none

PRELIMINARY BID FOR AUSSIE CANCER DRUG

01-03-2018
by 
in 

International pharmaceuticals company Merck has made an aquisition bid for Aussie firm Viralytics, after their drug Cavatak showed promising results in preliminary treatments. 

Viralytics CEO Malcolm McColl said the drug was actually a type of common cold virus that had been found to kill cancer cells, and that Cavatak was most effective when used in conjunction with Merck's immune-boosting drug Keytruda.

As a company, Viralytics centers is research around the development and commercialisation of treatments that harness the power of specific viruses to infect and kill cancer cells.

"The way we tackle cancer now is quite different to ten years ago," said McColl.

"People are looking to turn the patient's immune system against the cancer and that's really what Cavatak is doing."

Even before completion of the bid, trials have begun for testing Cavatak with Merck's Keytruda to treat melanoma, prostate, lung and bladder cancers.

Investors and the Viralytics board have positive views on the bid, viewing it as a strong opportunity for the Australian-based Viralytics to expand its reach and impact. 

"It's a good deal but we have done the hard yards on this company," said Troy Cairns, director of Viralytics investor Quest. 

"It's valuable, but its not easy to to commercialise things in Australia, and Merck is a good partner."

"Merck has done a lot of diligence on the program both in terms of the clinical and manufacturing data and are obviously fully satisfied and convinced that there's a great potential for Cavatak to help cancer patients," Mr McColl said.

 

Related news & editorials

  1. When PMFV is applied through two stage technology models it can provide up to 50% increased efficiency over conventional compressor types.
    24.02.2021
    24.02.2021
    by      In , In
    The restrictions that COVID-19 placed on us from 2020,  is a wake up call on export and import reliance for many industries. 
    We can continue as we were and hope for a slow progress to recovery or learn some important lessons in adaptability to the current and future business environment with... Read More
  2. Scott Philbrook, ANZ Managing Director, RS Components
    24.02.2021
    24.02.2021
    by      In , In , In
    Covid-19 seriously disrupted supply chains throughout industry worldwide. Scott Philbrook, Managing Director RS Components Australia, explains today’s necessity for supply chain resilience and continuity.
    The Institute of Supply Management reported that in March, at the start of the pandemic, 75%... Read More
  3. Applications are now open for the Federal Government’s $1.3 billion Modern Manufacturing Initiative.
    23.02.2021
    23.02.2021
    by      In , In
    Applications are now open for the Federal Government’s $1.3 billion Modern Manufacturing Initiative.
    The program aims to boost manufacturing and grow jobs, with businesses in the burgeoning space sector the first to be eligible to apply for grants, to help them commercialise ideas or processes, or... Read More
  4. Holloway Group Managing Director Matt Holloway sees 2021 as the perfect time to embrace the opportunities and benefits presented by manufacturing in Australia.
    23.02.2021
    23.02.2021
    by      In , In
    As the economy recovers from an unprecedented 2020, there is a renewed focus from government and industry to bolster the local manufacturing sector through both innovation and onshoring production.
    At its height, Australian manufacturing accounted for roughly 25 per cent of Australia’s Gross... Read More
Products
Suppliers