Innovate UK Funds Lead Oncology Programme

Biopharmaceutical company PhoreMost’s oncology programme targeting mutant KRAS cancers has been awarded £1.4M (approximately $2.14M USD) from the UK’s innovation agency, Innovate UK, to develop its lead oncology programme targeting

Based on its proprietary Protein Interference technology, the Company has developed ‘Site-Seeker’, a next-generation phenotypic screening platform that can identify the best new targets for drug development and crucially, how to drug them. The funding will support identification of drug candidates to a novel synthetic-lethal target for KRAS through phases of lead optimisation and candidate selection, with a longer aim to create a drug that may be tested in human clinical trials.

“We are pleased to receive funding from Innovate UK in support of our lead programme,” commented Dr Chris Torrance, CEO of PhoreMost. “The expert reviews conducted by Innovate UK provide independent, competitive validation of our lead programme development strategy, and the award funds will support our business aims to create novel therapies for cancer patients who have limited treatment options.”

KRAS is one of the most commonly mutated genes in cancer: it drives disease initiation and progression, and is frequently a secondary event in ‘acquired’ resistance to new targeted therapies.  However, KRAS mutant cancers remain largely unaffected by the development of new targeted therapies. Each year, cancers with RAS mutations account for approximately 25,000 deaths in the UK and 120,000 in the U.S.