So,
Neurodiscovery Limited changed its name to Oncosil in late 2013, having taken over Enigma in the UK in Feb 2013.
'NeuroDiscovery Ltd (ASX: NDL ), is pleased to advise that, consistent with its strategy to diversify through acquisition, the Company has today entered into a Sale and Purchase Agreement to acquire 100% of Enigma Therapeutics Ltd, a UK based cancer company.
Engima’s lead product, Oncosil , is a targeted brachytherapy treatment being developed under an exclusive world-wide license from pSiMedica for its proprietary BrachySil product utilizing defined radioactive isotopes. pSiMedica is a subsidiary of USA based pSivida Corp. (ASX Code PVA).'
'NeuroDiscovery will, subject to shareholder approval :
- Issue 75 million shares to purchase 100% of Enigma Therapeutics Ltd.
- Raise an additional AUS$1.5 million via the placement of 60 million shares at $0.025. The placement will be managed by Forrest Capital and is completed subject to shareholder approval.
- Issue 25 million Advisor Options (unlisted) to Forrest Capital (or its nominees) exercisable at $0.05 per option on or before 30 June 2016.
- Issue one million options to each director on the same terms and conditions as Advisor options.'
That's a big chunk of options at 5c - good luck to them. The original investors in the CR at 2.5c have done well.
Looks as if the CE application was intended to be in 2013. And also a phase 3 trial in 2013. Not sure how the last 2 years have slipped by, but it is what it is I guess.
'Engima plans to enter discussions with regulatory authorities in UK with the view to obtaining a potential CE Mark for Oncosil as soon as practicable.
The company also intends to conduct a potential Phase III study and discussions with regulatory authorities and manufacturers will take place as soon as reasonably practicable. It is anticipated this trial may have approval to commence during 2013.
Additional Indications for Enigma Oncosil
In addition to pancreatic cancer, Oncosil is potentially applicable to a wide range of solid tumor indications, including tumors of the liver. pSivida previously conducted a Phase I/II and Phase IIa clinical trial in primary liver cancer which again demonstrated it was well safe and tolerated. The Phase IIa concluded that additional studies may be warranted to evaluate clinical safety and efficacy.
Enigma has the right to reference this data and information under the license agreement with pSiMedica.
Enigma Oncosil Manufacturing Process
Enigma has a GMP-compliant process for the production of Oncosil with a number of manufacturing partners responsible for different aspects of the process. The starting material for the process is polycrystalline silicon which is an inexpensive and abundant raw material. The early stages of the Oncosil manufacturing process are on “cold” (ie non -radioactive) materials and partners are responsible for the atomisation, size definition and nanostructuring of the 30 micron particles and for the ( 32 P), activation, formulation, packaging and distribution of Oncosil to trial sites.
Enigma Intellectual Property
Oncosil is covered by a comprehensive portfolio of both granted patents and patent applications which all fall within the assignment and license agreement from pSiMedica. These provide broad product and technology-related protection for Enigma products and on-going development strategies.'
From this last section it looks as if pSiMedica hold the IP and the rights to usage were granted to Enigma in the UK, then taken over by NeuroDiscovery Ltd (ASX: NDL ), and then the name change to Oncosil.
Hope I have got this right, and many apologies if most posters already knew this history!
Looking back at NeuroDiscovery, it looks as if they had some high hope for some interesting compounds. Anyone know if this IP is still being developed by Oncosil?
NeuroDiscovery Ltd (ASX Code NDL) is an ASX listed neurology research and development company which owns 100% of NeuroSolutions Ltd. NeuroSolutions Limited is a profitable service company, applying its broad expertise and drug discovery platforms to become a leading provider of specialised electrophysiological assays to the biopharmaceutical industry. Electrophysiology is a specialised technique which is used to record electrical activity in membranes, cells or tissues. NeuroSolutions current clients include many other established pharmaceutical and biotechnology companies.
In parallel to running its service business, the Company is also exploiting its in house technologies and expertise for its own internal R&D and has a mature pipeline of programmes underway for the treatment of pain. During 2007 the company commenced Phase I trials on its lead compound NSL-043 in partnership with Sosei Co Ltd, a listed Japanese biopharmaceutical company and also intends to commence a Phase IIa with NSL 101, the company’s 100% owned natural product.
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