Fort Lee, New Jersey, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Nuvectis Pharma, Inc. (the “Company” or “Nuvectis”), a biopharmaceutical company focused on the development of innovative precision medicines for serious conditions of unmet medical need in oncology, today announced the completion of a $15 million Series A Preferred Stock financing with institutional and private investors. Nuvectis also announced that it has licensed exclusive worldwide rights to develop and commercialize the drug candidate NXP800, a novel, oral small molecule inhibitor of the heat shock factor 1 (HSF1) pathway from the CRT Pioneer Fund LP, a specialist oncology investment fund managed by Sixth Element Capital, a UK based fund manager. The compound was discovered at the Cancer Research UK Cancer Therapeutics Unit at The Institute for Cancer Research, London, England.
The HSF1 pathway is involved in the regulation of key pathways involved in cancer cell growth, metastasis, and survival across a variety of malignancies. In preclinical studies, NXP800 inhibited tumor growth in xenograft models of ovarian clear cell carcinoma ("OCCC") and endometroid ovarian cancer, both serious conditions of unmet medical need.
Given its product profile, NXP800 has the potential to become a first-in-class inhibitor of the HSF1 pathway. A Phase I trial in patients with advanced solid tumors is expected to commence in the fourth quarter of 2021, followed by cohorts evaluating patients with OCCC and endometroid ovarian cancers.
Paul Workman FRS FMedSci, Chief Executive and President of The Institute of Cancer Research, London, and also the originator and leader of the HSF1 drug discovery program, said, “We are delighted to have partnered NXP800 with the experienced team at Nuvectis following a highly creative successful drug discovery programme here at The Institute of Cancer Research. We are confident that Nuvectis’ management’s demonstrated track record in drug development bodes well for the successful and rapid development of NXP800 and ultimately hope it becomes a much-needed new option that benefits patients with hard-to-treat cancers.”
“We are excited to partner with the world renowned ICR and CRT to advance the clinical development of NXP800,” said Ron Bentsur, Co-Founder, Chairman and Chief Executive Officer of Nuvectis. “Building upon our team’s proven track record of success in drug development, we intend to advance NXP800 through the clinical and regulatory process with an eye towards achieving our goal of helping people in their fight against cancer.”
About Nuvectis Pharma
Nuvectis Pharma, Inc. is a biopharmaceutical company focused on the development of innovative precision medicines for serious conditions of unmet medical need in oncology. Nuvectis was founded in 2020 and is led by a team of industry veterans with broad and extensive drug development experience, and a proven track record of clinical and regulatory success. NXP800, our lead drug candidate, has the potential to become a first-in-class HSF1-pathway inhibitor and a Phase 1 trial of NXP800 in patients with advanced solid tumors is set to begin in 4Q2021. For more information, please visit www.nuvectis.com.
About Sixth Element Capital LLP and the CRT Pioneer Fund
Sixth Element Capital LLP (6EC) is a UK based fund manager, which manages the CRT Pioneer Fund. 6EC’s experienced partners focus on creative and collaborative novel financing solutions designed to fund and manage innovative science in order to bring new therapeutic products and technologies to market, creating long term value and benefit to stakeholders. The CRT Pioneer Fund is a specialist oncology investment fund established by 6EC in 2012. The £70 million fund is dedicated to investments in oncology development programs in Europe. The fund was established to bridge the investment gap between cancer drug discovery and early clinical development. For more information, please see www.sixthelementcapital.com.
About The Institute for Cancer Research, London
The Institute of Cancer Research, London, is one of the world's most influential cancer research organizations.
Scientists and clinicians at The Institute of Cancer Research (ICR) are working every day to make a real impact on cancer patients' lives. Through its unique partnership with The Royal Marsden NHS Foundation Trust and 'bench-to-bedside' approach, the ICR is able to create and deliver results in a way that other institutions cannot. Together the two organizations are rated in the top four centers for cancer research and treatment globally.
The ICR has an outstanding record of achievement dating back more than 100 years. It provided the first convincing evidence that DNA damage is the basic cause of cancer, laying the foundation for the now universally accepted idea that cancer is a genetic disease. Today it is a world leader at identifying cancer-related genes and discovering new targeted drugs for personalized cancer treatment.
The ICR is a charity and relies on support from partner organizations, funders and the general public. A college of the University of London, it is the UK’s top-ranked academic institution for research quality and provides postgraduate higher education of international distinction.
The ICR's mission is to make the discoveries that defeat cancer.
For more information visit https://www.icr.ac.uk/
