Modern Biosciences (MBS) has entered into an exclusive licence and research agreement with The University of Manchester (“Manchester”) and The University of Salford (UK) (“Salford”) for the development of a new class of cancer drug. The deal is the first for MBS, whose model has been well received by research institutions across the UK.

Under the terms of the agreement with Manchester and Salford, MBS has exclusive worldwide rights to develop and commercialise a series of novel anti-cancer compounds discovered by Professor Alan McGown (Salford) and Dr. Kevin Flower (Manchester). These patented compounds have highly potent anti-cancer activity and appear to have a unique mechanism of action, showing greatly enhanced levels of activity in tumour cells that have developed resistance to existing platinum based agents whilst also retaining high levels of activity in non-resistant tumours.

MBS will manage and fund the development of the compounds and seek to commercialise them through an alliance with a pharmaceutical partner following proof of concept studies.

This is the first agreement that MBS has completed since signing a Memorandum of Understanding with The University of Manchester relating to the commercialisation of drug-related IP in March 2006. The University of Manchester is one of the leading centres for life science research in the UK. Many successful spin-outs have been formed from this institution including Neutec Pharma plc and Renovo Group plc.

MBS also announces today that it has appointed Professor Barry Furr as its Chief Scientific Adviser (Oncology). Professor Furr, who will advise on the program described today and other oncology programmes across MBS, was formerly Chief Scientist and Head of Project Evaluation at AstraZeneca Pharmaceuticals where he was responsible for the discovery and development of the anti-cancer drugs Zoladex and Casodex, used for the treatment of breast and prostate cancer. He was awarded an OBE in 2000 for services to cancer drug discovery.

Alex Stevenson, COO of MBS, said: “We are very pleased to have concluded this deal with the Universities of Manchester and Salford. The activity profile of these compounds is very exciting and, if the initial results obtained in the laboratory are translated into the clinic, they have the potential to make a significant impact on the treatment of cancer. Having signed an agreement with the University of Manchester relating to the commercialisation of drug-related IP, this deal is the next step in validating our business model. We are in advanced discussions with a number of other research institutions across the UK regarding the commercialisation of drug-related IP and expect to announce a number of similar deals over the coming months. We are also very pleased that Barry has joined the team. His expertise and experience in identifying and developing blockbuster drugs will be invaluable in maximising value as we grow our oncology portfolio.”

Clive Rowlands, Chief Executive of The University of Manchester’s IP company, UMIP, said: “The conclusion of this deal so soon after the MoU with MBS demonstrates the speed at which both MBS and UMIP can carry out due diligence and negotiate arrangements through to legals. The involvement with Salford has been a very positive experience.”

Rick Watson, Technology Manager, Academic Enterprise, Salford said: "We are very pleased to be partnering with Manchester and MBS on such an exciting project which further underlines Salford’s enterprising nature. We have high hopes of success with the world-class team MBS has assembled behind the project.