On 9 January 2019, PATRYS LIMITED (ASX: PAB) announced its corporate update. The company is a biopharmaceutical company which develops and commercializes novel antibody technologies to improve clinical outcomes for the cancer patients. Its products PAT-DX1 (DNA), PAT-DX1- NP (DNA)and Deoxymab 5C6 (DNA) are licensed from Yale University and PAT-SC1 (IgM - CD55) has received Chinese rights out-licensed. All the products have passed the discovery phase and have entered the pre-clinical phase.
Its Deoxymab 3E10, an Anti-DNA autoantibody, is isolated from the MRL/lpr lupus mouse model. Once it reaches the live cell, it penetrates and prevents the key process of DNA repair. It remains non-toxic to the normal cells but is highly sensitive towards cancer cells and tumors to DNA. It is moderately toxic to HDR which is radiation therapy to destroy various types of cancer and reduce cancer cell by itself. In its previous Phase 1 clinical trial in lupus, the results show that there were no safety issues. Its anti-cancer applications have received the license from Yale University.
Its product PAT-DX1 is a Humanised Deoxymab 3E10 with a novel mechanism of action and IP position. The pre-clinical studies of PAT-DX1 were positive and it was successful in killing colon, gliobastoma, breast cancer cells that lack key DNA repair enzymes. It synergizes when it comes in contact with a PARP inhibitor. It was proved successful in reducing the tumour size.
Its product PAT-DX1 is tested in the Mouse Model of TNBC Brain Metastases. By injecting luciferase, it was found that the brain was seeking TNBC cell directly into circulation through intracardiac injection. Just after one week of the treatment, PAT-DX1 was able to reduce TNBC brain metastases. After four weeks of treatment, treated mice shows a fall in brain metastasis by 93% as compared to untreated mice. PAT-DX1 proved to be successful in the survival of 86% of mice. It was found that PAT-DX1 is non-toxic in nature. It also confirms that It can be linked to nanoparticles (NPs) and can be loaded with chemotherapeutic (or other) drugs. The PAT-DX1-NPs is more suitable for tumor tissues.
PAT-DX1 is progressing to the clinic where PAT-DX1 in combination with radiotherapy and in combination with chemotherapy is being funded by Patrys. PAT-DX1 in conjugation with nanoparticles and PAT-DX1 in conjugation with small molecules has business development opportunities.
Triple Negative Breast Cancer and Glioblastoma are the targeted clinical indications. The company also highlights its recent pre-clinical cancer antibody deals.
The company highlighted that through phase 1 of PAT-DX1, the company was able to strengthen the balance sheet by $7.6 million in 2018. It was able to raise $4.6 million from the existing shareholders, funds and HNWs. FY2018, reports an increase in the grant revenue and is also receiving Federal R&D Incentives.
By the end of trading on 9 January 2019, the closing price of the share was A$0.028 with the market capitalization of A$33.19 million. Today, the shares soared by 3.571%, trading at A$0.029 as at 1:42 PM AEST.
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