12-year-old Louie the beagle had little time left once the vet diagnosed his lymphoma. To avoid the side effects of steroids and chemo, his parents took a chance on biotech company PharmAust’s (ASX: PAA) monepantel (MPL) drug. Within a few weeks, Louie’s lymph nodes shrunk and he enjoyed a good quality of life. Today, he is going strong having surpassed 300 days with stable disease. Louie has managed to live beyond the typical duration of the disease, and he is not the only canine to benefit from the drug. That makes a great case for PharmAust’s anti-cancer drug, which has recently found that the drug can have great advantages for humans, too.
PharmAust is a clinical-stage biotechnology company, conducting studies at the Olivia Newton-John Cancer Research Institute, Heidelberg, VIC, Australia, associated with the anti-cancer mechanism of action of monepantel (MPL).
According to the report, MPL can halt the multiplication of various cancer cell types. Apoptosis, which causes cell death, is one way in which this occurs. The drug can also prevent cell reproduction by interfering with the cell cycle even when apoptosis does not take place.
PharmAust Executive Chairman, Dr Roger Aston commented, “This analysis of the mechanisms of action of MPL in conjunction with its very low toxicity offers a potential new paradigm in the regulation and management of cancer.”
The published paper titled “Induction of endoplasmic reticulum stress is associated with the antitumour activity of monepantel (MPL) across several cancers types” reports that MPL exhibits a wide range of activity against solid cancer cell lines. The study indicates that MPL could be beneficial in instances where standard treatments are ineffective due to its potential to combat drug resistance.
Furthermore, previous studies have indicated that MPL may induce autophagy, a different form of cell death. However, the latest research discovered that autophagy is not a prerequisite for MPL’s efficacy. Upon analysing the genes in cancer cells subjected to MPL treatment, the researchers observed that the drug suppressed genes involved in cell division while activating genes associated with the stress response for apoptosis.
Researchers have found how MPL fights cancer by identifying its probable mechanism of action. The data suggest that MPL stops cell division and triggers apoptosis through cellular stressors by targeting mTOR signalling, the cell cycle, and autophagy.
In Q3 FY23, the Company’s cash equivalents fell from over $2 million in the previous quarter to $1.2 million as it spent big on producing the MPL tablets. Worried about running out of cash, it requested a trading halt to raise capital, and soon after, on May 3, it raised $2.5 million through an oversubscribed placement to institutional and sophisticated investors. A total of $2.4 million was placed to institutional and sophisticated investors while directors of the Company have subscribed for an additional $104k, subject to shareholder approval.
Placement funds will be used for the preparation for upcoming human trials, further manufacture of additional MPL tablets for human and canine trials and to strengthen working capital. If all goes well, the Company will start its process towards getting official approvals to commercialise the drug.
Alinda is a Business Reporter for The Sentiment
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