Patrys' (PAB: $0.024) lead drug antibody drug candidate, PAT-DX1, has passed the final manufacturing assessment meeting all of the specification requirements. This allows Patrys to move into final preclinical toxicology testing ahead of the first clinical study planned for the second half of 2023.
The improved manufacturing process also comes with an improved product yield. The manufacture of antibodies is a challenging, expensive and lengthy process. However these challenges are offset in clinical development with a higher probability of meeting clinical efficacy due to the specific binding nature of monoclonal antibodies, which also comes with fewer side effects due to lower, unwanted off target effects.
Patry's antibody portfolio has some intriguing characteristics which includes natural attraction to tumour cells (to the DNA secreted by tumour cells), the ability to enter the cell nucleus and destabilize the DNA repair mechanisms, and the ability to cross the blood-brain-barrier. There will be considerable interest in this clinical program, with the company seeking to generate partnering interest potentially before the study begins.
Patrys is capitalised at $49 million.
Bioshares recommendation: Speculative Buy Class B
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