Cyclacel

Cyclacel Pharmaceuticals Inc. (NASDAQ: CYCC, is a biotechnology firm based in Dundee, Scotland and Short Hills, New Jersey developing cancer drugs and treatments. Cyclacel was founded in 1996 by Professor David Lane, Merlin Ventures and Cancer Research Campaign Technology with the University of Dundee and the University of Glasgow.

Major shareholders include Magnetar Financial, Deerfield Management, Baker Brothers Advisors and the Federated Kaufmann Fund.

The firm is dedicated to developing "mechanism-targeted drugs" to help in the fight of cancer, and other serious illness, such as diabetes and HIV.

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Beginnings

Cyclacel is a spin-off company, founded by Professor Sir David Lane of University of Dundee to capitalise on his discovery of the P53 gene, also known as the "tumour-suppressor" gene. In 1997, Cyclacel started work in a small Dundee lab. After an investment of £4million from Brian Souter and Anne Gloag the company acquired larger, custom-built premises in 2000. The £2.7million facility was officially opened by British Prime Minister Tony Blair on 22 February 2002.

Expansion

After becoming the first European spin-out company to raise over $100 million in private equity^[1], the company had to pull out of a stock market listing in July 2004^[2]. Cyclacel completed a reverse merger with Xcyte Therapies in December 2005 to acquire Nasdaq listing^[3]. This allowed Cyclacel to take advantage of its adopted Nasdaq listing by raising an additional $45 million in April 2006 through a private placement of stock and warrants.

Cancer Treatment

The company is developing new and innovative therapeutic treatments for cancer and other serious diseases. By gaining insights into cell cycle control biology and rational drug design chemistry, it is hoped new effective drugs can be discovered.

Seliciclib

Seliciclib is Cyclacel's main drug project, and this drug is currently in Phase IIb clinical trials as a third line treatment in patients with non-small cell lung cancer (NSCLC). Seliciclib is a cyclin-dependent kinase (CDK) inhibitor that is believed to cause cancer cell death. One of the few oral treatments for cancer, the drug is convenient, cost effective and potentially effective.

Sapacitabine

This is an orally available nucleoside analogue, which is currently undergoing Phase I trials in patients with advanced leukemias and lymphomas.

Staff

• Spiro Rombotis, President and Chief Executive Officer.
• Paul McBarron, Executive Vice President, Finance and Chief Operating Officer.
• Dr.Reyes, Senior Vice President, Research
• Judy Chiao, Vice President, Clinical Development and Regulatory Affairs.
• Gill Christie, Director, Human Resources.
• Susan Davis, Associate Director, Business Development.
• Professor David Glover, FRSE, Chief Scientist, Polgen.
• Robert Westwood, Vice President, Chemistry and Preclinical Development.

Notes