Qualigen Therapeutics Secures Option to Negotiate License for G-Quadruplex Anti-Cancer Technology from UCL
March 01 2021 - 8:30AM
Qualigen Therapeutics, Inc. (NASDAQ: QLGN), a biotechnology company
focused on developing novel therapeutics for the treatment of
cancer and viral diseases, announced today it has entered into a
Material Evaluation and Option Agreement with the University
College London (UCL) to advance development of and potentially
expand toward future commercial uses of Qualigen's leading
anticancer drug candidate AS1411-GNP, also known as ALAN
(Aptamer-Linked Anti-Nucleolin).
In collaboration with the University of
Louisville, Qualigen will evaluate the use of ALAN with
G-quadruplex binders (GQBs) developed by Professor Stephen Neidle
and colleagues from UCL. Research at UCL, supported by the UCL
Technology Fund, has shown encouraging results using GQBs and
targeted cancer therapeutics, particularly for the treatment of
pancreatic cancer. Qualigen believes the combination of these GQBs
with ALAN may increase the cancer selectivity, and therefore also
the efficacy, of ALAN. Qualigen has secured an option to pursue a
worldwide commercial license for this promising technology from UCL
Business Ltd, the commercialization company of UCL.
“This agreement with UCL will allow Qualigen to
study a significant potential indication for ALAN with improved
selectivity for pancreatic cancer cells. In addition to the
pancreatic cancer treatment indication, we also continue to
evaluate ALAN to treat leukemia and glioblastoma, and as an
adjuvant therapy to stop the recurrence of cancer after initial
treatment,” stated Michael Poirier, President, Chief Executive
Officer and Chairman of Qualigen.
“We look forward to collaborating with Qualigen
and continuing to support our partners in the development of
exciting new therapeutics around G-quadruplex binders and other
targeted cancer therapeutics,” said Prof. Stephen Neidle of UCL
“The use of our proprietary GQBs to potentially increase the
efficacy of ALAN could provide a major leap forward in the
treatment of often terminal diseases such as pancreatic
cancer.”
According to the American Cancer Society, for
all stages of pancreatic cancer combined, the one-year relative
survival rate is 20%, and the five-year rate is 9%.
ALAN is a combination of Qualigen’s AS1411 DNA
aptamer plus a DNA-coated gold nanoparticle to dramatically
increase its potency. This cancer drug candidate has the potential
to target and destroy tumor cells in a various types of cancer with
minimal side effects. The Company is aiming to commence Phase 1
human trials in 2021 for acute myeloid leukemia, its lead
indication. Qualigen has an exclusive worldwide license agreement
from the University of Louisville for ALAN.
About Qualigen Therapeutics, Inc.
Qualigen Therapeutics, Inc. is a biotechnology
company focused on developing novel therapeutics for the treatment
of cancer and infectious diseases, as well as maintaining and
expanding its core FDA-approved FastPack® System, which has been
used successfully in diagnostics for 20 years. The Company's cancer
therapeutics pipeline includes ALAN (AS1411-GNP), RAS-F and STARS™.
ALAN (AS1411-GNP) is a DNA coated gold nanoparticle cancer drug
candidate that has the potential to target various types of cancer
with minimal side effects. The foundational nucleolin-targeting DNA
aptamer of ALAN, AS1411, is also a drug candidate for use in
treating COVID-19 and other viral-based infectious diseases. RAS-F
is a family of RAS oncogene protein-protein interaction inhibitor
small molecules for preventing mutated RAS genes’ proteins from
binding to their effector proteins; preventing this binding could
stop tumor growth, especially in pancreatic, colorectal and lung
cancers. STARS is a DNA/RNA-based treatment device candidate for
removal from circulating blood of precisely targeted tumor-produced
and viral compounds. Because Qualigen's therapeutic candidates are
still in the development stage, Qualigen's only products that are
currently commercially available are FastPack System diagnostic
instruments and test kits, used in physician offices, clinics and
small hospitals around the world. The FastPack System menu includes
rapid point-of-care diagnostic tests for cancer, men's health,
hormone function, vitamin D status and antibodies against
SARS-CoV-2. Qualigen's facility in Carlsbad, California is FDA and
ISO Certified and its FastPack product line is sold worldwide by
its commercial partner Sekisui Diagnostics, LLC. For more
information on Qualigen Therapeutics, Inc., please visit
https://www.qualigeninc.com/.
