Alliance Opens New Market for Medisyn and Expands Humanetics’ Ability to Deliver Non-Prescription Oral Agents
MINNETONKA, MN, October 20, 2005 - Medisyn Technologies, Inc., a drug discovery company, and Humanetics, a Twin Cities-based biotechnology company, today announced that they have entered into a multi-year strategic alliance. Terms of the agreement were not disclosed.
The two companies will work together to accelerate the discovery and development of natural, non-prescription compounds focused on disease prevention. The contract calls for Medisyn to provide an exclusive pipeline of natural compounds to Humanetics and for Humanetics to invest in the requisite clinical development program to gain FDA approval for qualified disease prevention claims.
The alliance opens a new market niche for Medisyn that offers the advantage of a faster time-to-market than traditional new drug development and thus provides nearer-term revenue potential for the company. Humanetics gains access to Medisyn’s Fast Forward Engineering® platform-- the company’s proprietary technology that significantly increases the accuracy and speed with which new compounds are discovered. The access to Medisyn’s proprietary methodology greatly enhances Humanetics’ ability to develop protectable, efficacious and safe, oral agents—a central goal for Humanetics.
According to Medisyn’s President, David Land, “For Medisyn, this alliance is all about applying our Fast Forward Engineering technology in a new market niche that offers a vastly compressed timeframe for bringing qualified products to market.” Land added “Medisyn’s entry into natural, non-prescription therapeutics is being launched in parallel with the company’s existing development work for traditional pharmaceutical customers.” Medisyn currently is working with both pharmaceutical and biotechnology companies to sharpen and streamline their discovery initiatives, primarily in cancer treatment. The company also is engaged in a long-term collaborative research project with the University of Minnesota’s Academic Health Center.
A Faster Path and Better Candidates
Both Medisyn and Humanetics hope that by creating a constant stream of pre-qualified compounds, Humanetics can both accelerate and broaden its product development pipeline. The first areas of focus for partnership will be to identify compounds that can offer safe, natural therapeutic options in the areas of obesity, immune system and cognitive function.
The process of developing science-based solutions requires independent validation, including FDA review and approval, in order to make specific qualified health claims. Humanetics is committed to support this effort with rigorous clinical trials that measure the safety and effectiveness of each natural compound in achieving a specific disease prevention benefit.
By working together, Medisyn hopes to quickly identify a larger pool of better-qualified candidates—enabling Humanetics to advance these through clinical trials and the FDA review process.
“Our success depends, in part, on our ability to validate the health benefits of our products through clinical trials,” explained John Dykstra, Chief Operating Officer at Humanetics. “Medisyn will provide an ongoing selection of compounds that we know meet certain specifications and have a higher probability of being effective,” he said. “This partnership is unique in our market space and should provide us with a significant competitive advantage for accelerating our discovery process,” he added.
About Humanetics Corporation
Founded in 1988, Humanetics Corporation is a privately held biotechnology company focused on providing proprietary, science-based solutions to consumer health and aging concerns. Based in the Minneapolis metropolitan area, Humanetics pursues this mission through the discovery, development and commercialization of naturally occurring, nonprescription oral agents focused on disease prevention. For more information, visit www.humaneticscorp.com.
About Medisyn Technologies
Medisyn Technologies is a unique drug design and discovery company that uses proprietary technology to make drug discovery faster, more predictable and less expensive. Based on molecular topology, Medisyn’s Forward EngineeringTM platform enables the discovery and design of novel, diverse and unexpected compounds that meet exact parameters for a specific therapeutic use. By compressing design and discovery time from years to weeks and optimizing lead candidates, Medisyn’s novel approach enables drug discovery customers to reduce risk, improve probability of success and control costs associated with the traditional lead discovery process. The company is initially focused on treating cancer and is currently completing pre-clinical validation of MT103, a promising lead candidate for non-small cell lung cancer. It has an additional 26 anti-cancer compounds in varying stages of development. Medisyn Technologies is headquartered in Minneapolis, MN. For more information about Medisyn Technologies, visit the company’s website at: www.medisyntech.com or call 952.475.8084.