Sydney, Australia – September 2019 – Australian bioscience enterprise The iQ Group Global is shaking up the local biotech industry with its acquisition of a novel anticancer drug platform from leading US medical research giant the University of Texas, The Group has announced.
The iQ Group Global has acquired TEX Core, a drug platform that has the ability to develop a range of well-tolerated, MRI-detectable cancer therapeutics that target drug-sensitive and drug-resistant solid tumours.
The first cancer therapeutic to be commercialised from the platform is OxaliTEX, a novel platinum-based chemotherapeutic that targets only tumour cells, activates within the tumour and overcomes drug-resistance mechanisms with minimal side effects.
Pre-clinical research conducted at the University of Texas and MD Anderson Cancer Center has shown that OxaliTEX localises to ovarian, lung and colon tumours, and is superior to traditional platinum-based chemotherapy drugs.
"TEX Core is a landmark development in oncology that will significantly improve the efficacy of platinum-based cancer therapeutics," Chairman and Chief Executive Officer of The iQ Group Global Dr. George Syrmalis said.
Currently, 50 percent of all chemotherapy patients are treated with platinum-based chemotherapy. Despite their wide use, these platinum compounds are known for extreme side effects, which means doses must be limited. In addition, patients often present with platinum resistance, which makes the treatment ineffective.
The lead indication for OxaliTEX is ovarian cancer, the number one cause of gynaecological cancer deaths globally. More than 239,000 women are diagnosed with ovarian cancer every year, and only 45 percent survive beyond five years.
"OxaliTEX provides new hope for ovarian cancer patients who are not responding to standard of care (SOC) therapies, as it has the ability to kill cancer cells even when tumours are advanced and platinum-resistant, which is unfortunately the case with most ovarian cancer diagnoses," Dr. Syrmalis said.
The iQ Group Global will be working together with the OxaliTEX researchers and inventors at the University of Texas and MD Anderson Cancer Center in the US to commence clinical trials in the next 12 months. The Group then plans to develop OxaliTEX through an orphan drug designation in ovarian cancer, utilising an expedited approval pathway.
"At The iQ Group Global, we are dedicated to creating the medicines of tomorrow. TEX-Core, our novel anticancer drug platform and OxaliTEX mark a new future for cancer therapy and constitute a milestone acquisition for the Australian biotech industry," Dr. Syrmalis said.
About The iQ Group Global
The iQ Group Global is a consortium of companies that find, fund and develop bioscience discoveries into life-changing medical innovations, and take them to the people who need them most. The Group's flagship innovation is the Biosensor, another platform technology intended to democratise diagnostic testing by empowering patients to self-test, and physicians to conduct real time, diagnostic testing at the point of care. Visit our website: www.theiqgroupglobal.com.
