Just a bit of info from Life Sciences Read part I of BIO 2011 biotech profile: Patrys
With the filtering and manufacturing processes sorted, the next step for Patrys was to produce some nice solid clinical data and prove that the technology can match the hype.
Patrys has a dozen unique lead products, some it is investigating itself and others have been licensed out to partners including AstraZeneca, Takeda and CSL. It also sports 250 other candidate antibodies loitering in the wings, any of which could potentially yield fruit.
The company has brought a few of its leads into the clinic, one being PAT-SC1, which showed significant improvements on survival in gastric cancer patients in a trial in the late 1990’s. Another lead is PAT-SM6, with Patrys recently posting results from the first group of patients in a melanoma trial suggesting PAT-SM6 is safe at low doses.
The next step is an extension trial with higher doses, with the expectation (and hope) being that the antibody will prove entirely safe. After that the company intends to take PAT-SM6 to a multidose study targeting a range of solid tumours. “We’re working through the logistics and possibilities of doing that study now,” says CEO, Marie Roskrow.
They’re also planning to take two other lead candidates, PAT-LM1 and PAT-SC1, out of the lab and into large scale manufacturing in order to produce enough antibody for clinical trials. However, all these trials cost money.
“Both PAT-LM1 and PAT-SC1 would be in position to go to clinical study early next year,” says Roskrow.“ Whether we will have the resources to move both of those into trials, we’re not sure yet.But we anticipate moving at least one into the clinic ourselves and perhaps looking to license or do something else with the other antibodies.
“Like all companies, Patrys is restrained by what we can afford to do. Once we get into the clinic and once we produce large amounts of the antibodies, the costs rise exponentially compared to lab.”
As such, Patrys has a “very open mind and a very open model” when it comes to its business model, says Roskrow. One key part of its model is partnering to help bring some of its antibodies into the clinic.
. It cut a deal with CSL in January of 2010, giving the biotech giant access to four of Patrys’ early stage antibodies. While the details of the deal remain confidential, it was “typical,” says Roskrow. “
CSL is a great partner. They understand us. They sell polyclonal antibodies, so they understand where we’re coming from. And the fact they’re around the corner in Victoria makes it a very interactive collaboration.”
Patrys also aggressively monitors its intellectual property, not only protecting the antibodies it develops, but also the unique targets. This gives the company greater opportunities for licensing should other companies want to explore those targets for their own purposes.
Given her background at Lazard, Roskrow knows the importance of IP protection. “One of the first things people look at when they look at our programmes is the IP,” she says.“Patrys spends a lot of money and a lot of time developing IP compared with other similar sized companies, because we understand the importance and future value of that.”
Patrys also intends to raise more capital in the coming year to help fund further development and trials of its lead candidates. “Some time this year we will be looking to raise money,” says Roskrow.“
People are beginning to take notice of the company. Once you move into the clinic and put out early data that certainly attracts people’s eye. The more we can raise, the more we can do. So we’ll definitely out there some time this year.”
From being at the vanguard of a novel technology with as much uncertainty as promise, Patrys is now beginning to demonstrate that it can deliver on its promise. There’s still a long road ahead to drive its antibodies through the tumultuous terrain of gaining regulatory approval, but the initial signs bode well.
PAB Price at posting:
3.3¢ Sentiment: ST Buy Disclosure: Held
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