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Providence and Ontario Institute for Cancer Research (OICR) partnering to discover and develop mRNA therapeutics
CALGARY, AB and TORONTO, May 23, 2024 /CNW/ - Providence Therapeutic Holdings Inc. ("Providence"), a messenger RNA (mRNA) and lipid nanoparticle platform company engaged in the development of vaccines and therapeutics, and the Ontario Institute for Cancer Research (OICR), Ontario's largest publicly funded cancer research institute delivering real-world solutions to people affected by cancer, today announced the signing of a collaboration agreement for mRNA drug discovery and development. This is a unique collaboration that combines OICR's expertise in cancer genomics and translational drug discovery with Providence's next generation of mRNA and LNP technology to accelerate preclinical drug development and launch new clinical initiatives that answer key questions in clinical oncology.
"OICR and Providence share a common vision of advancing research in cancer prevention and treatment in Ontario, across Canada, and globally. We look forward to leveraging Providence's next generation mRNA and LNP platform technology and drug development expertise alongside the experts at OICR to improve the lives of people battling cancer," said Brad Sorenson, CEO and Founder of Providence Therapeutics.
"Partnering with an mRNA industry leader like Providence will help OICR harness our strengths in bioinformatics, genomics and immunology to generate new and exciting ways to prevent and treat cancer," says Dr. Laszlo Radvanyi, President and Scientific Director of OICR. "I am especially excited for the impact this partnership will have for people affected by cancer as well as the potential economic value it can bring in helping drive Canada's leadership in this rapidly growing field."
OICR and Providence's partnership will help advance modern drug development in Canada and create new clinical initiatives that will touch the lives of people across the country. As product development and manufacturing will be done domestically, Canadians will be first in line to participate in new clinical oncology programs and access new treatments.
All programs that emerge from this strategic partnership will result in guaranteed country-of-origin rights to Canada that will ensure Canadians will have affordable access to any medicines created.
About Providence Therapeutics
Providence Therapeutics has developed an mRNA medicines platform and has established itself as a competitive player within the mRNA scene for the last 10 years. Consisting of a clinically proven mRNA platform and a next-generation lipid-nanoparticle (LNP) platform, the company developed to enhance immune responses to cancers and infectious diseases. Along with this, Providence also has manufacturing and regulatory platforms that are capable of producing drugs for personalized vaccines up to pandemic scale amounts. Providence has a robust pipeline consisting of preclinical and clinical oncology, infectious diseases, and animal health programs. These programs have been developed internally and in collaboration with academic and industry partners that specialize in many different fields. For more information, please visit https://www.providencetherapeutics.com
About Ontario Institute for Cancer Research
OICR is funded by the Government of Ontario. As the province's cancer research institute, we take on the biggest challenges in cancer research and deliver real-world solutions to find cancer earlier and treat it more effectively. We are committed to helping people living with cancer, as well as future generations, live longer and healthier lives. For more information visit http://www.oicr.on.ca
For further information:
Providence Contact: Jordan Schwartz, Director, Partnerships and Innovation, , Phone: 403-440-3599
OICR Contact: Daniel Punch, Manager, Communications and Public Affairs, , Phone: 647-291-4583