Phoremost was founded to identify new druggable targets for therapeutics and came up first with KRAS which is one of the most commonly mutated genes in cancer, driving disease initiation and progression. One could assume that the KRAS target simply popped out during early phenotypic screening processes.
If it did it would be indeed fortuitous because the co-founders of Horizon Discovery including Dr Chris Torrance had been targeting KRAS since before 2009.
It is therefore unsurprising that Phoremost would have targeted KRAS through the SiteSeeker platform. It has identified drug candidates to a novel synthetic-lethal target for KRAS, and is soliciting collaborative partners for further development. Apart from the obvious benefits to Phylogica deriving from its stake in Phoremost, it would appear that the information which Phoremost will use to develop small molecule drugs could also be used by Phylogica to 'launch peptide-based therapeutics programs.
The Shareholder Update lays down the exciting basis for the agreement with Phoremost. One set of mapping data will potentially drive both small molecule and biologics programs. After all finding a target is the first essential step towards a cure.
PYC Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
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