Panacea Announces Collaboration With MIT

panacea-pharmaceuticals, Inc. has signed a Collaborative Research Agreement with researchers at the (MIT) in Cambridge, Massachusetts covering the development of all-human, ultra-affinity, single-chain antibodies for its cancer platform technology.

The research group is led by K. Dane Wittrup, Ph.D., J.R. Mares Professor of Chemical Engineering and Bioengineering at MIT. Dr. Wittrup stated, “We are excited to be collaborating with Panacea to develop these novel molecules. Panacea’s cancer technology provides an extraordinary treatment and diagnostic approach that is well-suited to utilize all of the diverse applications of our technology.”

The Company’s cancer platform technology is based on the enzyme aspartyl asparaginyl-Beta hydroxylase (AAH), which the Company has an exclusive worldwide license from Rhode Island Hospital/Brown University.

AAH’s utility as a drug target has been shown in published studies, which have demonstrated that the over expression of AAH leads to the transformation of normal cells to cancer cells in liver, brain, colon, pancreatic, and breast cancers.

“We have now set into action a multi-tiered approach to developing drugs for our cancer platform technology, namely the development of novel antibody drugs, traditional small molecules, and antisense oligonucleotides that treat disease at the gene,” stated Kasra Ghanbari, Chief Operating Officer of the Company.

Panacea Pharmaceuticals, Inc. focuses on developing and utilizing protein-based technologies to detect and identify changes associated with and involved in diseases of the central nervous system and cancer such as ‘s disease, brain tumors, transmissible spongiform encephalopathies, and Lewy body diseases such as Parkinson’s disease.

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