The proceeds will enable Optimata to complete the evaluation process required for the selection of discontinued drug candidates most suitable for repurposing.
RAMAT GAN, Israel--(BUSINESS WIRE)--"Optimata Ltd. has successfully completed a private placement of $1.5 million USD from a new group of private European investors," announced today Michael Agur, Optimata's CFO.
The proceeds will enable Optimata to complete the evaluation process required for the selection of discontinued drug candidates most suitable for repurposing. The funding will also significantly enhance Optimata’s computational capabilities.
Optimata is currently in the final stages of selecting discontinued oncology compounds for in-licensing and repurposing using the company’s proprietary biosimulation technology.
“After closely examining more than one hundred drug candidates we have short-listed several that we believe have good prospects for repurposing and renewed clinical development,” said Guy Malchi, Optimata's CEO.
“We plan in the next few months to make a final selection of one or two compounds and then to use our technology to significantly improve the compounds’ safety and efficacy profiles,” said Guy Malchi, adding, “The in-licensing of drug candidates for in-house development represents an additional approach to our business development and one that we expect to substantially increase revenues.”
Optimata has successfully demonstrated the value of its Optimata Virtual Patient ® technology in improving the drug development process. This has been shown in several projects carried out for pharmaceutical companies such as Eli Lilly and in a landmark predictive chemotherapy validation study conducted with Cancer UK.
About the Optimata Virtual Patient®
The Optimata Virtual Patient® is a unique predictive biosimulation technology, comprising computer-implemented mathematical algorithms of key physiological, pathological and pharmacological processes in the body of the patient.
Calibrated with patient-specific parameters, this technology can tailor improved treatments of various monotherapies and combination therapies of targeted and chemotherapeutic drugs. The original concepts underlying Optimata Virtual Patient® (OVP) are protected by patents in USA (2000) and Europe (2006) and so are the mathematical algorithms embedded in it. To distinguish this technology from other marketed biosimulation technologies, Optimata succeeded in obtaining a trade-mark status for its OVP technology.
About Optimata
Optimata Ltd. is an interdisciplinary science-based, company developing computerized tools &ndash Virtual Patient engines &ndash for navigating drug development towards better drugs, faster. Applying bio-mathematics to develop a predictive bio-simulation software toolkit, this technology provides a comprehensive drug development solution, from the pre-clinical phase through treatment personalization. It thoroughly unfolds drug - patient dynamic interactions, enabling drug developers to perform rapid virtual clinical trials and to forecast optimal drug treatment-patient population-clinical indication match for a given trial end point.
For more information about Optimata visit www.optimata.com
