Portage Biotech Announce Re-Launch of Adenosine Subsidiary as Independently Managed Company; Appointment of Peter Molloy to Lead New Company
Portage Biotech (NASDAQ: PRTG) announced the re-launch of its wholly-owned subsidiary as Cyncado Therapeutics, an independently managed company focused on developing adenosine receptor antagonists. Peter Molloy has been appointed as CEO of Cyncado, tasked with securing external financing and advancing the clinical development of A2a and A2b receptor antagonists.
The therapeutics are characterized by their potency, selectivity, and optimized binding characteristics, designed for dual administration to maximize synergy and achieve comprehensive blockade of immune evasion pathways in the tumor microenvironment. This approach aims to enhance the immune system's anti-tumor response and potentially transform immuno-oncology treatment options.
The re-launch strategy is part of Portage's commitment to unlocking asset potential and delivering shareholder value. Cyncado will focus on advancing clinical programs to achieve proof-of-concept data for its therapeutics in oncology.
Portage Biotech (NASDAQ: PRTG) ha annunciato il rilancio della sua controllata interamente posseduta come Cyncado Therapeutics, una compagnia gestita in modo indipendente focalizzata sullo sviluppo di antagonisti dei recettori dell'adenosina. Peter Molloy è stato nominato CEO di Cyncado, con il compito di assicurare finanziamenti esterni e promuovere lo sviluppo clinico degli antagonisti dei recettori A2a e A2b.
I farmaci terapeutici sono caratterizzati dalla loro potenza, selettività e caratteristiche di legame ottimizzate, progettati per un'amministrazione duale al fine di massimizzare la sinergia e ottenere un blocco completo dei percorsi di evasione immunitaria nell'ambiente tumorale. Questo approccio mira a potenziare la risposta anti-tumorale del sistema immunitario e a trasformare potenzialmente le opzioni di trattamento nell'immuno-oncologia.
La strategia di rilancio fa parte dell'impegno di Portage per sbloccare il potenziale degli asset e fornire valore agli azionisti. Cyncado si concentrerà sul progresso dei programmi clinici per ottenere dati di proof-of-concept per i suoi farmaci in oncologia.
Portage Biotech (NASDAQ: PRTG) anunció el relanzamiento de su filial de propiedad total como Cyncado Therapeutics, una compañÃa gestionada de manera independiente enfocada en el desarrollo de antagonistas de los receptores de adenosina. Peter Molloy ha sido nombrado CEO de Cyncado, encargado de asegurar financiamiento externo y avanzar en el desarrollo clÃnico de antagonistas de los receptores A2a y A2b.
Las terapias se caracterizan por su potencia, selectividad y caracterÃsticas de unión optimizadas, diseñadas para una administración dual con el fin de maximizar la sinergia y lograr un bloqueo completo de las vÃas de evasión inmunitaria en el microambiente tumoral. Este enfoque tiene como objetivo potenciar la respuesta anti-tumoral del sistema inmunológico y potencialmente transformar las opciones de tratamiento en inmuno-oncologÃa.
La estrategia de relanzamiento es parte del compromiso de Portage para desbloquear el potencial de los activos y proporcionar valor a los accionistas. Cyncado se enfocará en avanzar los programas clÃnicos para obtener datos de prueba de concepto para sus terapias en oncologÃa.
Portage Biotech (NASDAQ: PRTG)는 ì „ì•¡ ì¶œìž ìžíšŒì‚¬ì¸ Cyncado Therapeuticsì˜ ìž¬ì¶œë²”ì„ ë°œí‘œí–ˆìŠµë‹ˆë‹¤. ì´ íšŒì‚¬ëŠ” ì•„ë°ë…¸ì‹ 수용체 길í•ì œ ê°œë°œì— ì§‘ì¤‘í•˜ëŠ” ë…립ì 으로 ìš´ì˜ë˜ëŠ” 기업입니다. Peter Molloyê°€ Cyncadoì˜ CEOë¡œ 임명ë˜ì–´ 외부 ìžê¸ˆ ì¡°ë‹¬ì„ í™•ë³´í•˜ê³ A2a ë° A2b 수용체 길í•ì œì˜ ìž„ìƒ ê°œë°œì„ ì¶”ì§„í•˜ê²Œ ë©ë‹ˆë‹¤.
