SYDNEY, Australia, June 06, 2024 (GLOBE NEWSWIRE) -- EnGeneIC, a clinical-stage biopharmaceutical company pioneering the development of a First-in-Class targeted nanocell for cancer therapy has today announced strategic partnerships with Singapore Institute of Advanced Medicine Holdings (SAM) and Singapore Medical Incorporation (SMI). The partnerships will bring significant new funding to allow EnGeneIC to immediately progress its clinical trial programmes in Australia and the USA. Further, the agreements aim to accelerate the clinical development, manufacture and commercialisation of EnGeneIC’s proprietary technology, EnGeneIC Dream Vector (EDVTM) for cancer treatment across Asia.
The commercial deal will provide exclusive rights to SAM for sales of EDV therapeutics in Asia and net profits will be shared between the two companies with EnGeneIC receiving a majority. In addition, EnGeneIC and SAM will collaborate on the development of EDV-based theranostics. Theranostics combine therapeutic and diagnostic capabilities to improve cancer treatment outcomes. By integrating imaging and treatment into a single platform, EDV-based theranostics have the potential to provide precise, personalised care, enabling early detection and targeted therapy.
A signatory to the partnership is the Singapore based diversified property, technology and hotel entity Crescendas Group (Singapore Medical Incorporation Pte Ltd) which has committed to providing funds for the capital expenditure requirements needed to complete the next phase of clinical tests to secure Food and Drug Administration (FDA) approval in the US. Crescendas operates in Singapore, Malaysia, China and the Maldives and is owned by the prominent Singaporean businessman Mr. Lawrence Leow who is also a former nominated member of the Singapore parliament.
“Partnering with SAM and SMI marks a significant milestone for EnGeneIC, as we expand our footprint into our Asian neighbours”, said Dr. Jennifer MacDiarmid, Joint CEO of EnGeneIC. “Our EDV technology is poised to transform cancer treatment and together with our partners’ expertise and resources which will facilitate cGMP-manufacturing capability and clinical trials, we are well-positioned to bring EDVs to a much broader patient population.”
Dr. Shih Kien Djeng, Chairman and CEO of SAM said, “We are excited to collaborate with EnGeneIC to bring their cutting edge EDV-based therapeutics to Singapore and Asia. The EnGeneIC partnership aligns with our mission to advance medical innovation and improve patient outcomes. By combining our not inconsiderable strengths, we aim to deliver revolutionary cancer treatments that offer new hope to patients throughout the region.
About EnGeneIC
EnGeneIC is a clinical-stage biopharmaceutical company focused on advancing its proprietary EDV® (EnGeneIC Dream Vector) nanocell technology for oncology and infectious disease applications. The EDVTM nanocell is the foundation of a first-in-class antibody nanocell drug conjugate platform for delivering a range of therapeutic payloads - drugs, siRNAs, miRNAs, adjuvants – via antibody-targeting a cancer cell’s surface, with minimal toxicity. For cancer applications, the EDV technology enables delivery of the most potent chemotherapeutic agents, effectively overcoming drug-resistance and killing tumor cells, while simultaneously stimulating the patient’s immune system, allowing a potent ant-tumour response. EnGeneIC is now entering Phase IIa clinical trials in Australia and USA in patients with intractable, low survival cancers, including patients with metastatic pancreatic cancer.
About Singapore Institute of Advanced Medicine Holdings
Singapore Institute of Advanced Medicine Holdings Ltd (“SAM”) is healthcare service provider in Singapore that used advanced technology for early and accurate diagnosis and the treatment of a variety of diseases and health conditions including cancer, neurodegenerative and cardiovascular diseases. SAM’s services include Nuclear Medicine and Theranostics, Proton Therapy and Radiation Therapy. SAM has strategic collaborations with public and private institutions for research
and clinical work.
EnGeneIC contact:
Dr. Jennifer MacDiarmid
Joint-CEO & Director
Email: [email protected]
EnGeneIC Pty Ltd,
Level 4, B53, 11 Julius Ave,
North Ryde, Sydney, NSW 2113
Australia.
Website: www.engeneic.com
