Cytopia receives A$3 million grant to develop anti-cancer compound CYT997

By Angela McDaniels

Seattle, Nov. 3 - Cytopia Ltd. said it received a A$3 million Australian Government Commercial Ready Grant to expand the clinical development of its anti-cancer agent CYT997.

The new funds will allow the company to undertake further studies in cancer models and to devise an oral formulation of the compound. Cytopia said further clinical trials are also planned, including studies in patients with specific cancer types.

"This grant will ... significantly enhance the future partnering prospects for CYT997," said Kevin Healey, Cytopia managing director.

An intravenous formulation of the compound is undergoing a phase-1 clinical study in humans after showing high efficacy in a range of animal tumor models, including breast, colon and prostate cancers, the company said.

CYT997 has a dual mode of action, killing cancer cells and closing down established tumor blood vessels. Cytopia noted that it does not appear susceptible to the tumor-resistance mechanisms encountered by many leading cancer drugs.

Cytopia is a biotechnology company based in Melbourne, Australia that specializes in the development of kinases - molecules that inhibit enzymes - for the treatment of cancer, immune disorders and cardiovascular diseases.

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