Mateon Therapeutics, Inc dedicated to development OT-101, a TGF-β antisense drug candidate, announced that Mateon has delivered the requisite testing results to Golden Mountain Partners (GMP) confirming the applicability and potential use of OT-101 for the treatment of COVID-19. OT-101 exhibited potent activity against both COVID-19 and SARS with a robust safety index of >500. This is in accordance with the Supplement Research and Services Agreement with GMP executed on March 23, 2020, and GMP has accepted the testing results.
Mateon has submitted a Pre-Investigational New Drug (Pre-IND) application package to the Food and Drug Administration to allow the referencing of OT-101’s oncology IND in order to streamline the IND submission for OT-101 against COVID-19. Mateon is expecting to complete the IND submission thereafter. The mechanism of action (MOA) for OT-101 against COVID-19 includes: 1) Inhibition of cellular binding, 2) Inhibition of viral replication and 3) Suppression of viral induced pneumonia. Based on OT-101’s MOA, Mateon anticipates that OT-101 would also be useful for future viral epidemics.
Amit Shah, CFO of Mateon stated: “I am excited about the potential use of OT-101 against COVID-19. I congratulate the Mateon team on achieving this important milestone and I look forward to working with GMP to bring this important therapeutic to fight against the current COVID-19 epidemic and future epidemics.”
Mateon was created by the recent merger with Oncotelic – a developer of TGF-beta RNA therapeutics- and PoinTR- a cluster computer vision empowered blockchain company creating an immuno-oncology company dedicated to the development of first in class RNA therapeutics as well as small molecule drugs against cancer. The founding team members of Oncotelic were responsible for the development of Celgene’s Abraxane as a chemotherapeutic agent for breast, lung, melanoma, and pancreatic cancer. Abraxane was approved in 2005 and has more than $1B in sales annually. The same team was also responsible for the development of Cynviloq, a next generation Abraxane, which was acquired by NantPharma for $1.3B. Mateon/Oncotelic is seeking to leverage its deep expertise in oncology drug development to improve treatment outcomes and survival of cancer patients with a special emphasis on pediatric cancer patients.