Race Oncology Ltd (ASX:RAC) is trading higher after entering an exclusive licensing agreement to access US cancer research and treatment organisation City of Hope’s intellectual property (IP) which highlights bisantrene as a potent inhibitor of the human fat mass and obesity-associated protein (FTO).
City of Hope is one of the largest cancer research and treatment centres in the United States and a leading research centre for diabetes and other life-threatening illnesses.
Under the agreement, Race will exclusively secure rights to a City of Hope patent application and associated know-how identifying that bisantrene may be the most potent inhibitor of the FTO pathway.
The agreement builds engagement with City of Hope and the related opportunity for scientific collaboration as Race progresses its evaluation of bisantrene’s targeted impact on the FTO and m6A1 pathways.
Potent inhibitor of FTO
Race CEO and managing director Damian Clarke-Bruce said: “In 2020, City of Hope published research highlighting bisantrene as a potent inhibitor of FTO.
"This exclusive worldwide agreement secures access for Race to important IP associated with that work and opens exciting opportunities for us to collaborate closely with Professor Jianjun Chen and his research group.
"With the agreement in place, collaborative discussions regarding Race-sponsored research are now easier to facilitate. Moreover, this agreement secures a clear path for Race’s FTO research agenda.
"We are excited about further validating this targeted application for bisantrene."
Investors have welcomed the agreement with RAC shares as much as 7.31% higher on the ASX this morning to A$1.395.
New therapy
Bisantrene is a potent inhibitor of the Fatso/Fat mass and obesity-associated (FTO) protein.
Overexpression of FTO has been shown to be the genetic driver of a diverse range of cancers.
Race is exploring the use of bisantrene as a new therapy for melanoma and clear cell renal cell carcinoma, which are both frequent FTO over-expressing cancers.