Kirk has already said that if stimi works he does not think ONTY will be a stand alone company...I agree with that and since ont 10 will compete with stimi, merck should be the buyer of the whole company
You got to figure that Christopher Henney was the primary mover behind this expansion. Time has already proven that he has a great 'eye' for new talent. This also demonstrates ONTY's inclination to grow and a lack of desire by management to be bought out should START be positive.
Christopher Henney is attempting building a cancer company and if his past record is any indicator, ONTY could, one day, be a valuable enterprise. I just hope we don't need another PIPE or secondary in the short term to pay for it.
Ive always thought onty would do another pipe if stimi works so they could develope ont 10/866 and now additions..float is still low, but at what price do they sell it for? Not 4 bucks thats for sure...Stock should be in the mid teens very soon and then we might see a pipe
ONTY Press release:
Oncothyreon Obtains Anti-Bcl-2 Compound from Sanford-Burnham Medical Research Institute; License Will Expand Oncology Product Development Pipeline
Seattle, Washington and La Jolla, California — September 12, 2011 — Oncothyreon Inc. (Nasdaq: ONTY) and Sanford-Burnham Medical Research Institute (Sanford-Burnham) today announced that they have entered into an exclusive licensing agreement for sabutoclax and related compounds. Sabutoclax is a pan-inhibitor of the Bcl-2 family of anti-apoptotic proteins currently in pre-clinical development. Financial terms of the agreement were not disclosed.
“Overexpression of one or more members of the Bcl-2 family of proteins is common in most human cancers,” said Scott Peterson, Ph.D., Vice President of Research and Development at Oncothyreon. “This overexpression prevents the type of cell death known as apoptosis, resulting in resistance to many frequently used cancer treatments. By blocking Bcl-2 protein function, sabutoclax induces apoptosis in tumor cells and increases the activity of chemotherapy. Sabutoclax inhibits all of the Bcl-2 protein family members, which may prove advantageous when compared with other compounds directed at these targets.”
Sabutoclax was discovered as a result of research in the laboratories of Maurizio Pellechia, Ph.D. and John C. Reed, M.D, Ph.D. at Sanford-Burnham. Dr. Reed, who has extensively published on the role of Bcl-2 proteins in cancer, is Chief Executive Officer of Sanford-Burnham. Reed commented, “We are confident that we have found a strong development partner in the Oncothyreon team that is dedicated to advancing sabutoclax into the clinic for patients battling with cancer.”
“We are excited to expand our pipeline of small molecule compounds being developed in oncology,” said Robert L. Kirkman, M.D., President and Chief Executive Officer at Oncothyreon. “Maintaining and advancing a diverse pipeline of both targeted small molecules and therapeutic vaccines for the treatment of cancer is an integral component of our corporate strategy.”