Qualigen Therapeutics Secures Worldwide Rights to G4-Selective Transcription Inhibitors from University College London to Develop as Cancer Therapeutics
January 18 2022 - 9:15AM
Qualigen Therapeutics, Inc. (Nasdaq: QLGN), a biotechnology company
focused on developing treatments for adult and pediatric cancers
with potential for Orphan Drug Designation, today announces the
exclusive worldwide in-license of a genomic quadruplex
(G4)-selective transcription inhibitor drug development program,
including lead and back-up compounds, preclinical data and a patent
estate, from University College London (UCL). Qualigen intends to
develop the lead compound, now called QN-302, as a treatment for
pancreatic ductal adenocarcinoma (PDAC), which represents the vast
majority of pancreatic cancers. This license agreement was carried
out by UCL Business Limited, the commercialization company for UCL.
“QN-302 is a promising candidate with a novel
mechanism of action, supported by preclinical data from one of the
leading pharmacology institutions in the world. This program aligns
with our oncology focused therapeutics pipeline, expands our IP
portfolio, and positions Qualigen well in this exciting area of G4
cancer research,” commented Michael Poirier, Qualigen’s Chief
Executive Officer. “The scientific work UCL completed on the G4
platform could enable us to proceed with IND-enabling studies in
2022 toward an initial indication of pancreatic cancer.”
QN-302 was supported by the UCL Technology Fund,
and in the earlier years, in part by Cancer Research UK funding,
and is a small molecule that targets regions of cancer genes which
have a disproportionately high number of G4s. Preclinical studies
show that QN-302 selectively binds to G4s, forming a complex that
prevents the G4 structures from “unwinding” at the cancer cells’
key regulatory regions. By preventing such “unwinding,” QN-302
would inhibit transcription. Through this mechanism, QN-302 has
demonstrated anti-tumor activity in multiple tumor types, including
in-vivo PDAC models, without toxicity at proposed therapeutic
doses. Further, studies suggest encouraging anti-tumor activity
against gemcitabine-resistant tumors.
Very limited options exist to treat pancreatic
cancer, and it has one of the lowest survival rates of all cancer
types, with a fatality rate of one in four within the first month
of diagnosis. Accordingly, QN-302 may ultimately be eligible to
obtain Orphan Drug Designation, with potential for key regulatory
and commercial advantages.
Qualigen’s in-licensed G4-binder program was
developed by Professor Stephen Neidle and his team from the UCL
School of Pharmacy, in Great Britain, one of the top ten pharmacy
and pharmacology research institutions in the world. Professor
Neidle has a distinguished 30+ year history in nucleic acid
research and drug design with over 500 published papers and 14
patents. “The positive early outcomes in evaluating the G4 approach
have been encouraging, particularly in pancreatic cancer. We look
forward to further exploring this approach against this disease,
including those tumors that have shown little to no response to
standard chemotherapeutic treatments such as gemcitabine,” added
Professor Neidle.
About Qualigen
Therapeutics, Inc.
Qualigen Therapeutics, Inc. is a biotechnology
company focused on developing treatments for cancer, as well as
maintaining and expanding its core FDA-approved FastPack® System,
which has been used successfully in diagnostics for 20 years.
QN-302 is a small molecule selective transcription inhibitor with
strong binding affinity to G4s prevalent in cancer cells; such
binding could, by stabilizing the G4s against “unwinding,” help
inhibit cancer cell proliferation. QN-247 inhibits nucleolin, a key
multi-functional regulatory protein that is overexpressed in cancer
cells; QN-247 may thereby be able to inhibit the cells’
proliferation. QN-247 has shown promise in preclinical studies for
the treatment of acute myeloid leukemia (AML). The compounds within
Qualigen’s RAS-F family of RAS oncogene protein-protein interaction
inhibitor small molecules are believed to inhibit or block the
binding of mutated RAS genes’ proteins to their effector proteins,
thereby leaving the proteins from the mutated RAS unable to cause
further harm. Such mechanism of action may be effective in the
treatment of about one quarter of all cancers, including certain
forms of pancreatic, colorectal, and lung cancers. In addition to
its oncology drug pipeline, Qualigen has an established diagnostics
business which manufactures and distributes proprietary and highly
accurate rapid blood testing systems to physician offices and small
hospitals for the management of prostate cancer and other diseases
and health conditions.
For more information about Qualigen Therapeutics, Inc., please
visit www.qualigeninc.com.
Forward-Looking Statements
This news release contains forward-looking
statements by Qualigen that involve risks and uncertainties and
reflect the Company's judgment as of the date of this release.
These statements include those related to the Company's prospects
and strategy for the development of therapeutic drug candidates.
Actual events or results may differ from the Company's
expectations. For example, there can be no assurance that the
Company will successfully develop any drugs (including QN-302,
QN-247 and RAS-F); that preclinical development of the Company's
drugs (including QN-302, QN-247 and RAS-F, and the deprioritized
infectious-disease drug candidate QN-165) will be completed on any
projected timeline or will be successful; that any clinical trials
will be approved to begin by or will proceed as contemplated by any
projected timeline, or at all; that any 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 will
receive required regulatory approvals (or Orphan Drug status) 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 currently owned and
inlicensed 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 (including QN-302, QN-247 and RAS-F, and
QN-165); or that the Company will be able to maintain or expand
market demand and/or market share for the Company's diagnostic
products. 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 can be found in the Company's prior filings with the
Securities and Exchange Commission, including its most recent Form
10-K, all of which are 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 Atlanta Capital Partners, LLC(404) 856-9157 or
(866) 692-6847 Toll Free - U.S. & Canadadk@atlcp.com
Tony Schor Investor Awareness, Inc.(847)
971-0922tony@investorawareness.com
Source: Qualigen Therapeutics, Inc.
Qualigen Therapeutics (NASDAQ:QLGN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Qualigen Therapeutics (NASDAQ:QLGN)
Historical Stock Chart
From Apr 2023 to Apr 2024