LOS ANGELES, July 19, 2018 /PRNewswire/ --
GT Biopharma Inc. (GTBP) and (Euronext Paris: GTBP.PA) announced
today a Material Transfer Agreement (MTA) between a Major
Pharmaceutical Company and Dr. Daniel
Vallera, Director, Section of Molecular Cancer Therapeutics
at the Masonic Cancer Center, University of
Minnesota.
Under the terms of the agreement, this Major Pharmaceutical
Company will supply a formulation of their multibillion dollar,
widely prescribed oncology drug, which has been approved for use in
several hematologic malignancies to Dr. Vallera to be used in this
study.
Dr. Vallera is the lead researcher for GT Biopharma's bispecific
antibody drug conjugate (ADC) program, and the innovator of
oncology drug candidate DT2219, also known as OXS-1550. OXS-1550
targets two antigens on cancer cells and contains a cytotoxic
payload thereby increasing the probability it will kill the cancer
cells. OXS-1550 targets cancer cells expressing the CD19 receptor
and/or CD22 receptors which includes B-cell leukemias and lymphomas
and has a modified form of diphtheria toxin (DT390) as its
cytotoxic drug payload. After OXS-1550 binds to cancer cells,
it is taken in by the cancer cells and subsequently deploy its
cytotoxic diphtheria toxin payload which inhibits protein synthesis
and kills the cancer cells.
Initial pre-clinical work performed by Dr. Vallera suggests a
much greater effect when OXS-1550 is given in combination with this
established oncology drug. Dr. Vallera said: "I am looking forward
to conducting these experiments. Early work suggests that these two
agents would be a great combination in the treatment of certain
cancers. This initial work will assist us in deciding what tumors
to target and the doses to employ."
GT Biopharma's Chairman and Chief Executive Officer (CEO) Dr.
Raymond Urbanski said: "This is a
tremendous step forward for the OXS-1550 program. Pre-clinical data
suggests that the combination of OXS-1550 and this agent is highly
potent against certain tumor cell lines. This MTA will allow
further studies in animal models to both confirm the effects as
well as ascertain which tumor types are the most susceptible to
this potent combination."
About GT Biopharma, Inc.:
GT Biopharma, Inc. is a biotechnology company focused on
innovative drugs for the treatment of cancer. GT's lead oncology
drug candidate, OXS-1550 (DT2219) is a novel bispecific scFv
recombinant fusion protein-drug conjugate composed of the variable
regions of the heavy and light chains of anti-CD19 and anti-CD22
antibodies and a modified form of diphtheria toxin as its cytotoxic
drug payload. OXS-1550 targets cancer cells expressing the CD19
receptor or the CD22 receptor or both receptors. When OXS-1550
binds to cancer cells, the cancer cells internalize the drug and
are killed due to the action of cytotoxic payload. OXS-1550 has
demonstrated success in early human clinical trials in patients
with relapsed/refractory B-cell lymphoma or leukemia. In addition,
GTs TriKE platform will address a number of cancer types. GT's
nervous system platform is focused on acquiring or discovering and
patenting late-stage, de-risked, and close-to-market improved
treatments for nervous system diseases (Neurology and Pain) and
shepherding them through the approval process to the NDA. GT
Biopharma's neurology products currently include PainBrake, as well
as treatments for the symptoms of myasthenia gravis, and motion
sickness.
Except for historical information contained herein, the
statements in this release are forward-looking and made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are inherently
unreliable and actual results may differ materially. Examples of
forward-looking statements in this news release include statements
regarding the payment of dividends, marketing and distribution
plans, development activities and anticipated operating results.
Factors which could cause actual results to differ materially from
these forward-looking statements include such factors as the
Company's ability to accomplish its business initiatives,
significant fluctuations in marketing expenses and ability to
achieve and expand significant levels of revenues, or recognize net
income, from the sale of its products and services, as well as the
introduction of competing products, or management's ability to
attract and maintain qualified personnel necessary for the
development and commercialization of its planned products, and
other information that may be detailed from time to time in the
Company's filings with the United States Securities and Exchange
Commission. The Company undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
Company website: https://www.gtbiopharma.com/
Contact:
Westwicke Partners
John Woolford
+1(443)-213-0506
john.woolford@westwicke.com
SOURCE GT Biopharma Inc.