BioMoti partners with pharmaceutical company to develop BMT101 treatment
The collaboration agreement provides access to the partner company’s expertise, including its proprietary commercial manufacturing technology and an option for the global pharmaceutical company to license BMT101 in specific territories.
BMT101, BioMoti’s lead candidate for unmet need in ovarian cancer, is a novel type of tumor-targeting therapy comprised of long-acting paclitaxel-loaded microparticles coated with CD95. BMT101 has shown very encouraging preclinical proof-of-concept results compared to the clinical standard of care, paclitaxel, including more than 10-fold increases in tumor drug concentration, 65-fold reductions in tumor burden tumor, a 4-fold increase in survival and a reduction in toxicity.
Dr. John Beadle joins the Board of Directors as Chairman
BioMoti also announces that Dr. John Beadle has joined its Board of Directors as Chairman, replacing Dr. Keith Powell who resigned.
Beadle, MBBCh, MBA, brings extensive experience and knowledge in developing clinical-stage biotech companies. He previously served as founding CEO of PsiOxus Therapeutics, founder and chief medical officer of PowderMed, entrepreneur-in-residence at Imperial Innovations, and vice president of global medical operations at GlaxoSmithKline. To date, he has raised over $150 million and completed transactions of over $300 million within the biotech industry.
Dr. Davidson Ateh, CEO of BioMoti, said, “We are extremely pleased to have secured a strong development partner with commercial manufacturing experience on products similar to BMT101. The company’s expertise includes the development of clinical candidates through to market launch, which provides us with a unique opportunity to address the significant medical need in the treatment of patients with ovarian cancer.
He added: “We are very grateful for the contributions of our outgoing President, Dr Keith Powell, who has stepped down to focus on other duties. He remains a good friend and trusted advisor. We are delighted to welcome Dr. John Beadle at this crucial stage in our development. John is a remarkable leader within our industry with an impressive track record and whose impact is already being felt as we move forward into the next stages of clinical development.
Beadle commented, “I am thrilled to join BioMoti at this exciting time as we move the technology from preclinical research into a clinical development program, bringing BioMoti technology one step closer to becoming a treatment for cancer patients in the ovary.