San Diego trade mission to Vancouver announces Phoenix Molecular Designs' expansion into the USA

VANCOUVER, BC--(Marketwired - June 23, 2017) - San Diego Mayor Kevin Faulconer is leading a trade mission of 26 delegates to Vancouver on Monday, June 26 to promote shared economic goals involving sustainable technologies and to promote partnership in building infrastructure in the life science sector.

Among Monday's stops is a visit to Phoenix Molecular Designs (PhoenixMD) to recognize the bio-tech company's expansion of operations to San Diego. PhoenixMD has made a major breakthrough in developing a novel new therapy for triple negative breast cancer (TNBC). The new chemotherapy could save thousands of lives around the world and bring hope to breast cancer patients.

PhoenixMD led by Dr. Sandra Dunn has chosen to establish a beachhead in the American market in San Diego to better access a superb talent pool, a network of existing biotech companies and a robust capital market.

Vancouver has long been recognized for its leadership in medical discoveries and genomics. Establishing strong ties between Vancouver and San Diego will enable the advancement of important medical discoveries into new medicines to expedite the treatment of cancer as well as other life-threatening diseases.

"It is rare for biotech companies in Canada to establish themselves in the USA and to see a company such as Phoenix Molecular Designs grow at this rate," says company CEO Dr. Dunn, CEO. "We have incredible backers and a high level of support from the National Institutes of Health, major comprehensive cancer centers in the USA and the interest of global investors."

Research scientists at PhoenixMD have succeeded in shutting down the growth of TNBC in mice with the novel drug lead PMD-026. Importantly, the mice showed no adverse effects from what looks like a promising new medication for TNBC.

PhoenixMD is the first company to demonstrate a new approach in treating TNBC breast cancer is safe and effective in mice and is planning on moving to clinical trials next year.

"The expansion into San Diego will allow us to develop drugs faster. It gives us access to talent, with regards to drug development we do not have in Vancouver. Most patients don't have forever to wait for a treatment. This is why we have developed a unique business model that bridges Vancouver and San Diego in a strategic alliance that will accelerate our growth and ultimately deliver much needed therapies to cancer patients more efficiently," Dr. Dunn says.

The San Diego Mayoral Trade Mission in Vancouver from June 25 to 27 includes visits to Vancouver-based cleantech companies, the University of BC's Robson Street campus and the Port of Vancouver along with a reception hosted by the US Consulate and Phoenix MD.

PhoenixMD has won numerous awards for breast cancer research, achieving first place in the BIOTECanada Coast to Coast Pitch competition, the Canadian Technology Accelerator competition and the Biocom Global Partnering mentorship program presented by the Canadian Trade Commissioners office in San Diego.

The San Diego Trade Mission visits the Phoenix Molecular Designs office from 3 to 3:40 p.m. Monday at Suite 125 - 887 Great Northern Way, Vancouver.