POINT Acquires exclusive rights to breakthrough pan-cancer treatment
TORONTO and BOSTON, Nov. 10, 2020 (GLOBE NEWSWIRE) -- POINT Biopharma Inc. (POINT) today announced that it has entered into a definitive agreement with Bach Biosciences, a company commercializing the research of William Bachovchin, Professor of Developmental, Chemical and Molecular Biology at Tufts University School of Medicine, Boston. The agreement provides POINT the exclusive global rights to commercialize the groundbreaking canSEEK™ tumor targeting technology.
With canSEEK™, POINT expands its theragnostic oncology pipeline to include PNT2004, a pan tumor treatment. By seeking out highly expressed markers found in many tumors but not found in healthy tissue, canSEEK™ is a promising technology for use in next generation radiopharmaceuticals, as it may allow for the precision treatment of a variety of solid tumor cancers.
“An indication agnostic radioligand holds tremendous promise and we see this asset as a pipeline in a product, targeting multiple tumors, and making a difference for many patients,” says Dr. McCann, CEO of POINT. “This product has unmatched tumor specificity and on target retention that we have not seen in other products and competitive molecules, giving us great hope as we bring this transformative product to patients in clinical trials.”
Professor Bachovchin will continue to develop the drug in partnership with POINT. Beyond PNT2004, POINT has a strong pipeline of exciting radioligand treatments for several oncology indications.
About Bach Biosciences LLC
Bach Biosciences LLC is a mission-driven drug discovery/development company associated with Dr. William Bachovchin's laboratory at Tufts University School of Medicine. Bach Biosciences is making breakthrough discoveries and fostering their advance into therapeutics for patients, on its own or by working in partnership with other life science companies. Bach Biosciences' leadership and development team is highly skilled in the design, synthesis and preclinical characterization of new drug candidates, as well in translational medicine and pharmaceutical development, having had a number of programs move into clinical development and into the marketplace. The company and its founders have established strategic partnerships with contract research organizations, investors, and pharmaceutical partners to support technology development. Dr. Bachovchin is the inventor on 65 issued US patents, including reach-through patents covering the field of DPP-IV inhibitors for treating diabetes, a $10B market, as well as FAP and other post-proline cleaving enzymes of interest to the pharma industry.
About POINT Biopharma
POINT Biopharma is a globally focused radiopharmaceutical company building a platform for the clinical development and commercialization of radioligands that fight cancer. POINT is combining a portfolio of best in class radiopharmaceutical assets, a seasoned management team, strategic partnerships in radio-isotope supply, manufacturing technology and novel direct to patient targeting to revolutionize theranostic drug development and radioligand commercialization.
Investor or Media Inquiries:
Michael Gottlieb
mgottlieb@pointbiopharma.com
(647) 268-4160
www.pointbiopharma.com