Ohio University licenses drug candidates to N.Y. firm in $600k deal

Ohio University has licensed to New York-based Phosplatin Therapeutics a group of compounds that could be developed into cancer-fighting drugs.

Phosplatin has begun making quarterly payments that’ll total $600,000 for Ohio University researchers to continue animal testing on the compounds, according to a statement from the Athens, Ohio, university.

Rathindra Bose, vice president for research and dean of OU’s graduate college, designed and conducted the studies on the new compounds, which have successfully and safely inhibited ovarian cancer tumor progression in mice.

The compounds may also be able to treat colon, head and neck cancers, Bose told the Athens Post. The compounds are a combination of phosphate and platinum that are designed to kill cancer cells and prevent the spread of the disease without damaging DNA in the cell nuclei.

Platinum is among the most potent classes of cancer drugs, but can have severe toxic effects on the body. Bose’s compounds are designed to overcome some patients’ resistance to platinum therapies, according to the statement.

The immediate goal is to continue animal testing and submit an Investigational New Drug (IND) Application to federal regulators. If approved, this would enable researchers to begin human tests.

Bose said he hopes to submit the IND within about 18 months. If the drug is approved for sale by the U.S. Food and Drug Administration, which would be several years away even in the best case, OU would be entitled to royalties from its sales, Bose told The Post.

OU earned $8.2 million in royalties last year, much of it from a drug licensed to Pfizer, according to the statement.