The winner of the 2013 EuropaBio Most Innovative European Biotech SME award has been
announced. PsiOxus Therapeutics won the esteemed award- now in its 4th year- due to their radical research and innovative breakthroughs in meeting societal grand challenges in the field of healthcare. The company is committed to developing a new approach to cancer therapy, by using oncolytic vaccines that are potent killers of cancer cells, but with minimal effects on normal healthy cells.
According to PsiOxus Therapeutics CEO, Dr John Beadle, Cancer is a disease that currently affects a third of all individuals at some point in their lives and this figure is expected to rise to nearly 50% between 2020 and 2030. Although survival rates are improving, the cumulative effects of conventional radiotherapy, surgery and cytotoxic chemotherapy can be very debilitating to individuals and a burden of care for both relatives and healthcare services.
PsiOxus Therapeutics is developing a new approach to cancer that works with the body to fight disease while minimising side effects. Their lead product, ColoAd1, is a replicating cancer vaccine that destroys malignant cells in a manner designed to provoke an immune response against cancer antigens but that leaves the healthy cells alone. This approach combines never before used ways of fighting cancer.
The award was presented during the first ever European Biotechnology Week, at an event in Brussels which attracted an audience drawn from industry, policy, media and patient groups. The event discussed Europe’s future in the global biotech sector, and whether Europe is equipping itself with the right policy framework to encourage innovation, and importantly, retain it.
Key speakers included Jean-Paul Kress, CEO of Sanofi Pasteur MSD; US venture capitalist, G. Steven Burrill, founder and CEO of Burrill & Company; Jim Philp, Directorate for Science, Technology and Industry at the OECD and MEPs Kay Swinburne and Philippe de Backer.