According to the Hartford Business Journal, Koltan Pharmaceuticals Inc. has revealed that it will soon begin trials for its new cancer therapy treatment that has gained attention from investors and major pharmaceutical investors. The new treatment targets and attempts to block tumor-causing chemical signals in cancer cells.
Koltan raised $75 million from life sciences investors in July 2013 and also signed a licensing agreement with MedImmune. Clinical trials will begin this year, and if they are successful, the therapy could significantly impact cancer treatment and research.
The therapy centers around monoclonal antibody drugs, also known as mAbs, which target cancer cell receptors that send signals to cancer cells instructing them to multiply. If the antibodies are successful, they block the signal and prevent cancer cells from replicating. When effective, mAbs mimic the natural antibodies that the human immune system produces to fight infections.
Koltan Pharmaceuticals began as a startup in New Haven, launched through the discoveries of Yale professor Dr. Joseph Schelssinger, who co-founded Koltan along with Arthur G. Altschul Jr. in 2007. The privately-owned firm has raised over $75 million in private capital from life science investors such as HBM BioCapital L.P., Purdue Pharma L.P. and KLP Enterprises.
One challenge Koltan will face is developing an mAb treatment that can withstand the resistance that many patients develop during later dosing cycles. Koltan’s CEO Gerald McMahon says Koltan’s new drug will not have this problem. If the trials prove this to be true, the drug will make major waves in the pharmaceutical industry. “Our goal is to build an industry-leading company that can generate and develop novel [drugs] for use in oncology and other severe diseases.”
CAL Business Solutions is proud to have Koltan Pharmaceuticals in our family of Microsoft Dynamics GP clients.
By CAL Business Solutions, Connecticut Microsoft Dynamics GP Partner, www.calszone.com
