A North Carolina startup is developing an interesting small molecule drug to treat gliomas, which are rare and aggressive forms of brain cancer.
It’s just secured a humble early funding round – $500,000 of a potential $1 million round, according to a regulatory filing.
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Just this month, the company received orphan drug designation in both the European Union and American for treating glioblastoma.
Its small molecule drug, FLAG-003, has two distinct mechanisms of action – working to both kill cancer cells and suspend their activity. “It possesses cytotoxic anti-tubulin activity by binding to the colchicine site of tubulin causing microtubule depolymerization,” Flag Therapeutics said in a release. “It also possesses anti-angiogenic activity through binding and inhibition of RTK receptor tyrosine kinase (RTKs) activity.”
When compared to temozolomide, the current approved chemotherapy, Flag says its approach better inhibits tumor growth and vascularization in glioblastomas.
The company was founded in 2013, having licensed the technology from Duquesne University. It has 26 issued patents and 28 pending applications.
