SIOGEN Biotech and Veeda Clinical Research Announce a Strategic Partnership to Develop a New Nanoparticle Formulation of Doxorubicin to Treat Cancer
Minister of Science, Technology and Innovation of Malaysia hails the agreement as further step forward in the development of the Malaysian biotechnology industry
2010 BIO International Convention
CHICAGO--(BUSINESS WIRE)--SIOGEN Biotech (Kuala Lumpur, Malaysia), an innovative leader in the field of silicon-based nanoparticle drug delivery and targeting, and Veeda Clinical Research (Ahmedabad, India), a global clinical research organisation, signed today at the BIO conference in Chicago a strategic partnership agreement to develop a new nanoparticle formulation of Doxorubicin to treat cancer.
"Following extensive Government investment in our growing biotech sector, this agreement is a showcase of the enormous talent found in Malaysian companies and underlines the growing importance of the Malaysian Biotechnology industry in the global arena."
The Minister of Science, Technology and Innovation of Malaysia, Datuk Seri. Dr. Maximus Johniti Ongkili was present to witness the signing of the deal, highly significant in the progression of the Malaysian biotechnology sector.
Under the terms of the agreement, SIOGEN will use its patented Siosomes® drug delivery and targeting technology to encapsulate Doxorubicin, a drug used for cancer treatment, and Veeda will undertake Phase I/II clinical trials of this formulation.
Doxorubicin is an established drug, which is used in chemotherapy for the treatment of leukemias, lymphomas and other cancers. In the past, pegylated liposome formulations of doxorubicin presented with adverse side effects that limited their dosage and efficacy. Encapsulation of Doxorubicin in Siosomes® is designed to increase efficacy of the drug through targeted delivery to the site of disease and decrease adverse effects by lowering the exposure of the drug to the tissues and cells.
Commenting on the partnership, Dr Shermal Perera, Managing Director of SIOGEN said: "We are delighted to enter into a strategic partnership with Veeda Clinical Research for the encapsulation of Doxorubicin. This partnership will allow us to explore the advantages of our proprietary Siosomes® technology for the targeted delivery of chemotherapeutic compounds. Our agreement with Veeda will capitalise on their significant clinical expertise to advance this product beyond the phase I/II clinical trials."
Dr Maurice Cross, Group Medical Director of Veeda Clinical Research reflected that this agreement demonstrated the changes which are occurring in the nature of Clinical Research Organisations such as Veeda. He said: "In the past were merely providers of trials services, now we have to bring additional value to our client relationships. One way we can do this is by embracing innovative technologies such as that offered by SIOGEN and offering them to our own client base as solutions to their problems. Thus we become brokers of scientific technology and bring something quite new to the table."
Datuk Seri Dr. Maximus also commented: "Following extensive Government investment in our growing biotech sector, this agreement is a showcase of the enormous talent found in Malaysian companies and underlines the growing importance of the Malaysian Biotechnology industry in the global arena."
NOTES TO EDITORS
About SIOGEN Biotech
SIOGEN Biotech, a world leader in the production of silane-based nanoparticles, has developed Siosomes® as flexible vesicles for the targeted delivery of drugs and other compounds and substances. It is applying its nanoparticle technology to reduce side effects and increase efficacy of existing and developmental drugs. Siosomes® are nanoparticle vesicles consisting of two or more concentric, organo-silicon layers based on the Silane (SiH4) general structure. These can be manufactured in different sizes, dependent on use and requirements, ranging from 40nm - 1500nm in size. SIOGEN welcomes enquiries from potential partners that have problem compounds, for which the Siosomes® delivery technology can address toxicity, extend half-life, improve targeting, or provide new routes of administration. The Company is a privately financed technology company, located in Kuala Lumpur, Malaysia, with a research centre in the UK and manufacturing facilities in Germany.
About Veeda Clinical Research
Veeda Clinical Research® is a leading CRO which brings together over 20 years of clinical research expertise to deliver a unique service offering which combines the quality and experience of the West with the intellectual ability and tireless work ethic of the East. Veeda CR was formed in 2005 and through a program of strategic acquisition and inward investment Veeda CR has expanded its facilities to include Clinical Pharmacology Units in the UK and India, state-of-the-art Laboratories in Plymouth, UK and Ahmedabad, India and an established Biometrics team located in Belgium and India. Veeda CR's primary focus is to offer Clients an integrated, cost effective early clinical development service delivered with an uncompromising commitment to quality.