San Diego, California and Saffron Walden, UK: Invivoscribe, Inc., an industry pioneer and global leader in the field of precision diagnostics announces the launch of a fully integrated drug development engine. This new engine will combine with its in-house expertise in diagnostics development and worldwide access to patients and clinical testing capabilities to accelerate drug development.
Invivoscribe’s therapeutics division also announced today that the company has in-licensed technology involving a preclinical molecule and associated small molecules from Domainex Ltd. Domainex is a rapidly growing, well established integrated drug discovery service company in the UK that has utilized its novel, proprietary technologies to develop a first-in-class small molecule program against a difficult to target enzyme. Under the license agreement, Invivoscribe will develop and commercialize certain molecules generated by Domainex as oral immunotherapy agents to treat hematological malignancies, including acute myeloid leukemia. The overall financial aspects of the deal include an upfront payment and subsequent milestone payments based on various phases of drug development, regulatory submission and commercialization, including royalties on the resulting commercial products.
“The launch of Invivoscribe Therapeutics was an obvious next step for Invivoscribe. We have assembled an extraordinary team of drug development experts with decades of experience leading discovery, preclinical development, and directing pharmaceutical sciences. They are well versed in taking small molecules through all phases of candidate selection into human trials. They’ve joined our diagnostics, bioinformatics, and regulatory teams that have years of experience using our tests to assist pharma companies in getting their drugs approved worldwide, and our international network of LabPMM clinical laboratories with ready access to oncology patients. All of our interractions with Domainex have been extremely positive and we are impressed with the molecules they have discovered,” said Jeffrey Miller, CSO & CEO of Invivoscribe.
Dr. Tom Mander, CEO of Domainex, added, “This license agreement reflects the extensive capabilities of Domainex to generate molecules with therapeutic potential. We are delighted that Invivoscribe has decided to invest in moving the program through drug development ultimately to approval and commercialization. This deal is in keeping with our strategy to grow rapidly our drug discovery service business to enrich the pipelines of our partners. I want to thank all of our scientists who have worked on the program and acknowledge the support we have received along the way. I wish Jeff and his team every success with the program and the launch of their new division.”