On May 15, 2019 Mateon Therapeutics, Inc. (OTCQB:MATN), a biopharmaceutical company developing investigational drugs for the treatment of orphan oncology indications, reported financial results for the first quarter of 2019 (Press release, Mateon Therapeutics, MAY 15, 2019, View Source [SID1234536347]).
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For the three months ended March 31, 2019, Mateon reported a net loss of $0.6 million, compared to a net loss of $0.8 million for the three months ended March 31, 2018. As of March 31, 2019, Mateon had cash of $0.2 million. On April 22, 2019, Mateon merged with Oncotelic, Inc., a clinical-stage cancer immunotherapy company focused on TGF-β RNA therapeutics. Because the first quarter of 2019 ended prior to the date of the merger, the financial results reported today do not include any financial results for Oncotelic.
"I am excited about the growth potential for our newly combined company – we have a promising pipeline of next-generation immunotherapies targeting several significant cancer markets where there are significant unmet medical needs," said Vuong Trieu, Ph.D., Chairman and Chief Executive Officer of Mateon and co-founder of Oncotelic. "Earlier this month, we presented two posters on our proprietary self-immunization protocol at the American Association for Cancer Research (AACR) (Free AACR Whitepaper) Annual Meeting. These posters showed OT-101’s ability to reactivate immune cells directly around the cancer tissue. Our goal is to advance this candidate in the clinic and have an approvable anti-cancer drug within a few years."
About OT-101
The company’s lead product candidate, OT-101, is being developed as a broad-spectrum anti-cancer drug that can also be used in combination with other standard cancer therapies to establish an effective multi-modality treatment strategy for difficult-to-treat cancers, including high-grade gliomas and pancreatic cancer. The company plans to initiate phase 3 clinical trials for OT-101 in both high-grade glioma and pancreatic cancer. During phase 2 clinical trials in pancreatic cancer, melanoma, and colorectal cancers (Study P001) and high-grade gliomas (Study G004), meaningful clinical benefits were observed and OT-101 exhibited a favorable safety profile. These clinical benefits included long term survival and meaningful tumor reduction. Both partial and complete responses have been observed in the G004 Phase 2 clinical trial of OT-101 as a single agent in patients with aggressive brain tumors and in patients with treatment failure pancreatic cancers.
About the company’s Self-Immunization Protocol (SIP©)
The company’s self-immunization protocol (SIP©) is based on novel and proprietary sequential treatment of cancers with OT-101 (an antisense against TGF-β2) and chemotherapies. This sequential treatment strategy is aimed at achieving effective self-immunization against a patients’ own cancer, resulting in robust therapeutic immune response and consequently better control of the cancer and improved survival. Prolonged states of being cancer-free have been observed in some patients with the most aggressive forms of cancer, raising a renewed hope for a potential cure. The use of OT-101 lifts the suppression of the patient’s immune cells around the cancer tissue, providing the foundation for an effective initial priming, which is critical for a successful immune response. The subsequent chemotherapy results in the release of neoantigens that result in a robust boost of the immune response. The company believes that a rational combination of the Oncotelic SIP platform with immune-modulatory drugs like interleukin 2 (IL-2) and/or immune checkpoint inhibitors has the potential to help achieve sustained and robust immune responses in patients with the most difficult-to-treat forms of cancer.
The mechanism of action of SIP© presentations at the AACR (Free AACR Whitepaper) Annual Meeting are now available for viewing at www.oncotelic.com:
Abstract Number: 3968 / 24: OT-101/Chemotherapy – A novel mechanism of action (MOA) in pancreatic cancer immunization therapy.
Abstract Number: 5029 / 23: OT-101/Chemotherapy – A novel mechanism of action (MOA) in gliomas immunization therapy.