VANCOUVER, British Columbia and SEATTLE, April 23, 2019 (GLOBE NEWSWIRE) — Pascal Biosciences Inc. (TSX.V:PAS) (“Pascal” or the “Company”), a drug discovery and development company, today provided a corporate update for the first quarter of 2019.
“We’ve made significant strides since the start of 2019, and these advancements position Pascal well for the future,” said Dr. Patrick Gray, CEO of Pascal. “We have advanced our cannabinoid program into clinical testing, our glioblastoma program has made excellent progress, and we have deepened our corporate leadership, all to support the continued growth of this Company.”
First quarter highlights include:
Glioblastoma Program – Advancement Towards Clinical Trials
Great progress has been made for Pascal’s clinical candidate for glioblastoma, PAS-403, as it advances toward clinical trials. An efficient manufacturing process has been developed. Studies continue to support the use of PAS-403 for testing in glioblastoma patients: the compound is active against human glioblastoma cells in culture, accumulates in the brain, has a good safety profile against other targets, and has synergistic activity with standard of care in an animal model. A clinical plan has been developed for testing PAS-403 in glioblastoma patients.
Clinical – Testing of Cannabinoids in Human Subjects
In January, Pascal announced the initiation of testing of cannabinoids in human subjects for its immune stimulatory program in cancer. Pascal has extensively studied nearly 400 different cannabinoids in a variety of immune stimulatory assays and identified specific natural cannabinoids that have potent activity and a good safety profile. Pascal plans to extend these studies during 2019 with a potent cannabinoid to evaluate immune stimulatory activity.
Patents – Filing of international patent for further therapeutic indications
In January, Pascal filed an international patent to protect its discoveries around certain cannabinoids that increase the immunogenicity of cancer cells. This patent application is covered by the Patent Cooperation Treaty that includes 151 countries and covers all major pharmaceutical markets worldwide.
Partnering – Partnership with MITACS for multi-year research project
In March, Pascal announced a partnership with Mitacs for a multi-year cancer research project at the University of British Columbia. Mitacs, a not-for-profit organization that fosters growth and innovation, will provide equal funding for research efforts at UBC that will directly support Pascal’s leading cancer development programs. The research project will be directed by Dr. Wilfred Jefferies at the Michael Smith Laboratories at UBC. Dr. Jefferies, the scientific founder of Pascal, was the first scientist to discover specific cannabinoids that can increase the immune recognition of both mouse and human cancer cells. The project will support the ongoing advancement of the PAS-393 program, which the Company believes may enhance the effectiveness of checkpoint inhibitors.
Leadership – Appointment of Carl Weissman
In April, Pascal announced that biotech industry veteran Carl Weissman has joined the Company in the role of acting President. Weissman most recently served as a biotech investment advisor for Lightspeed Venture Partners. His prior experiences include serving as consulting CEO of OSS Healthcare, a joint venture of MPM Capital and Novartis Oncology and co-founder, CEO and chairman at Accelerator Corporation, as well as all 10 companies invested in and managed by Accelerator. He also previously served at MPM Capital, Centagenetix and Prolinx, Inc.
About Pascal Biosciences Inc.
Pascal Biosciences is a biotechnology company focused on advancing innovative approaches for the treatment of cancer including cannabinoid-based therapeutics and targeted therapies. The company’s leading portfolio comprises a small molecule therapeutic, PAS-403, that is advancing into clinical trials for the treatment of glioblastoma, and PAS-393, an immuno-stimulatory cannabinoid to be used in combination with checkpoint inhibitor therapy. In addition, Pascal Biosciences is developing a B-cell targeted antibody for acute lymphoblastic leukemia. For more information, visit www.pascalbiosciences.com.
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