agt expands patent

  1. 4,756 Posts.
    August 19, 2003


    Australian biotechnology company AGT Biosciences Limited (ASX: AGT) announced today that it has expanded patent protection covering its discovery PARL (previously called AGT203) to include cancer, age-related degeneration and other diseases.

    Recent research from the University of Cambridge (UK) published in the leading international journal Nature shows that PARL is critical in maintaining mitochondrial function and integrity. Mitochondria are responsible for creating more than 90% of the energy needed by the body to sustain life and support growth.

    Given the critical role of mitochondria in diseases such as diabetes, muscular disorders, cancer and age-related degeneration, PARL has significant potential as a target for novel therapeutics against a range of diseases.

    AGT Biosciences Professor Collier is excited by the developments. "This major discovery expands our existing position. It opens new revenue possibilities for the company. AGT Biosciences is already in negotiations with a major international pharmaceutical company to explore the possibility of developing PARL as a new anti-cancer lead. The global anti-cancer cytotoxics market is worth more that US$ 7 billion annually and there is a lot of competition between industry players for new leads."

    "PARL is a Serine Protease - a class of proteins that is well recognised as being 'druggable'. In cancer research there are numerous drug leads in development that are based on inhibiting the action of these proteins. We believe that there is real scope for a novel therapeutic based on our discovery."

    About AGT Biosciences

    AGT Biosciences is a listed company with a focus on research and development that uses gene discovery techniques to identify and validate genetic targets for drug development by pharmaceutical companies. It generates revenues through its licenses and strategic partnering.

    Contact details:
    Professor Greg Collier: 0419897501
    Dr James Campbell: 0411 670 561


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