ABOUT THE COMPANY
AACT is biopharmaceutical company focused in the field of oncology. AACT’s primary source of technology is derived from research conducted at the Icahn School of Medicine at Mount Sinai in New York, NY and the Fels Institute for Cancer Research and Molecular Biology of the Temple University School of Medicine in Philadelphia, PA. Currently all research funded by the Company is carried out either at Mount Sinai or at the Lankenau Institute for Medical Research in Philadelphia where we have leased research space. The company either owns the results of all ofthese activities or exclusively licenses them from Temple University or Icahn School of Medicine at Mount Sinai. The company has the right to develop, market or sub-license these technologies and products worldwide. Patent applications have been filed in multiple countries to protect the ongoing activities and intellectual property. To date, more than 10 applications have been filed to cover cancer products and technologies. Four of these patents have been issued.
The Company’s collaboration with the Fels Institute and Mount Sinai Medical School has resulted in the creation of a unique library of chemical compounds. Currently this library contains more than 10,000 novel compounds that are covered by a license agreement with Temple University and Mount Sinai. Using this library, several new anticancer drugs have been discovered
The distinguishing feature of this class is that these drugs kill cancer cells in a broad range of tumor types which harbor specific mutations that are not present in normal cells and thus sparing the body’s normal cells from drug-induced death. The lead drug candidate of this class, AA150030, is the focus of AACT’s current development efforts.
Accordingly, this document details the various aspects of the AA150030 development program and the strategy for expeditiously taking this potential blockbuster product through pre-clinical, clinical and regulatory stages and into the market. The subsequent sections also briefly highlight the other valuable assets of AACT that will be crucial to maintaining a sustained flow of product candidates and building a cancer focused pipeline of innovative solutions for oncology.
AACT is a Delaware corporation founded in 2018. To date, the founders of the Companyhave invested approximately $2 Million. The Company also utilized research and infrastructure grants, from government and non-profit research foundations, in excess of $2 million, bringing the total cash investment to date to more than $4 million. A part of the Company’s program was funded by the USAMRMC, a US Government agency. In addition, much of the supporting services and facilities have been provided by Temple University or Icahn School of Medicine, where these inventions have been made, at no cost to the Company. In effect, the Company, until recently, has been able to operate as a “virtual” corporation by utilizing the facilities and space provided on a rent-free basis by Temple University or Mount Sinai School of Medicine for its R&D operations.
AACTmade the transition from a totally “virtual” existence towards physical existence. Early this year, the Company established a corporate office in the New York area and leased research space search from the Lankenau Institute for Medical Research in Philadelphiato house its research and development activities. One of the important reasons to lease research space at the Lankaneau Institute is that this institute also houses a major Hospital very active in conducting clinical trials in the cancer area. We hope to initiate some of our initial clinical trials at the LankenauHopital.