Onexo is an innovative company specializing in the development of orphan oncology therapeutics. Today it announced that it has acquired DNA Therapeutics, a privately-held, clinical-stage biopharmaceutical company.
Paris-based Onxeo is looking to utilize the company’s singal-interfering DNA repair technology – the lead product is called DT01 – to potentially overcome cancer resistance mechanisms. The closing of this acquisition is planned for the end of March.
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The signal-interfering DNA (siDNA) molecule breaks the cycle of tumor DNA repair while sparing healthy cells. The siDNA technology could potentially offers a new treatment option for patients suffering from various types of cancer.
As Onxeo explained it in a release: “The siDNA molecule is a short double-stranded DNA molecule that acts as a decoy, providing a false DNA break signal to attract DNA repair proteins which prevents the recruitment of repair enzymes to the site of actual DNA damage. Cancer cells do not have the ability to stop division in the face of DNA damage; they will continue dividing with the damaged DNA and therefore die. Healthy cells, on the other hand, will halt cell division until the compound is no longer present and damaged DNA can be repaired.”
Onxeo is acquiring DNA Therapeutics for an upfront payment of nearly $1.85 million in common shares at deal closing. Depending on further clinical trials, development and approvals, further royalties will be granted.
In a press conference call, Onxeo CEO Judith Greciet said, “The acquisition is an extremely big step for us, we believe it can accelerate our company. It’s a strategic way for us to use an acquisition to move us forward and provide more for our shareholders.”
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Onxeo is also trying to get its product Validive approved in the U.S., which means it must enter into Phase 3 of clinical trials. The company is look for additional partnership to bring this to fruition.
Photo: Flickr user NIH Image Gallery
