06 Oct Quintessence Biosciences lands $170,000 contract for development of EVade technology
Madison, Wis. – Quintessence Biosciences today announced the receipt of a Phase 1 Small Business Innovation Research contract from the National Cancer Institute to support the development of next generation drugs based on the EVade Ribonuclease (RNase) technology. This new class of drugs works by a novel mechanism – the destruction of RNA.
The contract, worth more than $170,000, will provide funds to advance a second generation of EVade RNases. The new products will build off of the success of the first generation EVade RNases, which includes the current lead drug candidate QBI-139.
Work under the contract will monitor the effects of changing the pharmacokinetic profile of the drug. The pharmacokinetics of a drug refers to the fate of a drug once the drug enters the body, including how a drug is absorbed, distributed, metabolized, and excreted.
“While the financial support of the National Cancer Institute is valuable to a company like Quintessence, the award is also a significant external acceptance of the Evade RNases as a potential new cancer therapy,” said Quintessence Biosciences President Dr. Laura Strong.
About Quintessence Biosciences
Quintessence Biosciences is a private biopharmaceutical company focused on development of proprietary cancer therapies based on the EVade Ribonuclease technology. Quintessence’s first product candidate, QBI- 139, is anticipated to enter a Phase I clinical trial soon. The company also has a pipeline of other EVade Ribonuclease products in preclinical research.