On May 19, 2022 BioMoti Ltd reported an agreement with a global pharmaceutical company to collaborate on the development of its lead ovarian cancer candidate, BMT101, to clinical phase 2a proof-of-concept (Press release, BioMoti, MAY 19, 2022, View Source [SID1234614847]). 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 licence BMT101 in specific territories.
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BMT101, BioMoti’s lead candidate for the unmet need in ovarian cancer, is a new type of tumour-targeted treatment consisting of CD95-coated long-acting paclitaxel-loaded microparticles. BMT101 has shown very encouraging preclinical proof-of-concept results compared to the clinical standard-of-care, paclitaxel, including over 10-fold increases in drug concentration in tumours, 65-fold reductions in tumour burden, a 4-fold increase in survival and a reduction in toxicity.
BioMoti also announces that Dr John Beadle has joined its Board of Directors as Chairman, replacing Dr Keith Powell who has stepped down. Dr John Beadle, MBBCh, MBA, brings a wealth of experience and knowledge in the development of clinical stage biotech companies. He was previously founding Chief Executive Officer 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 in excess of $150M and realised transaction values in excess of $300M 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 similar products to BMT101. The company’s expertise includes developing clinical candidates to market launch, offering a unique opportunity for us to address the significant medical need in the treatment of ovarian cancer patients."
He added: "We are very grateful for the contributions of our departing Chairman, 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 of 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 with the next stages of clinical development."
Dr John Beadle, Chairman of BioMoti, said: "I am delighted to join BioMoti at this exciting time as we transition the technology from pre-clinical research into a clinical development programme, thus bringing the BioMoti technology one step closer to becoming a treatment for patients with ovarian cancer."