Australian company acquires novel anti-cancer drug technology

Sydney-headquartered life science group, the IQ Group Global, has announced the acquisition of an anti-cancer drug platform from the University of Texas, and plans to begin clinical trials of novel platinum-based chemotherapy drugs within the next 12 months.


The platform is named TEX Core, and is used to create MRI-detectable cancer therapeutics, with claimed benefits in specifically targeting and treating various kinds of tumours. According to a statement, OxaliTEX – the first treatment from TEX Core – “targets only solid tumor cells, activates within the tumor and overcomes drug-resistance mechanisms with minimal side effects.”


Pre-clinical research at University of Texas MD Anderson Cancer Center showed the drug localised to ovarian, lung and colon tumours.


Half of chemotherapy patients are treated through platinum-based drugs, which can have severe side effects and which patients can build a resistance to. 


“OxaliTEX provides new hope for ovarian cancer patients who are not responding to standard of care (SOC) therapies, as it has the ability to kill cancer cells even when tumors are advanced and platinum-resistant, which is unfortunately the case with most ovarian cancer diagnoses,” said Dr George Syrmalis, chairman and CEO of iQ Group.


Over 239,000 women are diagnosed with ovarian cancer annually, and only 45 percent survive past five years.


IQ Group will work with OxaliTEX researchers and inventors at MD Anderson, a cancer specialist facility, to begin clinical trials within 12 months. 


The iQ Group Global is an integrated collection of companies commercialising new drugs and, “spanning from corporate advisory and investment banking, through to research, development, commercialisation and sales.” Development of the newly-acquired TEX Core platform will be through IQ Group’s OncoTEX division with the US partners.




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