Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.BioSante Pharmaceuticals has sold worldwide rights to develop and commercialise its oncolytic virus technology to Cold Genesys exclusive, which includes CG0070, a replication-competent adenovirus that has completed a Phase I clinical trial for treatment of superficial bladder cancer.
Subscribe to our email newsletter
In exchange for the technology, BioSante received a 19.9% ownership position in Cold Genesys and a $95,000 upfront cash payment and is eligible to receive future milestone and royalty payments.
BioSante said that oncolytic (cancer cell killing) virus therapy is new therapy that utilises adenoviruses, a cause of the common cold, which are engineered to selectively replicate in targeted cancer cells, thereby killing these cells while leaving healthy cells largely unharmed.
Reportedly, the virus is designed to replicate in cancer cells producing large amounts of oncolytic virus until the cancer cell can no longer contain the virus and bursts.
BioSante president and CEO Stephen Simes said that it was an important step in maximising the value of technologies acquired late last year.
Cold Genesys urologist and COO Paul DeRidder said that CG0070 has demonstrated that tumor cell destruction may be achieved through direct adenovirus-mediated oncolysis and GM-CSF induced anti-tumor cell immune activation.
"Given the significant toxicity and limited efficacy of current treatment options, additional therapies for superficial and invasive bladder cancer are needed in order to increase bladder preservation and improve long term outcomes," DeRidder said.