Mar 14 2007
Azaya Therapeutics has been granted a patent from the U.S. Patent and Trademark Office for Azaya's novel PSL nanotechnology platform. The PSL technology allows for the consistent loading, sizing and stabilizing of active drugs into targeted nanoparticles.
The company's first application of its PSL technology is an innovative, targeted and more efficacious formulation of one of the world's top-selling chemotherapy drugs. Oncology drugs are a $60+ billion annual worldwide market with a growth rate forecast of 16 percent annually. With some of the top-selling oncology drugs coming off patent over the next several years, PSL technology has the potential to extend the life of many of these drugs for years with formulations that make them more effective than their original versions, said Azaya president and CEO Michael T. Dwyer.
"PSL nanotechnology is a breakthrough for the formulation and targeting of effective, yet insoluble drugs and has the potential for very broad application to a wide variety of formulations," said Dwyer. "We have been able to demonstrate that PSL formulation of a standard-of-care, yet toxic, chemotherapeutic allows for dosing at higher levels, increased drug concentration and circulation time, and statistically significant tumor growth inhibition compared to the original formulation. We've clearly proven the principle of what PSL nanoparticles are capable of doing."
Drugs for diseases other than cancer may offer similar opportunities, Dwyer said.
Azaya's one-step, proprietary manufacturing process allows for the consistent production of uniform nanoparticles. This size allows for selective tumor accumulation due to the tumor's leaky vasculature. PSLs also offer significant advantages in stabilization and loading efficiency compared to products from competing companies.
With the securing of Azaya's patent protection in this area, the company will be presenting the results of pre-clinical studies involving PSLs at the April 2007 meeting of the American Association of Cancer Researchers. Additionally, the company expects to begin a phase I clinical trial of their lead candidate later this year.
Azaya's business strategy, built around the PSL nanotechnology platform, focuses on three main areas: reformulating existing drugs, licensing PSL nanotechnology to third-party biopharmaceutical companies and developing new PSL-based drugs using promising compounds Azaya has identified.
The company's management is highly experienced in biotechnology and oncology and has a track record of obtaining FDA drug approvals and successfully building companies. Dwyer previously held several key executive positions with Ilex Oncology, Inc. and was instrumental in the development and approval of the company's drug, Campath® (alemtuzumab).
http://www.azayatherapeutics.com
14th March 2007