Hoersholm; September 9th, 2016 - Medical Prognosis Institute A/S (MPI.ST) (Denmark and Phoenix, AZ, USA) today announced that its spinout Oncology Venture (OV) has incorporated its fully owned company 2X Oncology Inc. in the US. The company is a Women's Cancer precision medicine company focused on advancing the development of promising, novel clinical-stage cancer drugs - in combination with MPI's DRP technology. The initial therapeutic focus of 2X Oncology will be unmet medical needs in Breast Cancer and Ovarian Cancer. The Company will work in close collaboration with Oncology Venture, utilizing the MPI/OV Nordic network. 2X Oncology is finalizing term sheets to in-license a suite of promising oncology drugs for the treatment of unmet needs in women's cancers and is in the process of hiring management.
"Incorporation of 2X Oncology Inc. in the US is an important step for Oncology Venture and MPI. 2X Oncology will use the DRP technology to develop Precision Therapeutics for the personalized treatment of women's cancers.", says Adjunct Professor Peter Buhl Jensen, M.D., CEO of MPI.
About MPI's multiple biomarker called Drug Response Predictor - DRP(TM)
MPI's DRP(TM) is a tool for developing tumor-derived genetic signatures to predict which cancer patients are high likely to respond to a given anti-cancer product. The DRP(TM) has been tested in 37 trials, where 29 trials showed that drug-specific DRP(TM) Biomarkers could predict which patients responded well to the treatment. The DRP(TM) platform has amongst others been externally validated and published in collaboration with leading statisticians at the MD Anderson Cancer Center. The DRP(TM) method can be used to design the Clinical Development Plan, i.e. to select which indications are relevant for a given anti-cancer drug. In addition to this, the individual genetic patterns of patients can be analyzed as part of a screening procedure for a clinical trial to ensure inclusion of patients with a high likelihood of response to the drug. DRP(TM) builds on comparison between sensitive and resistant human cancer cell lines, including genomic information from cell lines combined with clinical tumor biology and clinical correlates in a systems biology network. The DRP(TM) is a Big Data tool based on messenger RNA.
The DRP(TM) platform can be used in all cancer types, and has been patented for more than 60 anti-cancer drugs in the US.
Medical Prognosis is a publicly traded international company specialized in improving cancer patients lives by developing Personalized Medicine using its unique DRP(TM) technology. MPI's exceptional opportunity to personalize cancer treatment - begins with Breast Cancer moving on to Multiple Myeloma and Prostate Cancer as the first steps. MPI's DRP(TM) tool has shown its ability to separate patients who benefit and who do not benefit from a specific cancer treatment. This has been shown in as many as 29 out of 37 trials, and covers more than 80 anti-cancer treatments in a wide range of cancer indications. MPI has built a significant large database with over 1,100 screened breast cancer patients and is building up a database in Multiple Myeloma to be followed by Prostate cancer in collaboration with oncologists and hematologists throughout Denmark.
For further information, please contact:
CEO, Peter Buhl Jensen, Adjunct Professor, MD, PhD Ulla Hald Buhl, IR & Communication
E-mail: firstname.lastname@example.org E-mail: email@example.com
Telephone: +45 21 60 89 22 Telephone +45 21 70 10 49
This information is information that Medical Prognosis Institute A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on September 9, 2016.
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