclinical development has taken only half the time that an antibody would require,” said L. Patrick Gage, executive chairman at Compound and venture partner at Flagship Ventures.

“The landscape is beginning to shift away from traditional antibodies as the industry realizes that new technologies are needed to overcome the many commercial and clinical limitations associated with antibody-based products.”

Targeted therapeutics, such as CT-322, are the most promising and fastest-growing segment of the $40 billion dollar oncology market.