On July 27, 2019 Xynomic Pharmaceuticals Holdings, Inc. ("Xynomic", stock ticker: XYNO), a clinical stage U.S.-China oncology drug development company, reported that it will present at the 3rd World-China Immunotherapy & Gene Therapy Congress 2019 to be held in Beijing from August 30th to August 31st (Press release, Xynomic Pharmaceuticals, JUL 27, 2019, View Source [SID1234537796]). The presentation will report the interim data of the ongoing Phase 1b trial, being conducted at University of California, San Francisco, evaluating the safety and efficacy of Xynomic’s abexinostat, a pan-histone deacetylase ("HDAC") inhibitor, in combination with Keytruda, a humanized antibody in cancer immunotherapy, for the treatment of multiple solid tumors.
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Abexinostat is a pan HDAC inhibitor that inhibits HDACs 1, 2, 3, 6, and 10. Thus, HDACs have become a therapeutic target for various types of cancers. Keytruda is a checkpoint inhibitor (CPI), which blocks the PD-1 receptor signaling axis in patients with advanced solid tumors. Keytruda, while effective, has significant limitations including low objective response rate (~20%) and drug resistance issues. Epigenetic modifying agents such as HDAC inhibitors have been reported to have the potential to counteract some of the mechanisms of resistance to CPI treatment. In this trial, Xynomic has already completed the dose escalation portion without any dose-limiting toxicity findings. Xynomic plans to enroll a total of approximately 42 patients in the U.S in this Phase 1b trial and expects to complete this trial by the second quarter of the fiscal year 2020.
We believe the need for cancer treatment will continue to grow, driven by the increasing awareness towards cancer prevention, early screening and diagnosis. According to a report published by Allied Market Research, the global market for cancer therapeutics was valued at $81.2 billion in 2016 and is projected to reach $178.9 billion by 2023, at a CAGR of 11.9% from 2016-2023. Specifically, the global market size for diverse types of solid tumors treated by Keytruda is expected to reach $8.0 billion by 2023.
Furthermore, Xynomic expects to present more detailed data at the upcoming American Association for Cancer Research (AACR) (Free AACR Whitepaper) annual meeting, to be held from April 24th, 2020 to April 29th, 2020, in San Diego, California.