Chromos Completes Acquisition Of Targeted Molecules Corporation And Closes Cdn. $6 Million Financing
Acquisition Adds Product Candidates For Treatment of Multiple Sclerosis And Acute Thrombosis
Chromos Molecular Systems Inc. announced that it has acquired Targeted Molecules Corporation (TMC), a privately held biotechnology company based in San Diego, CA. With the acquisition, Chromos gains two antibody product candidates for treatment of multiple sclerosis (MS) and acute thrombosis. Concurrent with the acquisition, Chromos completed a Cdn. $6 million financing, the funds from which will be used to finance operations.
Chromos plans to advance development of two humanized monoclonal antibodies, CHR-1103 and CHR-1201. Initially, Chromos proposes to focus its development efforts on the use of CHR-1103 for the treatment of acute relapse in MS, also known as MS flares. Having achieved proof-of-concept in preclinical studies, CHR-1103 is currently undergoing preclinical safety and toxicology studies. The Company expects to file an IND for CHR-1103 and to start a Phase I clinical trial for the treatment of MS flares in patients with relapsing-remitting MS in early 2007. CHR-1103 has also been shown in preclinical proof-of-concept studies to be promising as a treatment for inflammatory bowel disease and rheumatoid arthritis.
CHR-1201 is an anti-thrombotic monoclonal antibody that has been shown in preclinical studies to dissolve blood clots without risk of bleeding. Most existing drugs are not used in patients with acute thrombosis involving the brain due to a high risk of bleeding. Chromos believes CHR-1201 has the potential to treat a significant unmet medical need. The primary focus is neuro-thrombosis, ischemic stroke and traumatic brain injury. CHR-1201 has achieved proof-of-concept in preclinical studies. The Company plans to file an IND for CHR-1201 in the second half of 2007.
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Topic world Antibodies
Antibodies are specialized molecules of our immune system that can specifically recognize and neutralize pathogens or foreign substances. Antibody research in biotech and pharma has recognized this natural defense potential and is working intensively to make it therapeutically useful. From monoclonal antibodies used against cancer or autoimmune diseases to antibody-drug conjugates that specifically transport drugs to disease cells - the possibilities are enormous
Topic world Antibodies
Antibodies are specialized molecules of our immune system that can specifically recognize and neutralize pathogens or foreign substances. Antibody research in biotech and pharma has recognized this natural defense potential and is working intensively to make it therapeutically useful. From monoclonal antibodies used against cancer or autoimmune diseases to antibody-drug conjugates that specifically transport drugs to disease cells - the possibilities are enormous