ME Therapeutics has garnered capital and advisory services from the National Research Council of Canada Industrial Research Assistance Program, the Vancouver-based preclinical biotechnology company announced this week.
The Canadian therapeutics innovator is working on novel cancer fighting drugs in the field of immuno-oncology. ME Therapeutics’s proprietary mRNA sequences have been engineered to encode for proteins that can modify the immune response in vivo in a targeted manner.
The company’s lead candidate is designed to modulate cells in the tumour and stimulate an anti-cancer immune response. Preclinical testing has so far demonstrated “encouraging anti-cancer activity” in a mouse model of colorectal cancer, according to ME.
The NRC IRAP’s $140,000 investment intends to support the research and development of ME’s mRNA therapeutic program targeting myeloid cell biology for the treatment of cancer and inflammatory disease.
The funding for ME “builds on advisory services and funding received in past year,” according to chief executive officer Salim Dhanji.
“We are pleased to receive this support from NRC IRAP,” stated Dhanji.
Dhanji says that he and the rest of the team at ME “passionately believes myeloid cell-derived mRNA therapies represent the next wave of treatments for patients with cancer and inflammatory disease who today have limited treatment options.”
“We are committed to bringing these potential new approaches to the clinic as soon as possible,” the CEO stated.
Trading under the ticker symbol METX, shares in ME Therapeutics Holdings are up over 10,000% since the entity went public in 2023.
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