CureLab receives $3M from prominent biotech investor John Ballantyne
CureLab Oncology, CureLab Veterinary are developing therapies that employ plasmids
The co-founder of Aldevron, John Ballantyne, has invested $3M in CureLab Oncology and CureLab Veterinary. The sister companies have developed an anti-cancer and anti-inflammatory drug that was contract-manufactured by Aldevron at the time Ballantyne served as chief scientific officer, according to a March 2 news release. The investment positions both companies to attain the R&D milestones needed to secure additional rounds of funding.
Both CureLab Oncology and CureLab Veterinary are developing therapies that employ plasmids, circular DNA encoding a gene called p62/SQSTM1. CureLab Oncology is applying the p62 plasmid to treat human cancers. Following impressive clinical data presented at the European Society for Medical Oncology Congress in Paris and the ongoing progress of the company's clinical studies, the funds will enable CureLab Oncology to ramp up toward FDA-monitored clinical trials for triple-negative breast cancer and platinum-resistant ovarian cancer in 2023.
Ballantyne said in the news release that he has observed the CureLab journey since Aldevron produced the very first batch of their product.
"I have witnessed the CureLab team growing and evolving, obtaining patent protection around the world, and keeping an eye on their pre-clinical and clinical progress," he said. "The team and the strength of their recent clinical data is what made me want to invest."
Alexander Shneider, CEO of CureLab Oncology, said the investment among the two companies will greatly reduce R&D risks for both CureLab Oncology and CureLab Veterinary.
The research activities of the CureLab sister companies are highly synergistic. The data obtained in real-life veterinary settings, in pets, serves as a much stronger predictor for human clinical trials than experiments conducted on laboratory animals. For example, if CureLab Veterinary demonstrates that the product is effective in the treatment of canine osteoarthritis or inflammatory bowel syndrome, both of which are highly prevalent among dogs, CureLab Oncology could extend its clinical programs to treat these pathologies.
For the treatment of domestic animals, CureLab Veterinary received positive clinical results in 10 out of 11 dogs diagnosed with breast cancer. The company is looking to take its patented p62 plasmid technology through the USDA-CVB process with a view to marketing new anti-cancer and anti-inflammatory technologies for use by veterinarians.
Robert Devlin, president of CureLab Veterinary, said in the news release that through Ballantyne's generous support, the companies hope to help many animals and bring joy to pet owners worldwide.
CureLab Veterinary is currently engaged in a crowdfunding effort with Netcapital.
About Elenagen
CureLab's lead investigational compound is code-named Elenagen, an experimental DNA therapy that consists of a circular piece of DNA called a plasmid that includes a gene for a human protein called p62/SQSTM1. In animal studies and Phase I/II human trials conducted ex-US, Elenagen demonstrated promise in reversing tumor grade, changing the tumor microenvironment, and enhancing the anti-cancer effects of chemotherapy. Experimental results also indicate mitigation of chronic inflammation and stimulation of an immune response to the tumor.
About CureLab Veterinary
Today, our four-legged family members are living longer than ever. Unfortunately, with this longer lifespan, our furry friends now are experiencing many of the same cancers and diseases due to chronic inflammation as their pet parents. CureLab Veterinary, a sister company of CureLab Oncology, is dedicated to bringing advanced therapies to treat cancer and inflammatory diseases to support better pet health and longevity. To learn more, visit curelabveterinary.com.
About CureLab Oncology
CureLab Oncology Inc. is a pre-IPO, clinical-stage immuno-oncology biotech company headquartered in the greater Boston area, Massachusetts. CureLab is dedicated to advancing new and safer therapeutics for solid tumors and other oncology and inflammatory indications. To learn more, visit curelab.com.
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