Posted: 27 July 2021
Australian biotech company and BioMelbourne member, CTxONE, has announced it has re-branded to ‘Oncology One’ – a move that will support its goal to raise and deploy meaningful capital to progress small molecule cancer drug discovery projects towards the clinic.
Oncology One has proud origins as the original management company and then a commercialisation partner of the Cooperative Research Centre for Cancer Therapeutics, a collaborative partnership of Australia’s leading medical research institutes, universities and biotechnology companies, which was founded in 2007.
Oncology One CEO, Dr Joanne Boag, said: “We are delighted to launch our new name and brand as Oncology One today – an important aspect in defining our identity and accompanying the development of a new strategy, which has been a work in progress for the past six months.”
Oncology One licensed technology related to a new class of cancer drugs to Pfizer Inc in 2018, in a deal worth up to US$475M in development milestones, with additional royalties on sales if the technology is successful. Late last year, PF-07248144 entered Phase 1 clinical trials for the potential treatment of patients with advanced or metastatic breast, prostate or lung cancer.
Looking ahead, Oncology One is implementing a strategy focused on building a diversified small molecule oncology pipeline and aims to help translate more of Australia’s world-class cancer research into treatments. Oncology One has a purpose-built business model to deliver targeted investment to research teams and works with them to progress important research towards the clinic.
Oncology One CEO, Dr Joanne Boag, said: “We are privileged to have established relationships with world class innovators and research institutions. Our goal now is to progress small molecule oncology drug development programs towards the clinic. We are working to curate and develop high quality programs that aim to meet yet unmet clinical needs, inclusive of underserved areas such as paediatric and rare cancers.”
As part of its investment structure, Oncology One endeavours to create value for its shareholders, and the sector at large, by progressing early-stage drug discovery projects to create a pipeline of small molecule oncology drug candidates.
Oncology One CEO, Dr Joanne Boag, said: “We have a number of projects in partnership with research institutions coming online over the next month and we look forward to providing updates on these soon.”
Chair of the Oncology One Board, Mary Harney, said: “Our team and broader cancer research network is committed to working strategically to discover, curate, progress and advocate for Australia’s best cancer research.”
To learn more about investment or partnership opportunities with Oncology One, visit: www.oncologyone.com.au