PCI Biotech, a Norwegian cancer focused biopharmaceutical company, announced that it is initiating a pre-clinical research collaboration with RXi Pharmaceuticals (NASDAQ: RXII). RXi is an American biotechnology company focused on discovering and developing innovative therapeutics, that address high-unmet medical needs primarily in the area of dermatology and ophthalmology.
The partnership is governed by a pre-clinical research collaboration agreement. Initially, the purpose of the pre-clinical research collaboration is to utilize the companies’ complementary scientific platforms to explore potential synergies.
In brief the pre-clinical research collaboration will evaluate technology compatibility based on in vitro and in vivo studies. The costs related to the research collaboration will be covered by each company separately. The companies will evaluate results achieved from this research collaboration and then explore the potential for a closer collaboration.
Both companies will retain exclusive ownership rights to existing registered intellectual property. However, any inventions arising from the collaboration will be jointly owned by the companies.
About PCI Biotech
PCI Biotech is a cancer focused biopharmaceutical company headquartered in Norway and listed on the Oslo Stock Exchange (Axess). The company is developing therapeutic products based on its proprietary photochemical internalization (PCI) technology. Originating from world leading research at the Norwegian Radium Hospital, the PCI technology works by inducing triggered endosomal release and may be used to unlock the true therapeutic potential of a wide array of modalities, such as small molecules, ADCs and siRNA. Two programs are currently in clinical development in patient populations with a high unmet medical need; recurrent head and neck cancer (phase II) and bile duct cancer (phase I/II).
The company is also developing PCI as a CTL induction technology for therapeutic and prophylactic vaccination. It has been demonstrated both in vivo and ex vivo that PCI significantly increases the number of activated antigen-specific CTLs (Cytotoxic T Lymphocytes) by enhancing the MHC I antigen presentation of antigen presenting cells. When applied more specifically to the emerging field of cancer immunotherapy, PCI can be used to enhance the important cytotoxic effect of therapeutic cancer vaccines. PCI Biotech follows a strategy to create value by improving the effect both of existing cancer drugs and by realizing the large potential in new therapeutics, including therapeutic vaccines.