ì´ ì¹˜ë£Œë²•ì€ ê°•ë ¥í•œ 효능, ì„ íƒì„± ë° ìµœì í™”ëœ ê²°í•© íŠ¹ì„±ì„ íŠ¹ì§•ìœ¼ë¡œ 하며, ë©´ì— íšŒí”¼ ê²½ë¡œì˜ í¬ê´„ì ì°¨ë‹¨ì„ ë‹¬ì„±í•˜ê¸° 위해 ì´ì¤‘ 투여를 설계하였습니다. ì´ ì ‘ê·¼ë²•ì€ ë©´ì—ê³„ì˜ í•ì¢…ì–‘ ë°˜ì‘ì„ í–¥ìƒì‹œí‚¤ê³ ìž ìž¬ì 으로 ë©´ì—í•ì•” 치료 ì˜µì…˜ì„ í˜ì‹ 하는 ê²ƒì„ ëª©í‘œë¡œ 합니다.
재출범 ì „ëžµì€ ìžì‚°ì˜ ìž ìž¬ë ¥ì„ í™œìš©í•˜ê³ ì£¼ì£¼ 가치를 ì œê³µí•˜ê² ë‹¤ëŠ” Portageì˜ ì•½ì†ì˜ ì¼ë¶€ìž…니다. Cyncado는 종양학ì—ì„œ ì•½ë¬¼ì— ëŒ€í•œ ê°œë… ì¦ëª… ë°ì´í„°ë¥¼ 얻기 위해 ìž„ìƒ í”„ë¡œê·¸ëž¨ì„ ì¶”ì§„í•˜ëŠ” ë° ì§‘ì¤‘í• ê²ƒìž…ë‹ˆë‹¤.
Portage Biotech (NASDAQ: PRTG) a annoncé le relancement de sa filiale entièrement détenue sous le nom de Cyncado Therapeutics, une entreprise gérée de manière indépendante axée sur le développement d'antagonistes des récepteurs de l'adénosine. Peter Molloy a été nommé PDG de Cyncado, chargé de sécuriser le financement extérieur et de faire avancer le développement clinique des antagonistes des récepteurs A2a et A2b.
Les médicaments thérapeutiques se caractérisent par leur puissance, leur sélectivité et leurs caractéristiques de liaison optimisées, conçues pour une administration double afin de maximiser la synergie et d'obtenir un blocage complet des voies d'évasion immunitaire dans le microenvironnement tumoral. Cette approche vise à renforcer la réponse anti-tumorale du système immunitaire et à transformer potentiellement les options de traitement en immuno-oncologie.
La stratégie de relance fait partie de l'engagement de Portage à libérer le potentiel des actifs et à offrir de la valeur aux actionnaires. Cyncado se concentrera sur l'avancement des programmes cliniques afin d'obtenir des données de preuve de concept pour ses traitements en oncologie.
Portage Biotech (NASDAQ: PRTG) gab die Wiedereröffnung ihrer vollständig im Besitz befindlichen Tochtergesellschaft als Cyncado Therapeutics bekannt, einem unabhängig geführten Unternehmen, das sich auf die Entwicklung von Adenosinrezeptor-Antagonisten konzentriert. Peter Molloy wurde zum CEO von Cyncado ernannt und hat die Aufgabe, externe Finanzierungen zu sichern und die klinische Entwicklung von A2a- und A2b-Rezeptor-Antagonisten voranzutreiben.
Die Therapeutika zeichnen sich durch ihre Wirksamkeit, Selektivität und optimierte Bindungseigenschaften aus, die für die doppelte Verabreichung konzipiert sind, um die Synergie zu maximieren und eine umfassende Blockade der immunologischen Fluchtwege im Tumormikroumfeld zu erreichen. Dieser Ansatz zielt darauf ab, die antitumorale Reaktion des Immunsystems zu verstärken und potenziell die Optionen für die Immunonkologie-Therapie zu transformieren.
Die Relaunch-Strategie ist Teil des Engagements von Portage, das Potenzial von Vermögenswerten zu erschließen und den Aktionärswert zu steigern. Cyncado wird sich auf die Weiterentwicklung klinischer Programme konzentrieren, um Proof-of-Concept-Daten für seine Therapeutika in der Onkologie zu erhalten.
