BOZEMAN, Mont., Aug. 20, 2019 /PRNewswire-PRWeb/ -- NanoValent Pharmaceuticals, Inc., a development stage cancer
Timothy Enns, Chief Executive Officer and President of NanoValent Pharmaceuticals, stated: "This is a key moment in the history of NanoValent and its ambitions to create significant new therapeutic tools for the treatment of cancers and other significant unmet medical needs. NanoValent started with an extensive IP asset portfolio covering earlier generation nanosphere chemistry, but in partnership with Children's Hospital Los Angeles (CHLA) we were able to team novel chemistry with biological antitumor activity making this patent the most significant yet to be allowed. This granted patent recognizes the uniqueness of our invention and should form the foundation of potential commercial value in the United States. Our lead candidate, NV103 (CD99 targeted irinotecan) is in advanced pre-IND testing focused on Ewing Sarcoma (ES), but this patent forms the foundation for commercially defending NV103 and other therapeutics we develop."
Jon Nagy, Ph.D, Chief Scientific Officer and co-founder of NanoValent Pharmaceuticals, added: "The patent recognizes the long and detailed chemistry effort we have put into developing TNS versus other liposomal or nanoparticle inventions. By optimizing the composition, capability and stability of the TNS shell structure; we have created a platform that should enable NanoValent to create a wide range of novel therapeutics. Non-targeted nanoparticles are approved for clinical use with varied commercial success, but truly targeted nanospheres represent a potentially novel therapeutic class."
Timothy Triche, MD, Ph.D, Chief Medical Officer and co-founder of NanoValent Pharmaceuticals and Professor of Pathology and Laboratory Medicine and Co-Director of the Center for Personalized Medicine at Children's Hospital Los Angeles (CHLA) added: "It is exciting to see our years of work validated in a US patent and lead program progressing towards clinical testing. NV103 is our core validation program and we hope to progress that into Phase I clinical studies in early 2021 to support the objective of developing a safer and more effective therapeutic for adolescents with Ewing sarcoma (ES). But there is no doubt that TNS offers exciting potential in general oncology and beyond. We have promising research and development efforts underway in gene editing and separately in glioblastoma."
Tim Enns concluded: "NanoValent has been funded both in its oncology and non-oncology surgical adhesions work through over U.S. $ 4 million dollars in grants. Primary founder and seed financing was raised in 2017. This patent should support our goal of a financing effort in the fourth quarter of this year to accelerate our already ongoing pre-IND work for NV103, including optimization of manufacture and the full IND package required to start clinical trials."
About NanoValent Pharmaceuticals, Inc. NanoValent Pharmaceuticals, Inc., founded in 2006, is a privately-held company focused on the development and commercialization of a new generation of Targeted Nanospheres (TNS). Working in close collaboration with Children's Hospital Los Angeles (CHLA), NanoValent aims to develop superior therapeutics for patients restricted by current treatment options and working with other pharmaceutical companies to optimize or expand the utility of additional therapeutics.
The company's proprietary platform technology is an important, new, tool that can potentially improve the efficacy and safety of a spectrum of therapeutic molecules and biologics. The wide range of targeting options and flexibility of the platform make the potential applications almost limitless.
NanoValent's leading drug candidate, NV103 (anti-CD99, irinotecan), is approaching Phase I clinical trials with initial validating programs including Ewing Sarcoma, Hepatocellular Carcinoma and Neuroendocrine tumors. Other candidates include NV101 (anti-CD99, doxorubicin) and NV102 (anti-CD19, doxorubicin).
Funding has come from direct management investment, angel investors and significant grants from the National Science Foundation, the National Cancer Institute and the Montana Chamber of Commerce. For more information, please visit http://www.nanovalent.com.
SOURCE NanoValent Pharmaceuticals, Inc.
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