Australian biotech company CTxONE has re-branded to Oncology One in a move it says will support its goal to raise and deploy meaningful capital to progress small molecule cancer drug discovery projects towards the clinic.
Oncology One was the original management company and then a commercialisation partner of the Cooperative Research Centre for Cancer Therapeutics, a collaborative partnership of Australia’s leading medical research institutes, universities and biotechnology companies that was founded in 2007.
Oncology One CEO Dr Joanne Boag said, “We are delighted to launch our new name and brand as Oncology One today – an important aspect in defining our identity and accompanying the development of a new strategy, which has been a work in progress for the past six months.”
Oncology One licensed technology related to a new class of cancer drugs to Pfizer in 2018 in a deal it said it worth up to US$475 million in development milestones, with additional royalties on sales if the technology is successful.
Late last year, PF-07248144 entered phase 1 clinical trials for the potential treatment of patients with advanced or metastatic breast, prostate or lung cancer.
Oncology One said it is now implementing a strategy focused on building a diversified small molecule oncology pipeline and aims to help translate more of Australia’s cancer research into treatments.
Dr Boag said, “We are privileged to have established relationships with world-class innovators and research institutions. Our goal now is to progress small molecule oncology drug development programs towards the clinic. We are working to curate and develop high quality programs that aim to meet yet unmet clinical needs, inclusive of underserved areas such as paediatric and rare cancers.”