AUM Biosciences successfully launches to drive commercial innovation in oncology, developing innovative and affordable medicines for Asia
– Newly founded company raises S$2.04 million in seed financing to establish initial development candidates and initiate clinical development
– AUM Biosciences to implement novel trial designs with a focus on digitalisation and precision medicine to accelerate drug development
Singapore, 25 June 2018 – AUM Biosciences (AUM), a new company focused on the development of innovative and affordable oncology medicines with high unmet medical need in Asia, officially launched today with S$2.04 million in seed funding. AUM aims to harness the power of digital and precision medicine to disrupt the drug development process, accelerating development timelines, manage trial costs and improve patient outcomes.
AUM is founded by industry veterans, Mr Vishal Doshi and Dr Harish Dave, who have more than 50 years of combined international experience in clinical research, development and commercialisation across the pharmaceutical and CRO industry. Mr Doshi has a strong track record in structuring and managing risk sharing deals worth more than US$1 billion throughout his career. Mr Doshi, a pharmacist by training, is a global pharma key opinion leader with the Korea Health Industry Development Institute. Mr Doshi also has expertise in embedding healthcare technology solutions in drug development in his career including his time at Quintiles (now known as IQVIA).
Dr Dave, a board-certified oncologist and haematologist, has over 35 years’ experience in early-stage oncology drug development. He has executed more than 100 oncology studies and submitted over 50 INDs. Dr Dave was also instrumental in the structuring and execution of a private equity Novaquest-sponsored fund which was valued over US$100 million. Dr Dave held senior management positions namely at Quintiles (now IQVIA), George Washington University and VA Medical Center in Washington.
About 60% of cancers worldwide today are diagnosed in Asia, and], 2030, there will be about 10.6 million new cases in the region. By 2019, AUM will build a pipeline of three small molecule oncology assets, designed to enable intra-pipeline combinatorial treatments to drive activity against a broad range of Asia-prevalent tumour types such as hepatocellular carcinoma, head and neck cancer, gastric cancer, cholangiocarcinoma, triple negative breast cancer, as well as cancers with rising incidence rates worldwide such as prostate and colorectal cancer.
Through partnerships with pharmaceutical industry and academia, AUM Biosciences will identify and in-license pre-IND or late stage pre-clinical assets for development through phase 1 to proof of concept using biomarker-driven strategies and incorporating a digital medicine approach, and seek global partners for late-stage clinical development and commercialisation.
“Strategically headquartered in Singapore, AUM will conduct clinical trials in Asia, where the majority of its target patient population reside, by collaborating with leading academic and research centres throughout Asia.
Vishal Doshi, Founder and Chief Executive Officer, AUM said: “While Asian biotechnology landscape has improved, western drug development still remains the focus for the majority. In 2017, 55 oncology drugs were approved globally but fewer than 20% of these medicines are available in emerging markets, specifically Asia. AUM is focused on addressing the significant unmet need in cancer treatment in Asia, and we differentiate ourselves by taking cutting edge research and science, adopting value-based innovation models and make it commercially viable – benefitting patients, payers and physicians in Asia and around the world.”
Dr Harish Dave, Co-Founder and Chief Medical Officer, AUM said: “Over the next decade, advances in technology and personalised care will act as key drivers that will impact the oncology landscape, and AUM Biosciences is at the forefront of this evolution. We believe that we are one of the first biotech companies to embed digitalisation and precision medicine strategies in our approach to drug development which we believe has the potential to reduce the cost of clinical trials by up to 20%, and, ultimately, translate to more affordable healthcare and improved patient outcomes.”
Emma Thompson / Stephanie Tan
Tel: +65 6340 7287
About AUM Biosciences
AUM Biosciences (AUM) is an oncology-focused Asian biotechnology company committed to developing affordable cancer therapies. Dedicated to unlocking the value in innovation, AUM harnesses the power of precision medicine and digital health to support patients, physicians and partners. AUM focuses on earlystage development of innovative treatment of cancers prevalent in Asia with the potential to address global markets.
Led by a highly-experienced management team with over 70 years of oncology drug development experience combined, AUM develops potent and highly selective therapeutics in oncology, with an aim to change the drug development paradigm by implementing a holistic approach to developing drugs.
Headquartered in Singapore, AUM is strategically positioned to work, partner and collaborate with leading research institutes, clinicians and pharmaceutical companies globally. AUM is the recipient of Frost & Sullivan’s 2019 Asia-Pacific Biotech Entrepreneurial Company of the Year. For more information, please visit www.aumbiosciences.com