- Strategic restructuring of adenosine assets into independent entity potentially increasing value
- Appointment of experienced leadership with expertise in adenosine receptor biology
- Opportunity for dedicated external financing for adenosine programs
- Uncertainty regarding success in securing external financing
- No immediate revenue generation from clinical-stage programs
- Clinical development risks and uncertain timeline to proof-of-concept data
WESTPORT, Conn., Jan. 06, 2025 (GLOBE NEWSWIRE) -- Portage Biotech, Inc. (“Portage†or the “Companyâ€) (NASDAQ: PRTG), a clinical-stage immuno-oncology company with a portfolio of innovative therapeutics, today announced the re-launch of its wholly-owned subsidiary as an independently managed company focused on developing best-in-class adenosine receptor antagonists. Peter Molloy has been appointed Chief Executive Officer of the subsidiary, to be named Cyncado TherapeuticsTM, Inc.
As CEO, Mr. Molloy will lead efforts to secure external financing directly into Cyncado and to advance the clinical development of its portfolio of A2a and A2b receptor antagonists. These therapeutics are distinguished by their potency, selectivity, and optimized binding characteristics, designed to enable robust and sustained inhibition of immune suppression signals in the tumor microenvironment. Developed for dual administration to maximize synergy and achieve a more comprehensive blockade of immune evasion pathways, these therapeutics aim to enhance the immune system's ability to mount a robust anti-tumor response. This approach has the potential to transform immuno-oncology and deliver innovative, well tolerated treatment options for patients.
Peter Molloy, CEO of Cyncado Therapeutics, commented: “The adenosine pathway offers immense potential in immuno-oncology, and our A2a and A2b receptor antagonists are among the most promising therapeutics in development today. My confidence in these assets has only strengthened through the work we are conducting in the clinic. I am honored to lead Cyncado Therapeutics at this exciting juncture and am committed to advancing these programs toward proof of concept, with the goal of delivering meaningful benefits to patients.â€
Alex Pickett, CEO of Portage Biotech, added: “Portage remains committed to unlocking the full potential of its assets and returning value to its shareholders. We believe that re-launch as an independently managed company is the best way forward for Portage’s adenosine program. Peter Molloy’s broad experience in the biotech industry, deep expertise in adenosine receptor biology, and personal commitment to the assets will help him accelerate clinical progress at Cyncado and maximize the value of its innovative pipeline to Portage shareholders.â€
Cyncado Therapeutics is focused on advancing its clinical programs to achieve proof-of-concept data for its therapeutics, further establishing their potential as transformative treatments in oncology.
About Portage Biotech, Inc.
Portage Biotech is a clinical-stage immuno-oncology company advancing a pipeline of novel biologics to transform the immune system’s ability to fight cancer. For more information, visit www.portagebiotech.com.
About Cyncado Therapeutics
Cyncado Therapeutics, a wholly owned subsidiary of Portage Biotech, is advancing best-in-class small molecule adenosine receptor antagonists targeting A2a and A2b receptors for oncology indications. The initial focus is on dual administration of these two antagonists, a strategy that leverages complementary mechanisms to overcome immune suppression in the tumor microenvironment. This innovative approach aims to unlock synergistic effects and achieve a more comprehensive blockade of immune evasion, enhancing the immune system’s ability to combat cancer and improve patient outcomes.
Forward-Looking Statements
All statements in this news release, other than statements of historical facts, including without limitation, statements regarding the Company’s business strategy, plans and objectives of management for future operations and those statements preceded by, followed by or that otherwise include the words “believe,†“expects,†“anticipates,†“intends,†“estimates,†“will,†“may,†“plans,†“potential,†“continues,†or similar expressions or variations on such expressions are forward-looking statements. For example, statements regarding the potential benefits of Cyncado Therapeutics’ assets, the Company’s plans to secure financing, and anticipated progress in clinical development are forward-looking statements. As a result, forward-looking statements are subject to certain risks and uncertainties, including, but not limited to: the risk that the Company may not secure financing, the uncertainty of the Company’s ability to continue as a going concern, and other factors set forth in “Item 3 - Key Information-Risk Factors†in the Company’s Annual Report on Form 20-F for the year ended March 31, 2024 and “Business Environment – Risk Factors†in the Company’s Management’s Discussion and Analysis for the Three and Six Months ended September 30, 2024 filed as Exhibit 99.2 to the Company’s Form 6-K. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
For More Information:
Portage Biotech
Alexander Pickett, Chief Executive Officer
ir@portagebiotech.com
Cyncado Therapeutics
Peter Molloy, Chief Executive Officer
pmolloy@cyncado.com
FAQ
What is the purpose of Portage Biotech's subsidiary spin-off into Cyncado Therapeutics?
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