Peter Molloy, CEO at Race Oncology explains how his business speeds up taking drugs to market. Race look for old drug assets which have been developed and discarded by big pharma companies who chose to to develop other opportunities.
'We don't need a billion dollar market' says Peter, 'if we can create a product with 100, 200, 300 million dollars in sales that's a very big opportunity for us.'
Listed on ASX in Australia in July 2016, Race Oncology's main product is a drug called Bisantrene, and Peter says 'we are achieving all our goals in the timeline we set out'. We are trying to create value for investors, and that's what we focus on every day.'
Bisantrene is a treatment for AML, acute myeloid leukaemia, and is used when other treatments have been tried. AML is principally a disease of the elderly and that market has grown with the ageing population.
The Race Oncology interview is one of a series with Edison pharma clients shot at the Biotech and Money Conference at the Waldorf Hotel, London on 14.11.2017.
