CureLab Receives $3M from Prominent Biotech Investor Dr. John Ballantyne

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Mar 02, 2023, 07:00 ET

Ballantyne is the co-founder and former chief scientific officer of Aldevron, a leading manufacturer of plasmids and other biologicals

BOSTON, March 2, 2023 /PRNewswire/ -- The co-founder of Aldevron, Dr. John Ballantyne, has invested $3M in CureLab Oncology and CureLab Veterinary. The two sister companies have developed an anti-cancer and anti-inflammatory drug that was contract-manufactured by Aldevron at the time Dr. Ballantyne served there as chief scientific officer. The investment positions both companies to attain the R&D milestones needed to secure additional rounds of funding.

Both CureLab Oncology and CureLab Veterinary are developing therapies that employ plasmids (circular DNA encoding a gene called p62/SQSTM1). CureLab Oncology is applying the p62 plasmid to treat human cancers. Following impressive clinical data presented at the European Society for Medical Oncology Congress in Paris, and the considerable ongoing progress of the company's clinical studies, the funds will enable CureLab Oncology to ramp up toward FDA-monitored clinical trials for triple-negative breast cancer and platinum-resistant ovarian cancer in 2023.

"I have been observing the CureLab journey since Aldevron produced the very first batch of their product. I have witnessed the CureLab team growing and evolving, obtaining patent protection around the world, and keeping an eye on their pre-clinical and clinical progress. The team and the strength of their recent clinical data is what made me want to invest," said Dr. John Ballantyne.

"Distributing Dr. Ballantyne's investment among the two companies will greatly reduce the R&D risks for both CureLab Oncology and CureLab Veterinary," said Dr. Alexander Shneider, CEO of CureLab Oncology.

The research activities of the two CureLab sister companies are highly synergistic. The data obtained in real-life veterinary settings, in pets, serves as a much stronger predictor for human clinical trials than experiments conducted on laboratory animals. For example, if CureLab Veterinary demonstrates that the product is effective in the treatment of canine osteoarthritis or inflammatory bowel syndrome, both of which are highly prevalent among dogs, CureLab Oncology could extend its clinical programs to treat these pathologies.

For the treatment of domestic animals, CureLab Veterinary received positive clinical results in 10 out of 11 dogs diagnosed with breast cancer. The company is looking to take its patented p62 plasmid technology through the USDA-CVB process with a view to marketing new anti-cancer and anti-inflammatory technologies for use by veterinarians.

"As an industry leader in both thought and action, I am pleased that John has decided to support our efforts to bring innovative animal technology through the US approval process," said Robert Devlin, president of CureLab Veterinary. "Through his generous support, we hope to help many animals and bring joy to pet owners worldwide."

CureLab Veterinary is currently engaged in a crowdfunding effort with Netcapital.

About Elenagen

CureLab's lead investigational compound is code-named Elenagen, an experimental DNA therapy that consists of a circular piece of DNA called a plasmid that includes a gene for a human protein called p62/SQSTM1. In animal studies and Phase I/II human trials conducted ex-US, Elenagen demonstrated promise in reversing tumor grade, changing the tumor microenvironment, and enhancing the anti-cancer effects of chemotherapy. Experimental results also indicate mitigation of chronic inflammation and stimulation of an immune response to the tumor.

About CureLab Veterinary

Today, our four-legged family members are living longer than ever. Unfortunately, with this longer lifespan, our furry friends now are experiencing many of the same cancers and diseases due to chronic inflammation as their pet parents. CureLab Veterinary, a sister company of CureLab Oncology, is dedicated to bringing advanced therapies to treat cancer and inflammatory diseases to support better pet health and longevity. To learn more, visit curelabveterinary.com.

About CureLab Oncology

CureLab Oncology Inc. is a pre-IPO, clinical-stage immuno-oncology biotech company headquartered in the greater Boston area, Massachusetts. CureLab is dedicated to advancing new and safer therapeutics for solid tumors and other oncology and inflammatory indications. To learn more, visit curelab.com.

Media contact:
Tim Cox, ZingPR, [email protected]

SOURCE CureLab Oncology Inc.