The pharmaceutical company AI-Therapeutics (Guilford, CT, USA) has acquired the preclinical drug candidates EC-8042 and EC-70124 in the course of the insolvency proceedings EntreChem was experiencing since February of last year. The insolvency event left unfinished the development of both drugs, that were on the verge of facing the first tests in humans.
One of them, EC-8042, shows strong data in various types of pediatric sarcomas, especially EWS and rhabdoid tumors. The other one, EC-70124 is a multikinase inhibitor with superior profile to the standard of care in AML.
The transaction brings as a result that the vast majority of creditors will recoup the debt. Development of the drugs will continue in the USA.
AI-Therapeutics belongs to Jonathan Rothberg, a serial entrepreneur involved in many start-ups. A recipient of the National Medal of Technology and Innovation.
Dr. Jonathan Rothberg is the founder of several companies in the scientific and medical sector, including CuraGen, 454 Life Sciences, Ion Torrent y 4Bionics. Notably, Next Generation Sequencing companies 454 Life Sciences and IonTorrent launched a new era in genomics and precision medicine.