It would appear that Phoremost is walking in the footsteps of Horizon Discovery - both are phenotypic screening companies; its the point of difference which is exciting.
"Horizon has developed powerful screening tools based on a technique called RNAi (i=inhibition) that disables specific genes," excerpt from Shareholder Update.
The phenotypic screening process used by Phoremost utilises PROTEINi (i=interference). This process which operates at the protein level differs fundamentally from other genome based screening technologies such as RNAi.
I do not understand the science but I do understand that Phoremost is pioneering a new approach compared to other genome-based screening companies such as Horizon Discovery. If Phoremost is successful with protein interference then the phylomer libraries become intrinsically more valuable.
I guess that's why Phylogica have retained the right to enter non-exclusive agreements with other parties in relation to phenotypic screening. The big question is whether 'other parties' is used in a hypothetical sense or whether there are companies who have expressed a direct interest. The future of the drug candidates developed by Phoremost to a novel synthetic-lethal target for KRAS, could highlight the answer.
PYC Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
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