Prescient’s PTX 200 receives Notice of Allowance for US patent

By Trevor Hoey. Published at Jul 26, 2018, in ASX Biotechs

Clinical-stage oncology company Prescient Therapeutics Ltd (ASX:PTX) has received a Notice of Allowance for a new patent covering its lead clinical compound PTX-200 for the treatment of ovarian cancer in the United States.

This drug candidate inhibits an important tumour survival pathway known as Akt, which plays a key role in the development of many cancers, including breast and ovarian cancer, as well as leukemia.

Unlike other drug candidates that target Akt inhibition which are non-specific kinase inhibitors that have toxicity problems, PTX-200 has a novel mechanism of action that specifically inhibits Akt whilst being comparatively safer.

Investors have warmed to Prescient since mid-July with its shares increasing 20 per cent from 9.6 cents to a recent high of 11.5 cents.

The past performance of this product is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.

Targeting large ovarian cancer market

This latest patent adds to Prescient’s broad patent estate, and provides the company with intellectual property protection covering its lead compound for the treatment of ovarian cancer and a sub-population of patients with a tumour or cancer cell that over-expresses Akt.

It should be noted there that PTX is in the early stages of its research and investors should seek professional financial advice if considering this stock for their portfolio.

The American Cancer Society estimates 22,240 women will be diagnosed with ovarian cancer in 2018 in the US.

The Australian Institute of Health and Welfare estimates over 1,600 Australian women will be diagnosed with ovarian cancer in 2018.

Few treatment options once resistance starts

Ovarian cancer often becomes resistant to first line therapy of carboplatin, and once it does, there are very few treatment options for patients.

Prescient is seeking to reverse treatment resistance for these women by administering PTX-200 to block the Akt pathway that contributes to resistance, in combination with carboplatin.

This current Phase 1b trial is being undertaken at the H. Lee Moffitt Cancer Center in Florida under the leadership of Dr Robert Wenham, Chair of the Department of Gynecologic Oncology.

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