BioMoti Ltd today announces an agreement with a global pharmaceutical company to collaborate on the development of its lead ovarian cancer candidate, BMT101, to clinical phase 2a proof-of-concept. The collaboration agreement provides access to the partner company’s expertise including its proprietary commercial manufacturing technology and an option for the global pharmaceutical company to licence BMT101 in specific territories.
BMT101, BioMoti’s lead candidate for the unmet need in ovarian cancer, is a new type of tumour-targeted treatment consisting of CD95-coated long-acting paclitaxel-loaded microparticles. BMT101 has shown very encouraging preclinical proof-of-concept results compared to the clinical standard-of-care, paclitaxel, including over 10-fold increases in drug concentration in tumours, 65-fold reductions in tumour burden, a 4-fold increase in survival and a reduction in toxicity.
BioMoti also announces that Dr John Beadle has joined its Board of Directors as Chairman, replacing Dr Keith Powell who has stepped down. Dr John Beadle, MBBCh, MBA, brings a wealth of experience and knowledge in the development of clinical stage biotech companies. He was previously founding Chief Executive Officer of PsiOxus Therapeutics, founder and Chief Medical Officer of PowderMed, Entrepreneur-in-Residence at Imperial innovations and Vice President of Global Medical Operations at GlaxoSmithKline. To date, he has raised in excess of $150M and realised transaction values in excess of $300M within the biotech industry.
Dr Davidson Ateh, CEO of BioMoti, said: “We are extremely pleased to have secured a strong development partner with commercial manufacturing experience on similar products to BMT101. The company’s expertise includes developing clinical candidates to market launch, offering a unique opportunity for us to address the significant medical need in the treatment of ovarian cancer patients.”
He added: “We are very grateful for the contributions of our departing Chairman, Dr Keith Powell, who has stepped down to focus on other duties. He remains a good friend and trusted advisor. We are delighted to welcome Dr John Beadle at this crucial stage of our development. John is a remarkable leader within our industry with an impressive track record and whose impact is already being felt as we move forward with the next stages of clinical development.”
Dr John Beadle, Chairman of BioMoti, said: “I am delighted to join BioMoti at this exciting time as we transition the technology from pre-clinical research into a clinical development programme, thus bringing the BioMoti technology one step closer to becoming a treatment for patients with ovarian cancer.”
For further information, please contact:
Dr Davidson Ateh
Jasmin Shearan / Darya Shulakova / Deborah Cockerill
Sciad Communications Ltd
T: +44 (0)20 3405 7892
Notes to editors:
BioMoti is developing Oncojans™, a promising new class of CD95-coated drug-loaded particles, designed to precisely target and gain entry to cancer cells. In the tumours, they slowly release drugs at the point of need whilst sparing healthy tissue. Early preclinical studies for BMT101, our lead ovarian cancer candidate, compared to the clinical standard of care, paclitaxel, has shown very encouraging results including over 10-fold increases in drug concentration in tumours, 65-fold reductions in tumour burden, a 4-fold increase in survival and a reduction in toxicity. BMT101 and future Oncojan™ drug combinations are expected to be transformational in the treatment of cancer patients.
For further information visit: www.biomoti.com
Ovarian cancer indication
Invasive epithelial ovarian cancer is a fatal malignancy characterised by tumour spread to the abdominal cavity affecting the organs within (e.g. the spleen, bowel mesentery and liver). Globally, there were 313,959 ovarian cancer cases in 2020 including 66,693 in Europe and 23,820 in the US (GLOBOCAN). Unlike many other cancers, there have only been minor improvements in ovarian cancer patient outcomes. Women diagnosed with ovarian cancer in 1975 experienced a five-year survival rate of 36% whereas the American Cancer Society estimates the rate to be at 49% in 2019. It is the 5th leading cause of cancer deaths in women. Ovarian cancer patients are typically offered debulking surgery followed by chemotherapy. Carboplatin and paclitaxel are commonly used in combination. More recently PARP inhibitors have been added to the treatment regimen for a subset of ovarian cancer patients, namely those that are BRCA positive.
BMT101 ovarian cancer market
The global ovarian cancer therapeutics market size was valued at $1.8B in 2018 and is set to grow to over $6.7B by 2028 (GlobalData, 2019). This will primarily be driven by branded PARP inhibitor adoption as maintenance therapy in the first line setting for a subset of patients; Lynparza, Zejula and Rubraca are projected to achieve a combined revenue of $2.8B by 2028 (GlobalData, 2019). Chemotherapy continues to be standard treatment for 80% of ovarian cancer patients and is currently dominated by lower cost off-patent generics. There is a large opportunity for a new branded therapy that significantly improves on chemotherapy efficacy and tolerability. BMT101 is projected to quickly achieve over $385M in annual sales within the top 7 pharmaceutical markets alone, with the potential for peak sales in excess of $643M.
Dr John Beadle
John is an entrepreneurial biotech leader, founding and growing successful and innovative biotechnology companies. Working with strong management teams to produce exceptional scientific, clinical and commercial results, he has led innovative companies and programs in the fields of nucleotide based vaccines, gene therapies and immuno-oncology. Previous roles include: Founding Chief Executive Officer of PsiOxus Therapeutics; Founder and Chief Medical Officer of PowderMed; Entrepreneur in Residence at Imperial innovations; Site Head at Pfizer; and Vice President of Global Medical Operations at GlaxoSmithKline.
Total fundraising to date in excess of $150m, including equity fundraising in excess of $120m from a combination of European, US and Asian investors and non-dilutive funding in excess of $30m from European and US sources. Completed transactions include in-licensing and out-licensing as well as mergers & acquisitions, with total realised transaction values in excess of $300m to date. In 2017 PsiOxus appeared on the Sunday Times Tech Track 100 list of the fastest growing tech companies in the UK and FierceBiotech’s Fierce Fifteen list of global leading biotechnology companies.
In his early career, John held Research and Development roles of ascending seniority within The Wellcome Foundation, GlaxoWellcome and GlaxoSmithkline. John graduated as a Medical Doctor at the University of Witwatersrand and received his Masters of Business Administration from the London Business School.