Qu Biologics Inc. recently provided an update for ongoing clinical trials assessing the company’s lead candidate for inflammatory bowel diseases (IBD), namely ulcerative colitis and Crohn’s disease. The company also announced it has closed an oversubscribed private funding of 3.5 million Canadian dollars, bringing its total private equity capital raised to 19 million dollars. Qu Biologics is a biotechnology company dedicated to the development of Site Specific Immunomodulators (SSIs), a new class of immunotherapies that are able to restore the body’s normal immune response.
“We are pleased with the high level of interest from private equity investors who clearly share our enthusiasm in the wide application potential of Qu Biologics’ platform of SSI treatments,” said Dr. Hal Gunn, CEO of Qu Biologics, in a press release.
Qu Biologics is currently conducting clinical trials on SSIs as therapeutic approaches for Crohn’s disease, ulcerative colitis, and recurrent lung cancer. SSIs stimulate an immune response in the targeted tissues and organs that may potentially reverse chronic inflammation.
QBECO is an SSI, more specifically a preparation of death bacteria from a species known to commonly infect the human colon, which is being assessed as a Crohn’s disease treatment. Results from this clinical study are expected to be available early in 2016.
“Rather than blocking or disrupting a process in the body, SSIs are designed to restore our body’s innate immune response. This potential is reflected in both the blinded and open-label data for QBECO, our lead candidate for the treatment of inflammatory bowel disease. We anticipate sharing the top-line unblinded results of QBECO-01, our Phase 2 Crohn’s disease trial, in late first quarter 2016 and evaluating strategic licensing opportunities,” said Dr. Gunn.
The company is also conducting an open-label Phase 2 clinical trial with QBECO in ulcerative colitis (QBECO-UC-01). A first group of participants has been enrolled, and enrollment of a second group is expected to begin in late summer or early fall of 2016. Qu Biologics is also developing Phase 1/2 clinical trials for lung cancer, and plans to initiate Phase 3 trials in ulcerative colitis and Crohn’s disease early in 2017.
“This latest round allows Qu to expand its clinical footprint by initiating a randomized, controlled clinical trial in one or more cancer indications in 2016. Compelling earlier compassionate use and clinical data supports further expanding our clinical programs, and we plan to raise additional capital throughout 2016, privately, publicly or through strategic partnerships, to support these efforts,” concluded E. Russell McAllister, Qu Biologics’ vice president of Finance.