Key Developments: Lorus Therapeutics Inc (LRUSF.PK)
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17 May 2013
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Latest Key Developments (Source: Significant Developments)
Lorus Therapeutics Inc Signs Research and License Option Agreement with Elanco
Lorus Therapeutics Inc announced that it has entered into a research and license option agreement with Elanco, the animal health division of Eli Lilly and Company, to investigate some of Lorus' compounds for veterinary medicine. According to the agreement, Elanco will fund the research program and has been granted an exclusive option to license the worldwide rights for selected compounds for veterinary use; the terms of which will be negotiated when the option is exercised by Elanco. Lorus retains the rights to develop and commercialize these compounds for human use. No further details of the deal were disclosed. Full Article
Lorus Therapeutics Inc Announces Issuance Of United States Patent For Cancer Therapy IL-17E
Lorus Therapeutics Inc announced that the United States Patent and Trademark Office has issued Lorus' patent for cancer therapy IL-17E. The US patent protects methods of treating cancer with IL-17E, both alone and in combination with anticancer therapy drugs including gemcitabine, paclitaxel, docetaxel, erlotinib, cisplatin, and bevacizumab. The patent covers the treatment of a wide range of cancers, including breast, lung, colon, pancreatic, gastric and ovarian tumors, as well as melanoma. Full Article
Lorus Therapeutics Inc Announces Dose Escalation Of Phase I Clinical Trial Of Lor-253 And Initiation Of Biomarker Clinical Study In Cancer Patients
Lorus Therapeutics Inc announced that its Phase I clinical study of LOR-253 has successfully escalated to the target dose level based on predicted and observed clinical effects without limitation by toxicity. The success of this study allows Lorus to initiate a biomarker clinical investigation to further explore the effects of the drug at relevant doses determined in the clinical trial. This Phase I clinical study program, conducted at Memorial Sloan Kettering Cancer Center in New York and the MD Anderson Cancer Center in Houston, has enrolled 27 patients in escalating doses who had advanced or metastatic solid tumors that were unresponsive to conventional therapy or for which no effective therapy is available. The drug has shown safety characteristics since it has safely escalated to more than 10-fold the starting dose. The biomarker study will enroll 10 patients eligible for pre- and on-treatment biopsies who have specific cancers prioritized for further clinical development of LOR-253. Lorus anticipates the further analysis and reporting of the biomarker findings in the second half of the year. The intratumoral biomarker evaluations in the biomarker study will include the KLF4 target of LOR-253. KLF4 is believed to play an important tumor suppressor function in the cell, which is depressed in cancers but expected to be restored or upregulated by the action of LOR-253. Full Article
Lorus Therapeutics Inc and Brock University Sign Collaboration Agreement to Develop Anticancer Drugs
Lorus Therapeutics Inc announced that it has signed a collaboration agreement with Brock University for the development of novel anticancer drugs based on chemical derivatives of the natural compound pancratistatin. Under the collaboration, Lorus will test the anticancer activity and drug-like properties of pancratistatin derivatives synthesized by Dr. Tomas Hudlicky's research group at Brock University. Lorus will contribute 50% of total eligible costs in the form of cash and/or in-kind contributions to the project, and will share jointly with Brock University in new intellectual property created from this collaboration. This collaborative partnership is made possible through funding from the Federal Economic Development Agency for Southern Ontario's Applied Research and Commercialization Initiative. Full Article
Lorus Therapeutics Inc Announces Positive Anticancer Data For IL-17E
Lorus Therapeutics Inc announced the presentation of new data to support the development of oncology product IL-17E at the 2012 American Association for Cancer Research (AACR) Tumor Immunology: Multidisciplinary Science Driving Basic and Clinical Advances Conference. The presentation provides an overview of recent preclinical studies conducted by Lorus to assess the anticancer activity and safety of IL-17E. The studies show that IL-17E significantly inhibits the growth of colon and melanoma cancers in animal models, with no apparent signs of toxicity. The animal models used provide both a more complete assessment of the safety of IL-17E, and confirmation of the efficacy of IL-17E at safe doses. The data presented show that IL-17E is active against colon and melanoma tumors that have the IL-17E receptor, and support development of IL-17E as a potential new and safe approach for treating these kinds of cancers. Full Article
Lorus Therapeutics Inc. Announces Issuance Of Canadian Patent For Anticancer Therapy IL-17E
Lorus Therapeutics Inc. announced that the Canadian Intellectual Property Office has issued Lorus' patent for its cancer immunotherapy agent, IL-17E. The Canadian patent protects the use of IL-17E to treat cancer, including many different solid tumors such as colon, breast, ovarian, pancreatic, and lung cancers as well as melanoma until 2026. The patent also covers treatment of these cancers with IL-17E in combination with several approved anticancer therapeutics, including Avastin (bevacizumab), Gemzar (gemcitabine), Tarceva (erlotinib), Taxotere (docetaxel), Taxol (paclitaxel) and cisplatin. Full Article
Lorus Therapeutics Inc. Closes $6.6 Million Private Placement
Lorus Therapeutics Inc. announced that it has completed its previously announced private placement (the Private Placement) of 20,625,000 units at a subscription price of $0.32 per unit, each unit (Unit) consisting of one common share and one common share purchase warrant for gross proceeds to Lorus of $6,600,000. Each warrant is exercisable for a period of 24 months from the date of issuance at an exercise price of $0.45 (the Warrants). PowerOne Capital Markets Limited acted as a finder in the financing and were paid a cash finder's fee equal to 6% of the gross proceeds of the Private Placement and were issued 1,237,500 finder's warrants at an exercise price of $0.32 each. Each finder's warrant is exerciseable into Units consisting of 1,237,500 common shares and 1,237,500 Warrants. The Company intends to use the net proceeds of the Private Placement to continue development of its research programs and for general and administrative purposes. Full Article
Lorus Therapeutics Inc. Increases Proposed Private Placement
Lorus Therapeutics Inc. announced that it has increased, subject to shareholder approval, the number of units expected to be issued in connection with its proposed private placement of units to a maximum of 20,625,000 units at a price of $0.32 per Unit for gross proceeds of up to $6,600,000 . Each Unit will consist of one common share of Lorus and one common share purchase warrant of Lorus. Each Warrant will entitle the holder to purchase one Share at a price of $0.45 for a period of 24 months following the closing date of the Private Placement. If after one year the closing price of the common shares on the Toronto Stock Exchange equals or exceeds $0.90 for 20 consecutive days, then upon the Company sending the holders of Warrants written notice of such Accelerated Exercise Date and issuing a news release announcing such Accelerated Exercise Date, the Warrants shall only be exercisable for a period of 30 days following the date on which such written notice is sent to holders of Warrants. PowerOne Capital Markets Limited will act as a finder in the financing and will receive a cash commission of 6% of the gross proceeds of the subscription amounts received from such finder's subscribers, and will also issue warrants to a finder to enable the finder to acquire Units equal to 6% of the Units sold to such finder's subscribers. The exercise price of the Finders Warrants is $0.32 per warrant and may be exercised for a period of two years from the date of issue. Full Article
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