Virionyx changes name to Innate Therapeutics

The new name reflects a major repositioning of the company to focus development activities on its drug candidate MIS416, which has shown promising activity in preclinical proof-of-principle studies in cancer, infectious and autoimmune diseases.

The company plans to initiate a Phase I human safety study with MIS416 in New Zealand within the second quarter 2009, and, if positive, will pursue Phase II trials in cancer in 2010. The company also said that it had recently raised NZ$3 million from existing New Zealand and US shareholders to support the Phase I trial.

Simon Wilkinson, CEO of Innate Therapeutics, said: “We are very excited about our research with MIS416 to date. In preclinical studies, MIS416 has demonstrated significant activity against such disease threats as anthrax, plague, and influenza, as well as significant antitumor activity in metastatic breast and lung cancers, as both a standalone agent and in combination with standard radiotherapy.”