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. 16.08.2019
    16.08.2019
    by      In
    South Australian defence industry SMEs have won more than $8 million in funding from the Defence Innovation Hub to provide the Australian Defence Force with a capability edge.
    Federal Minister for Defence Industry Melissa Price says that this round of investments includes initial concept... Read More
  2. 16.08.2019
    16.08.2019
    by      In
    A new plasma coating for bone implants has been developed to help improve outcomes for patients by increasing the likelihood of an implant fusing to surrounding bone, and by reducing the chances of complications such as infection or rejection.
    An international research team, led by the University... Read More
  3. 16.08.2019
    16.08.2019
    by      In
    Communications company Motorola Solutions has appointed Con Balaskas as its new Managing Director for Australia and New Zealand. He has held multiple senior positions in a distinguished 20-year career with Motorola, and has played a pivotal role in the growth and expansion of the company’s managed... Read More
  4. 15.08.2019
    15.08.2019
    by      In
    Birdon America Inc, the US subsidiary of Port Macquarie maritime engineering and services company the Birdon Group, has been awarded two new contracts worth up to $575m, confirming its position as one of Australia’s foremost exporters to the US Departments of Defense and Homeland Security.
    One... Read More