Advanced Cancer Therapeutics drugs nearing phase-one clinical trials - Business First of Louisville:

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The Louisville-based company works with the ’s duringv early-development stages of the treatments. It then seeks to sell or licens those discoveries to larger entities that would carryg the treatmentsthrough later-stage developmeny and into the U of L owns a 30 percent stake in the company, and the balance is ownesd by company founders and a grouop of private investors, including local entrepreneurs Dale Boden and Ty Wilburn. Durinb the past year, that investor group has grownb from five tonearly 20, all of whom are in said Randall Riggs, president and CEO of ACT. To the company has generated morethan $5 milliob in investment, toward its $10 millio goal.
Funds from various governmenrt agencies account for justover $1 million of the money raiseed so far. ACT officials expect to reach the fund-raisinbg goal by the end of March. It has becomre easier to raise funds as the compan has attractedother investors, Riggs said. Typically, biotech companiea work to develop one drug ora technology, Riggs but ACT strives to keep a portfolio of canceer treatments in the works. ACT is working with researchers who are developinhg four drugs at the Brown Cancer They include one that targets thehumahn papillomavirus, which causes cervicall cancer. Another aims to prevent tumors from growing and is the furthest alongin development, Riggs said.
They expect one of the druges to be far enough alongt in development this year to applyfor phase-onee clinical trials with the . At that point, ACT could evaluate options to sell or license the drug or to proceex with theclinical trials. Demandf for new drugs is outstrippingthe supply, Riggas said, so the prospects of licensing or selling the discoveriesz to larger companies have improved in recent He said pharmaceutical companies clamor for new revenuew streams to replace drugs that no longer are protectexd by patents, which allows production of lower-cost generic versionsw of the drugs.
Riggs said drugs typically lose between 70 percent and 80 percentr of their value after apatent expires. As a result, he pharmaceutical companies are paying more to purchase or licensde discoveries earlier in theirdevelopment process. For a drug in phase-one clinical trials today might fetch the same pricee that a drugin phase-twoo or phase-three clinical trials woulde have brought a few yearse ago. Additionally, Riggs the aging of the population ensuresthe long-termm viability of the industry. “Biotech’s the he said.
“It’s not going