About UCL Business (UCLB)
UCL Business Ltd (UCLB), part of UCL Innovation
& Enterprise, is the commercialisation company for UCL. Working
with UCL’s globally renowned faculties and associated hospitals;
University College London Hospitals, Moorfields Eye Hospital, Great
Ormond Street Hospital for Children and the Royal Free London
Hospital, it brings together exceptional ideas, innovations and
industry to benefit society and the economy.
UCLB’s track record of success includes over
£1.5 billion raised in investment for UCL spinouts, and its Portico
Ventures Programme is enabling the next wave of technology-based
businesses to thrive in a fast-moving ecosystem. Its fund offerings
- Apollo Therapeutics (in partnership with leading UK universities
and pharmaceutical companies), UCL Technology Fund, and Social
Ventures fund - help to bring pioneering technologies from the
laboratory to market, enabling academic entrepreneurs to tackle
global challenges, from energy and engineering to healthcare and
the environment.
www.uclb.com
Forward-Looking Statements
This news release contains forward-looking
statements by the Company that involve risks and uncertainties and
reflect the Company's judgment as of the date of this release.
These statements include those related to evaluation of and
potential future negotiation toward a license for GQBs, the
possible effectiveness of ALAN (or ALAN with GQBs) against cancers
and the approval and timing of clinical trials. Actual events or
results may differ from the Company’s expectations. For example,
there can be no assurance that joint use of ALAN and GQBs will be
safe and/or efficacious against any type of cancer; that the
Company will choose to seek a worldwide license for GQBs from UCL;
that, if the Company does seek one that the Company will be able to
agree with UCL on terms for such a license on favorable terms or at
all; that any clinical trials will be approved to begin by or will
proceed as contemplated by any projected timeline; that the Company
will successfully develop any drugs or therapeutic devices; that
preclinical or clinical development of the Company's drugs or
therapeutic devices will be successful; that future clinical trial
data will be favorable or that such trials will confirm any
improvements over other products or lack negative impacts; that any
drugs or therapeutic devices will receive required regulatory
approvals or that they will be commercially successful; that
patents will issue on the Company’s owned and in-licensed patent
applications; that such patents, if any, and the Company’s current
owned and in-licensed patents would prevent competition; that the
Company will be able to procure or earn sufficient working capital
to complete the development, testing and launch of the Company’s
prospective therapeutic products; that the Company will be able to
maintain or expand market demand and/or market share for the
Company’s diagnostic products generally, particularly in view of
COVID-19-related deferral of patients’ physician-office visits and
FastPack reimbursement pricing challenges; that adoption and
placement of FastPack PRO System instruments (which are the only
FastPack instruments on which the Company's SARS-CoV-2 IgG test
kits can be run) will be widespread; that the Company will be able
to manufacture the FastPack PRO System instruments and SARS-CoV-2
IgG test kits successfully; that any commercialization of the
FastPack PRO System instruments and SARS-CoV-2 IgG test kits will
be profitable; or that the FDA will ultimately approve an Emergency
Use Authorization for the Company’s SARS-CoV-2 IgG test. The
Company’s stock price could be harmed if any of the events or
trends contemplated by the forward-looking statements fails to
occur or is delayed or if any actual future event otherwise differs
from expectations. Additional information concerning these and
other risk factors affecting the Company's business (including
events beyond the Company's control, such as epidemics and
resulting changes) can be found in the Company's prior filings with
the Securities and Exchange Commission, available at www.sec.gov.
The Company disclaims any intent or obligation to update these
forward-looking statements beyond the date of this news release,
except as required by law. This caution is made under the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995.
Investor Relations:
David Kugelman(404) 856-9157 Office(866) 692-6847 Toll Free -
U.S. & Canadadk@atlcp.com
Tony Schor(847) 971-0922tony@investorawareness.com
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