TORONTO, Ontario – Precision Proteomics, a pre-clinical stage biotechnology company commercializing a novel precision medicine platform, announced its launch today.
The company will focus on accelerating the development of novel diagnostics and therapeutics based on groundbreaking proteomics technology pioneered by Shawn Li, PhD, an oncology professor and researcher at Western University’s Schulich School of Medicine & Dentistry.
Proteomics is the large-scale study of proteins, particularly their structures and functions. This new precision medicine platform focuses on the development of novel diagnostics to enable more precise utilization of therapies, and novel cancer therapeutics to overcome resistance.
The company’s development activities will be facilitated by the recent completion of a CDN$1M round of financing, which was led by Sino Western Bridge and Novatio Ventures, two Canadian life science investment firms that will also be providing executive management support to Precision.
“Precision medicine is the new paradigm for drug development and disease treatment. However, a significant unmet need in the field today is that the state of activation of key cellular signaling pathways that drive disease development and progression cannot be readily or systematically profiled, especially in a clinical setting,” said Li, Precision’s Scientific Founder and CEO. “Rather than using surrogate measures such as mutation status or protein expression to infer signaling pathway activation, we now have the ability to directly and quantitatively profile signaling pathway activations globally, with methodologies that can be adapted for clinical use. Our methodologies are also useful in efficiently deciphering the proteomic reprogramming that occurs when diseases become resistant to therapy and we have already discovered novel targets that may drive these processes.”
The foundation of Precision’s technology is a set of proprietary probes and methods that enable the systematic profiling of the activation of phosphotyrosine signaling pathways at a resolution and depth previously unattainable. Aberrant phosphotyrosine signaling has been shown to be a key driver of disease development and a determinant of patient response in a variety of diseases, including cancer (e.g., lung, ovarian, breast, colorectal, prostate, melanoma, and leukemia), diabetes, autoimmune diseases, and neurological disorders. Phosphotyrosine profiling using Precision’s technology provides key insights into the mechanisms of pathogenesis, susceptibility to therapy, tumor and immune system response to immunotherapies, and development of resistance to therapies.
“The medical advancements developed by Dr. Li and his collaborators are a potential game changer in terms of more precise care for patients. The licensing partnership between Precision Proteomics and WORLDiscoveries at Western provides the framework for Precision to pursue innovations and breakthroughs as we have great confidence in Dr. Li, his collaborators and our industry partners,” said Lisa Cechetto, Executive Director of Western’s WORLDiscoveries.
Precision’s technology enables the discovery and validation of novel therapeutic targets and candidates in parallel with the development of companion diagnostics for the precise and effective utilization of both targeted therapies and immunotherapies. The company is actively building research and development partnerships with biopharmaceutical companies globally in respect of approved and emerging therapies, and will at the same time advance proprietary programs based on its discovery of novel therapeutic targets in certain cancers with high unmet need.
“It is clear that Precision’s technology has the potential to drive further advancements in personalized and precision medicine,” said Peng Fu, Founder and CEO of Novatio Ventures. “We have already generated interest from key industry players and look forward to working closely with Dr. Li to secure key partnerships and execute the company’s development and commercialization strategy.”
“We are very proud to be supporting Precision in carrying forward Dr. Li’s groundbreaking work,” said Jordan Pi, Managing Director of Sino Western Bridge. “We look forward to working with the company in realizing the potential of its technology to help achieve better patient outcomes in this new era of personalized and precision medicine.”
About Precision Proteomics
Precision Proteomics is a pre-clinical stage biotechnology company commercializing a novel platform for the development of next-generation precision medicines. Precision was created to apply cutting-edge proteomics to the development and clinical utilization of therapeutics. Precision’s technology can systematically and quantitatively profile activations of key signal pathways that drive pathogenesis and the development of resistance to therapy. The company is actively building research and development partnerships with biopharmaceutical companies globally in respect of approved and emerging therapies, and will at the same time advance proprietary programs based on its discovery of novel therapeutic targets in certain cancers with high unmet need. Precision Proteomics has offices in London, Ontario and Toronto, Ontario.
About Western University
Western University delivers an academic experience second to none. Since 1878, The Western Experience has combined academic excellence with life-long opportunities for intellectual, social and cultural growth in order to better serve our communities. Our research excellence expands knowledge and drives discovery with real-world application. Western attracts individuals with a broad worldview, seeking to study, influence and lead in the international community.
About Novatio Ventures
Novatio Ventures is an early-stage, life science investment firm that creates and invests in companies that develop and commercialize high-potential, high-impact innovations arising from Canada, China, South Korea, and other markets that represent a significant source of opportunities for outsized value creation. Novatio is based in Toronto, Boston, and Hong Kong. For more information, visit www.novatioventures.com
About Sino Western Bridge
Sino Western Bridge is an angel investment firm focused on early stage life science and information technologies. Sino Western Bridge invests primarily in Canadian companies for which it can add value through direct involvement in management. Sino Western Bridge is based in London, Ontario.
Source: Western News