Life sciences investment company Medicxi has partnered with Starpharma for the formation of Petalion Therapeutics to develop dendrimer-based oncology treatments.
The collaboration leverages Starpharma’s DEP dendrimer platform technology. Medicxi is committing $25m for the development of a new drug candidate.
Go deeper with GlobalData
To be operated from the UK, the new company will initially focus on creating targeted dendrimer-drug conjugate therapies.
Starpharma’s contribution to the partnership includes licensing its intellectual property to Petalion in exchange for a 22.5% stake in the new company.
Starpharma will grant Petalion an exclusive licence for a specific target, receiving ordinary shares in return.
See Also:
Starpharma will offer research and development services on a fee-for-service basis.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataMedicxi’s investment in Petalion will be distributed in tranches, contingent on achieving scientific and technical milestones.
Starpharma CEO Cheryl Maley stated: “We are excited to announce this strategic partnership, which combines Starpharma’s expertise in developing dendrimer technology with Medicxi’s success in converting development candidates into high-value commercial assets.
“If successful, the oncology therapies that Petalion will develop have the potential to become an important treatment modality for a potentially wide range of cancer indications.
“This is just one of many ongoing efforts to prioritise the commercialisation of Starpharma’s DEP [diethyl phthalate] platform and our partnerships to advance the application of the DEP technology in high-value novel therapeutic areas.”
Dr Mehdi Shahidi, who has an extensive background in pharmaceutical drug development, has been appointed as Petalion’s CEO.
Shahidi stated: “Leveraging Starpharma’s world-leading technology and the scientific domain expertise from Medicxi’s asset-centric investment platform, our team at Petalion aims to develop best-in-class dendrimer conjugates with differentiated properties.
“Our ultimate goal is to cultivate a targeted dendrimer-based drug that can effectively address unmet needs in cancer.”
Medicxi’s portfolio company Versanis Bio. agreed to be acquired by Eli Lilly and Company last year.
