May 22, 2014
H3 Biomedicine Inc.
, a biopharmaceutical company specializing in the discovery and development of precision oncology treatments, and Selvita (PL: SLV), one of the largest drug discovery companies in
, announced today that they have achieved the first research milestone in their strategic collaboration to develop breakthrough precision medicines for cancers. The companies have validated the importance and druggability of a kinase target in a specific genetic context and have generated multiple novel chemical series against this target. The companies expect the first candidate molecule originating from the collaboration to move to IND-enabling studies in 2015.
, President and Chief Executive Officer of H3 Biomedicine, commented: "Teaming up with Selvita has allowed us to validate multiple targets with hypotheses based on genetic changes in cancer. Through systematic validation of these targets, H3 and Selvita together are solidifying their understanding of their biological mechanisms and, in parallel, are developing novel chemical matter that modulates them. We have made quick progress and will continue to aggressively pursue the programs toward clinical development."
, Selvita Chief Scientific Officer, said, "Selvita's most advanced internal programs focus on kinase inhibitors in oncology and the work on the novel target follows our previous successful discovery efforts on PIM/FLT3 and CDK8. Since the start of our collaboration with H3 in
, our teams have worked very well together, complementing each other's efforts. We hope to see the first small molecules originating from the collaboration in the clinic in 2016."
H3 Biomedicine will provide a milestone to Selvita in consideration of Selvita's achievement of the first research goal in the project. The companies are not disclosing the amount.