This will allow the company to open a Phase I study evaluating the safety of GGTI-2418 during the first quarter of 2009. GGTI-2418 is a synthetic peptidomimetic inhibitor of geranylgeranyltransferase I (GGTase I) that induces apoptosis by downregulating several pivotal oncogenic and tumor survival pathways.
Tigris has in-licensed the exclusive worldwide rights to GGTI-2418 from Yale University and the University of South Florida.
Edmundo Muniz, president and CEO of Tigris, said: “We are excited to reach this important corporate milestone and to advance this novel, targeted compound into the clinic.
“We look forward to completing the Phase I study of GGTI-2418 in two top Phase I cancer research centers and to continuing our rapid development of this agent. This is the first geranylgeranyltransferase inhibitor to move to clinical phase studies.”