PHARMACEUTICALS
experienced life science investors. The company’s principal location is Oxford, where its laboratories are based, but the company also has an historical link to London via Imperial College. Its cachexia activities are closely linked to those of one of its scientific founders, Professor Stefan Anker, whose cachexia research group is based at the Charité Medical school in Berlin, Germany. “Diseases with significant global morbidity and mortality are those with the most meaningful unmet clinical need and cancer remains an important cause of death and suffering in both developed and developing countries,” says Beadle. “There is therefore significant unmet clinical need for new more effective cancer treatments. There are no registered treatments cancer cachexia, which is estimated to be the direct cause of up to 40 per cent of all cancer deaths. In preclinical models, MT-102 has been shown to significantly improve body weight, muscle mass and fat mass, and improved survival and mobility, and it is now in Phase 2 clinical development.
“Solid endothelial cancers still represent an important cause of death around the world. ColoAd1 is a highly potent broad-spectrum anti-cancer therapeutic capable of selectively destroying tumour cells at minute concentrations. It is a unique oncolytic virus developed using the evolutionary principle of natural selection to generate a virus with optimal anti-cancer properties. “We will develop our products through to clinical proof of concept, with an aim to partnering or out-licensing at the end of Phase 2,” says Beadle. “Our platform technologies may be licensed at an earlier stage and we are in discussions with leading companies with an expectation of announcing our first deals in
2012. MT-102 will complete Phase 2 recruitment in early 2012, with data reported in the latter part opf tehe year. ColoAd1 will enter Phase 1/2 clinical development in early 2012.”
Outsourced business model Psioxus operates a relatively virtual outsourced model beyond its internal research and discovery activities, and manufacturing, preclinical and clinical research operations are largely outsourced. Beadle says that for an early-stage company this keeps the vast majority of its investment directed at its portfolio, rather than supporting an expensive and unwieldy set of overheads. PsiOxus was initially financed through a Series A fundraising of £5.65 million in 2010, which was added to by an investment of £1.8 million by The Wellcome Trust in 2011. The company now employs 12 people at its offices and category 2 laboratories in Oxford. It plans to increase the number of staff to 20 and move to new, larger bespoke facilities in early 2012. Future prospects Beadle says PsiOxus intends to remain independent, with or without further M&A activity, through the next three to five years: “Beyond that point, and having created significant shareholder value with our existing platforms and projects, the company will identify the best possible strategic options. This may include a transformational M&A or exit transaction.
“2012 will be a critical year for Psioxus. Our
MT-102 Phase 2 clinical study will complete in late 2012 and our ColoAd1 Phase 1 study will initiate in mid-2012. In addition to our clinical- stage development assets we also expect to have positive newsflow from our research- stage projects in 2012. And we plan to double our staff levels and move into a new set of
Meet John Beadle of PsiOxus
Dr John Beadle is the chief executive officer of Psioxus Therapeutics Ltd. He was previously a co-founder and the chief medical officer of PowderMed Ltd, a private Oxford, UK-based biotechnology company, which he helped to build and lead before a successful trade sale in 2007 to Pfizer Inc. Following a period as site head within Pfizer, Dr Beadle then became Entrepreneur in Residence at Imperial College London and has held the role of chief executive officer in a number of Imperial College start-up companies. He is also the founding partner of his own consulting and investment company, EggPharm LLP.
Prior to these roles, Dr Beadle held research and development roles of ascending seniority within The Wellcome Foundation, GlaxoWellcome and GlaxoSmithkline, where he was vice president of global medical operations. He was then vice president of product development at PowderJect before its acquisition by Chiron.
bespoke laboratories in Oxford in the first half of 2012.”
Further information Dr John Beadle CEO PsiOxus Therapeutics Ltd PO Box 10972 Billericay Essex CM12 2BS United Kingdom Tel: +44 1277 829859
Internet links Email:
enquiries@psioxus.com
Web:
www.psioxus.com Order reprints of your articles
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