EUROPEAN INNOVATION COUNCIL AND SMES EXECUTIVE AGENCY - Peptomyc initiates clinical trial of its cancer drug in children

CE Noticias Financieras | 02/10/2024 | Portugal - Peptomyc announced the start of a trial with children of its cancer therapy based on the Omomyc molecule. During a luncheon organized by Aijec, the founders of the spin-off from the Vall d'Hebron Hospital Institute of Oncology (VHIO), Marie-Eve Beaulieu and Laura Soucek, explained that they are continuing to approach the pharmaceutical sector to accelerate clinical trials and find an industrial partner.

date: 02/10/2024

In addition to the new trial in osteosarcoma patients in children, Peptomyc is continuing with Phase 1b of another trial in patients with metastatic pancreatic cancer, one of the most aggressive types of cancer.
This second study was initiated after obtaining a five million euro grant from the European Innovation Council (EIC) program of the European Union. The biotech already presented positive data from a Phase I clinical trial in October 2022.

Seeking partnerships

To date, Peptomyc has raised (EURO)42 million, (EURO)31 million in private investment and (EURO)10 million in public funds through various loans and grants.

"What frustrates us most is not being able to reach more patients. We need support from pharmaceutical companies to continue our research," lamented Soucek. The company is seeking alliances with both large groups specializing in oncology and small pharmaceutical companies to develop niche and innovative solutions.

"We hope to have licensed in 10 years our first product," Soucek advanced. He also added that Peptomyc's roadmap envisages extending its drugs beyond oncology to areas such as autoimmune and immune diseases.

The president of Aijec, Rubén Sans, praised the initiative of both entrepreneurs for "uniting science and business in the service of society". The event was attended by a large representation of the association of young entrepreneurs and was sponsored by EY. In 2017, the association awarded Peptomyc with the Best Entrepreneurship Award.