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. 24.05.2019
    24.05.2019
    by      In
    Monash University’s Institute of Railway Technology (IRT) has signed a memorandum of understanding with the International Union of Railways (UIC), the worldwide professional association representing the railway sector and promoting rail transport.
    The memorandum was signed in Manila during the 2019... Read More
  2. 24.05.2019
    24.05.2019
    by      In
    New challenges are emerging as the global aerospace industry grows, and it often seems that production delays, manufacturing and materials shortages and counterfeit parts are keeping pace with advancements. Boker’s knows that aerospace original equipment manufacturers and their supply chains demand... Read More
  3. 24.05.2019
    24.05.2019
    by      In
    IPD has become the exclusive Australian distributor for AuCom Electronics, a Christchurch-based manufacturer of soft start technology and fixed speed motor control solutions. AuCom provides low to medium voltage starter solutions to suit almost any requirement in a variety of industry applications... Read More
  4. 23.05.2019
    23.05.2019
    by      In
    As a teenager, Gary Rush dreamed of driving in New Zealand’s Formula Atlantic open-wheel racing cars. Now, a generation later, he has realised his dream, driving in and winning the top single-seater award of the Matos Formula Libre Series.
    Rush won the Ultimate Echo Cup for finishing top of a field... Read More