(PRWEB) October 09, 2013
BioMotiv, a drug development accelerator based in Cleveland, and the Icahn School of Medicine at Mount Sinai, based in New York, are announcing the formation of Dual Therapeutics, a company focused on producing therapeutics for prostate cancer, lung cancer, and acute lymphoblastic leukemia.
Dual Therapeutics is based on intellectual property exclusively licensed from the Icahn School of Medicine at Mount Sinai. The name is based on the investigators’ approach: small molecule modulation of a key tumor suppressor enzyme resulting in simultaneous blockade of two important and common cancer signaling pathways. They have demonstrated significant in vivo antitumor activity in multiple cancer models.
The project was initiated at Mount Sinai by lead inventors Michael Ohlmeyer, PhD, Associate Professor of Structural and Chemical Biology, and Goutham Narla, MD, PhD, Adjunct Assistant Professor of Medicine, Hematology, and Medical Oncology at the Icahn School of Medicine and a Harrington Distinguished Scholar and Assistant Professor of Medicine at University Hospitals-Case Western Reserve University School of Medicine. A team of co-founders, including Drs. Narla and Ohlmeyer, Matthew D. Galsky, MD, Neil Dhawan, MS, David Kastrinsky, PhD, and Yiannis Ioannou, PhD, worked closely with BioMotiv to form Dual Therapeutics.
“Working with BioMotiv provides the opportunity to rapidly progress our discovery into the clinic,” said Dr. Ohlmeyer. “They bring significant pharmaceutical industry experience as well as funding to this company.” “BioMotiv has been a true partner for us,” added Dr. Narla.
A Mount Sinai team comprising Dr. Ohlmeyer, Dr. Narla, and Dr. Matthew D. Galsky received a 2012 BioAccelerate NYC Prize in a competition run by the Partnership for New York City (PFNYC), which has worked with the New York City Economic Development Corporation to build a bioscience industry in the city. The prize enabled the inventors to fund early drug development stages of their research and to position the technology for licensing and company formation.
“The importance of innovation to improve patient care is paramount here at Mount Sinai,” stated Jeanne Farrell, PhD, Business Development Director for Mount Sinai Innovation Partners (MSIP). “Dual Therapeutics is based around discoveries made at Mount Sinai by an interdisciplinary team of investigators with expertise in medicinal chemistry, cancer biology, and clinical research. Partnering with BioMotiv to form Dual Therapeutics will allow a promising finding from academic research initiated at Mount Sinai to advance towards the clinic to the ultimate benefit of patients everywhere.”
“We are excited to initiate this company based on well-developed technology originating from a premier academic research institution,” said Baiju R. Shah, Chief Executive Officer of BioMotiv. “We are hopeful that the promise it has shown to date will continue as the technology is advanced towards treating patients.”
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BioMotiv is the mission-driven accelerator associated with The Harrington Project for Discovery & Development, a $250 million national initiative for advancing medicine centered at University Hospitals of Cleveland. The focus is to accelerate breakthrough discoveries from research institutions into therapeutics for patients through an innovative model that efficiently aligns capital and collaborations. The company leverages an experienced team and advisory board to select, fund, and actively manage and advance a portfolio of programs. Products are advanced to clinical proof-of-concept and then partnered. BioMotiv is interested in early-stage therapeutics in all disease areas. Learn more at http://www.biomotiv.com.
About the Mount Sinai Health System
The Mount Sinai Health System is an integrated health system committed to providing distinguished care, conducting transformative research, and advancing biomedical education. Structured around seven member hospital campuses and a single medical school, the Health System has an extensive ambulatory network and a range of inpatient and outpatient services—from community-based facilities to tertiary and quaternary care.
The System includes approximately 6,600 primary and specialty care physicians, 12-minority-owned free-standing ambulatory surgery centers, over 45 ambulatory practices throughout the five boroughs of New York City, Westchester, and Long Island, as well as 31 affiliated community health centers. Physicians are affiliated with the Icahn School of Medicine at Mount Sinai, which is ranked among the top 20 medical schools both in National Institutes of Health funding and by U.S. News & World Report.
For more information, visit Mount Sinai on the web, Facebook, Twitter, or YouTube.
About Mount Sinai Innovation Partners
Mount Sinai Innovation Partners (MSIP), as part of the Icahn School of Medicine at Mount Sinai, facilitates the transfer of discovery from the laboratory to the marketplace, acting as the interface with commercial entities.
Mount Sinai IP is responsible for the full spectrum of commercialization activities required to bring the Icahn School of Medicine’s inventions to life. These activities include evaluating, patenting, marketing, and licensing new technologies, while also negotiating agreements for sponsored research, material transfer, and confidentiality. Blue Mountain Technologies is an IP program to enhance distribution of, and product development based on, Mount Sinai’s growing portfolio of novel reagents, diagnostics, and therapeutics. For more information on Mount Sinai IP, visit: http://www.ip.mountsinai.org.