KUALA LUMPUR, April 26 (Bernama) -- Albatroz Therapeutics announced it has secured US$3 million in funding led by Outram Bio and SEEDS Capital to accelerate the development of therapeutic antibodies against a novel target that degrades the extracellular matrix, a key contributor to cancer and arthritis. (US$1=RM4.46)
The biotechnology company targeting tissue remodeling to stop cancer growth and treat arthritis, has secured exclusive rights on a highly specific and novel target that blocks tumour growth and recurrence, including a range of therapeutic antibodies that inhibit this target.
Albatroz Chief Executive Officer and Scientific Co-Founder, Dr Fred Bard said: “Degradation of the extracellular matrix is a critical component of both tumour growth and arthritis, however candidate drugs against this process have been limited in their use due to toxicity profiles.
“We are thrilled with the industry support that is allowing us to accelerate development of Albatroz’s novel therapeutic antibodies in order to move toward the clinic. We look forward to collaborating with pharmaceutical and biotech innovators in order to maximise the impact of this science.”
While at the Institute of Molecular and Cell Biology (IMCB), Agency for Science, Technology and Research (A*STAR) in Singapore, Dr Bard published prominently on a pathway that controls protein glycosylation and drives extracellular matrix degradation.
The study of the GalNAc-T Activation (GALA) glycosylation pathway led to the discovery of a new target, which becomes exposed at the cell surface after glycosylation.
Activation of the target occurs specifically in tumours and arthritic synovial membranes, connective tissue that lines the joint capsule. Albatroz’s targeted antibodies have high specificity for this target selectively reducing extracellular matrix degradation while minimising toxicity.
In a statement, Albatroz Therapeutics said the company also received the first Golden Ticket prize from Amgen in Singapore, recognising the viability of its science and business plan.
A scientific committee at Amgen evaluated the strength and novelty of the scientific rationale, subject matter expertise of the leadership and business plan viability of the company and awarded Albatroz access to a fully-equipped, turnkey and certified BSL-2 laboratory from NSG Biolabs.
-- BERNAMA
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