Orion Biotechnology Canada Ltd., a clinical stage company unlocking the therapeutic potential of G Protein-Coupled Receptors (GPCRs) with a novel drug modality, proven discovery platform and best-in-class molecules, today announced that it is receiving advisory services and conditional funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP). The funding will support the development of Orion’s lead compound, OB-002, a GPCR analog of CCL5 with best-in-class potency and broad applicability across a range of serious diseases including cancer and neuroinflammation. Working in collaboration with NRC’s Human Health Therapeutics Research Centre, the objectives of the project will be to further expand the translational research of OB-002, including an assessment of the molecules’ ability to cross the blood brain barrier (BBB).
“We are very pleased to receive advisory services and this funding from NRC IRAP,” said Mark Groper, President and CEO of Orion Biotechnology. “Their support will help accelerate development of OB-002 as a potentially important therapy for the treatment of serious illnesses”.
“GPCRs are implicated in a wide range of human physiological processes and we are interested in expanding our knowledge of OB-002’s pharmacological profile and mechanism of action,” commented Ian McGowan, Orion’s Chief Medical Officer. “This project, supported by NRC IRAP and our collaborators, will prove important as we continue to progress OB-002 into the clinic”
About Orion Biotechnology
Orion Biotechnology Canada Ltd, is a clinical stage biotechnology company focused on the discovery and development of precision engineered G-Protein Coupled Receptor (GPCR) targeted therapeutics. Leveraging its proprietary drug discovery platform, Orion is advancing a promising new class of highly potent drugs to unlock a set of high-value GPCR targets that have proven very challenging using traditional drug classes. Orion’s lead candidate, OB-002, is a first-in-class Chemokine Analog and best-in-class CCR5 antagonist. With close ties to diverse institutions and experts around the globe, and a highly innovative proprietary drug discovery platform, Orion is uniquely positioned to stimulate the rapid development of promising new treatments for serious diseases. Learn more at www.orionbiotechnology.com.
Source: https://www.globenewswire.com/en/news-release/2021/11/04/2327789/0/en/ORION-BIOTECHNOLOGY-RECEIVES-FUNDING-TO-ADVANCE-ITS-LEAD-GPCR-TARGETED-THERAPEUTIC.html
