Beactica Therapeutics AB and Oscotec Inc. have mutually decided to part ways and end their collaboration for the research and development of innovative anti-cancer drugs. The joint project was based on Beactica’s LSD1 program, which aimed to revolutionize cancer treatment. Both companies are now heading in different directions, but remain hopeful for the future.
Oscotec’s LSD1 programme has recently unveiled BEA-17, a revolutionary small molecule targeted degrader of the epigenetic enzyme LSD1 and its co-factor CoREST. BEA-17 has the potential to be a game-changer in the treatment of glioblastoma, a devastating form of brain cancer that has previously been difficult to tackle. This breakthrough could be a major step forward in tackling this difficult-to-treat condition and marks a significant milestone in Oscotec’s strategic priorities.
In an exciting agreement, Beactica Therapeutics will gain exclusive global rights to develop and commercialize the LSD1 programme, as well as ownership of all results from the collaboration. No further obligations will remain between the two companies, paving the way for new possibilities for both.
The U.S. Food and Drug Administration has granted Orphan Drug Designation to BEA-17, an exciting development in the potential treatment of glioblastoma (GBM). This designation provides hope to those affected by GBM, and encourages further study of this promising new therapy.
“We are proud to have collaborated with Beactica Therapeutics and congratulate them on the FDA’s Orphan Drug Designation of BEA-17 for the treatment of glioblastoma. To stay in line with our strategic objectives, we have decided to focus our attention on our internal assets going forward.”
Beactica Therapeutics is delighted by the successful collaboration with Oscotec and the successful outcome of retaining global rights to the LSD1 programme. This provides Beactica with the potential to become a clinical-stage company and allows them to further advance their ambitions. CEO, Dr Per Källblad, expressed his appreciation for the collaboration and the opportunity it has presented.
About Beactica Therapeutics
Beactica Therapeutics AB is on a mission to revolutionize cancer treatment and make a lasting impact on patient lives. The company is using cutting-edge precision oncology approaches to develop novel small molecule therapeutics, targeting synthetically lethal disease proteins with allosteric modulators and targeted protein degraders (PROTACs).
With an ambitious yet achievable goal in mind, Beactica is committed to advancing its promising pipeline of therapeutic candidates to clinical proof of concept, bringing much-needed hope to those afflicted with cancer, and value to its shareholders.
At Oscotec Inc., we are on a mission to create value for patients and their families by unlocking the power of cutting-edge science and turning it into innovative treatments for unmet medical needs.
We focus on discovering small molecules with novel mechanisms of action and validating the drug-target-disease hypothesis through rigorous research and development to bring them to clinical proof-of-concept. Our goal is to become a leading “discovery engine,” driving forward transformative therapies that make a real difference in people’s lives.