The NEOMED Institute, a Montreal-based R&D institute, has spun off its first company in advance of clinical trials to test a new therapy for several cancers, including brain, breast, lung and leukemia. NEOMED Therapeutics 1 Inc. is seeking to raise funds to advance its lead molecule – NEO2734 – through human clinical trials beginning early 2019 and to progress its clinical biomarker program.
NEOMED licensed the original technology in 2014 from privately-held Epigenetix Inc. which was founded on research developed by Dr. Claes Wahlestedt, associate dean and centre director for Therapeutic Innovation at University of Miami Miller School of Medicine.
NEOMED has also appointed Christine Lennon as its president and CEO to lead the firm’s transition from an epigenetic inhibitor program to a clinical stage company. Lennon has held a number of leadership roles in large pharma, biotech and in venture capital, most recently at Novartis Oncology in Canada and in Europe, Shire and Neurochem (now Bellus Health).
Both privately-held Miami, Florida-based Epigenetix Inc and NEOMED Institute will be founding shareholders in NEOMED Therapeutics 1.