BAKX Therapeutics announced the dissolution: Focusing on the treatment of cancer through apoptosis
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Focusing on the treatment of cancer through apoptosis, BAKX Therapeutics announced the dissolution.
July 11, 2023, Sree Kant, CEO of BAKX Therapeutics , posted a message on LinkedIn on Tuesday that the company will close on August 1 this year.
He also further explained the reasons for the company’s dissolution – the scientific challenges faced, the expected timeline and the challenging financing environment.
He also said that although BAKX has not fully achieved the goals set at the beginning, it has made very obvious progress in this field, and hopes that this will create a platform for other latecomers to develop on this basis. Additionally, BAKX will return intellectual property to the company’s scientific founders to support “the further development of science.”
Sree Kant previously served as Director of Strategic Partnerships at Pfizer. In June 2020, Sree Kant co-founded BAKX Therapeutics in conjunction with world-leading scholars in the fields of apoptosis and computer-aided drug discovery (CADD) .
The scientific co-founders of BAKX, Prof. Loren Walensky of Dana-Farber Cancer Institute and Prof. Evripidis Gavathiotis of Albert Einstein College of Medicine, are world-leading experts in the pro-apoptotic BAX/BAK activation pathway.
Together, they discovered a unique new approach to addressing the use of conformationally dynamic proteins to induce apoptosis in cancer cells while protecting healthy cells.
The company completed a US$25 million Series A round of financing in November 2021, and also signed a cooperation agreement with Ipsen. According to the agreement, Ipsen paid BAKX an advance payment of US$14.5 million. The potential total amount of this cooperation Up to $837.5 million.
BAKX’s research focuses on the mitochondrial apoptosis pathway, a naturally occurring programmed cell death process. In our bodies, cells that are no longer needed usually kill themselves by activating an intracellular death program.
This process can be targeted in cancer therapy to inhibit cancer progression by activating programmed death of cancer cells, such as apoptosis .
BAKX’s previous core project was the oral small molecule drug BKX-001, which is a BCL-2-associated X protein (BAX) activator, which triggers tumor cell apoptosis by activating BAX protein.
Reference link :
https://www.fiercebiotech.com/biotech/cell-death-biotech-bakx-folds-challenging-funding-environment
BAKX Therapeutics announced the dissolution: Focusing on the treatment of cancer through apoptosis
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