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Prescient Therapeutics Limited (ASX: PTX) is an Australian clinical stage oncology company that is into the development of personalised medicines for the treatment of multiple cancers.
The company aims to develop novel drugs that work on the mechanism of inhibiting tumour survival pathways through turning the âmaster switchesâ off and cause the cancer cells to die.
Prescientâs Board and Management team has shown a proven success in taking drugs from âbench to bedsideâ â from discovery, through clinical progress and FDA approvals to develop commercial products for cancer patients. The leaders sitting in the companyâs Board include:
Steven Engle (Non-Executive Chairman)
Steven Engle is a veteran business executive, who has been a former Chief Executive Officer (CEO) of NASDAQ-listed biotech companies Xoma and La Jolla Pharmaceuticals, a company which discovered the biology of B cell tolerance.
Mr Steven Engle joined Prescient Therapeutics in November 2014 when he was appointed as the Non-Executive Chairman of the Board. Currently, Mr Engle is also the CEO of Averigon Consulting and CohBar Inc., both, located in the United States.
In the leadership roles, Mr Engle has overseen multiple drug filing with the USâ Food and Drug Administration (FDA) for biotech majors. When he served as a Vice President of Marketing for Cygnus, a drug delivery company working in hormone replacement, consumer and other subject areas, he helped secure FDA approval of and launch Nicotrol for smoking cessation.
Presently, Mr Engle is a CEO of NASDAQ listed Cohbar, Inc. He is also serving as a Board Member of Author-it Software Corporation, a developer of authoring information solutions for pharmaceutical and biotechnology companies, and AROA Biosurgery, a developer of regenerative medicine products based in New Zealand.
He has maintained a track record of securing partnerships with big pharma, which strengthens his deep experience in US capital markets. During Mr. Engleâs tenure, XOMA achieved significant growth in its biodefense business and generated strong revenues from its antibody technology business, which formed the worldâs largest antibody libraries and included major pharmaceutical partnerships with Novartis, Pfizer and Takeda, among others.
On the academic front, Mr Steven Engle is a Master of Science (M.S.) in electrical engineering, with a particular focus in biomedical engineering from the University of Texas at Austin.
Steven Yatomi-Clarke (Chief Executive Officer and Managing Director)
Steven Yatomi-Clarke became CEO and Managing Director of Prescient Therapeutics in February 2016 after playing a role of Non-Executive Director in the company for a period of around 15 months.
At Prescient, Steven manages a team in Australia and the US and has been instrumental in strategy development; initiating and managing clinical trials; fundraising and business development.
Previously, Steven had a distinguished career as an investment banker specialising in the life sciences sector, where he was consistently one of the countryâs most prolific bankers, involved in primary and secondary offerings, corporate advisory and M&A assignments. In particular, Steven leveraged his combined backgrounds in science and finance to identify undervalued and unlikely opportunities and structure deals for the mutual benefit of companies and investors.
Steven holds a Bachelor of Science with an Honours Degree in Biochemistry and Molecular Biology, and a Bachelor Commerce majoring in Economics, both from the University of Melbourne.
Paul Hopper (Non-Executive Director)
Paul Hopper is a biotechnology executive, with over 20 years of experience in international and ASX biotech capital markets, primarily in immune-oncology and vaccines.
Paul Hopper is a Founder and Executive Director of Prescient Therapeutics. Mr Hopper is also a Founder of Imugene & Polynoma LLC and has previously served as a Chairman of Viralytics, which was acquired by Merck for $500 million in June 2018; and is a former Director of pSivida, Somnomed & Fibrocell Science.
Dr James Campbell (Non-Executive Director)
Dr James Campbell is a qualified scientist and commercial executive, who holds experience guiding on capital raisings and partnering negotiations to biotech companies based in the United States and New Zealand.
Dr Campbell is a CEO of ASX-listed Patrys Limited. He was previously the Chief Operating Officer (COO) and Chief Financial Officer (CFO) of Chemgenex, which was acquired by Cephalon at the value of $230 million in 2011. He has played a key role in transforming Chemgenex from a $10 million research-based entity to a company with FDA approvals and completed clinical trials, which helped it to realise $230 million on sale. Also, Dr Campbell is a Non-Executive Director of Invion Limited (ASX: IVX).
Further, the Board of the clinical oncology company, Prescient, is backed by the management team, comprising of leading scientists and biotech professors.
The PTX Management Team
Clinical Progress
Currently, the clinical programs of the company are focused on investigating the potential of two lead drug candidates that include PTX-100 and PTX-200.
PTX-100 is being trialled for the treatment of solid tumours, particularly focused on gastrointestinal cancers. This drug is designed to inhibit the growth molecule Ras pathway downstream, responsible for activation of Rac, Rho, and Ral circuits in cancer cells.
Recently, the company started the Phase 1b clinical trial of PTX-100 that involves the very famous âbasket approachâ. In this study, the company closely concentrates on grouping the patients on the basis of mutational profile of their tumours and not on their tumour location. The trials are conducted under the leadership of internationally renowned oncologist, Professor H. Miles Prince at the Melbourne Hospital.
PTX-200 is being trialled on ovarian cancer, breast cancer and Acute Myeloid Leukemia (AML) to establish it as a new therapy in the cancer world. Prescient has designed PTX-200 to block the survival pathway called AKT, which is responsible for developing many solid and hematologic cancers.
PTX stock price has surged up by 2.273% to trade at $0.045 on 12 August 2019 (1:20 PM AEST). Over the past one month, the stock has returned 10.00%. The market capitalisation of the company stands at $17.35 million, with 394.26 million shares outstanding.
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Also Read: Journey of Prescient Therapeutics in 2019
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