BioFinland prize to Oncos Therapeutics Ltd

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Oncolytic viruses are a novel, evolving form of cancer therapy striving toward greater precision, effectiveness, and safety in the treatment of cancer. The biotechnology company Oncos Therapeutics Ltd, operating in Helsinki, works to develop oncolytic viruses on the basis of the results of an experimental therapy programme and years of scientific research carried out at the University of Helsinki. Finnish Bioindustries FIB and the Finnish Fair Foundation have chosen this developer of next-generation cancer treatment methods as the recipient of the 2011 BioFinland prize.
Oncolytic viruses are a novel, evolving form of cancer therapy. The lead product of Oncos Therapeutics is an oncolytic virus CGTG-102, positioned to become the anti-cancer drug of the future. In addition, Oncos Therapeutics Ltd administers its unique experimental Advanced Therapy Access Program (ATAP) to provide virotherapy tailored for individual cancer patients.
This internationally recognised innovation, which is based on the research of the Cancer Gene Therapy Group led by Research Professor Akseli Hemminki at the University of Helsinki, was awarded the BioFinland prize on 22 March 2011. The recipient of the prize was chosen by the awards committee, appointed by the Board of FIB. The chairman of the awards committee was Dr. Timo Veromaa, Chairman of the Finnish Bioindustries.
The awards committee's justification for the decision stated that, if successful, the next-generation cancer therapies of Oncos Therapeutics Ltd have the potential to revolutionise traditional cancer treatments and move the treatment of cancer one step closer to personalised medicine. ‘Through ATAP, Oncos Therapeutics Ltd has been able to develop tailored, safe, and efficient experimental treatment solutions for cancer patients. The company has also successfully attracted significant life-science industry investments with their promising treatment outcomes,' says Dr. Veromaa.
Oncolytic viruses, such as CGTG-102, replicate in the cancer cells and destroy them while generating thousands of copies of themselves. The resulting new viruses then travel to other cancer cells either locally or through the bloodstream inside the metastases and continue the beneficial destruction. Oncolytic viruses target cancer cells and assist the body's own immune system. More than 200 patients have already undergone virotherapy through ATAP, and surveys have shown the side effects to be mild in comparison to those resulting from prior treatments.
Oncos Therapeutics Ltd was founded in 2008. The company is based in Meilahti, Helsinki, and employs 15 people. The CEO of the company is Pekka Simula. Oncos Therapeutics Ltd won in the Venture Cup business plan competition in 2009. In 2010, one of the key venture capitalists in the life science industry, HealthCap, invested €4 million of new capital in Oncos Therapeutics Ltd. This was the single largest life science industry investment made in Finland in 2010.
The €5,000 BioFinland prize is bestowed by the Finnish Fair Foundation and will be given to its winners for the third time now in connection with the ChemBio Finland exhibition. The two previous recipients of the prize are Finnzymes Oy (2007) and Biosilta Oy (2009). The BioFinland prize is awarded to a Finnish person, group, community, or enterprise having developed a bio-industry innovation that can be further developed into an internationally significant product.

For further information, please contact:
CEO Pekka Simula, Oncos Therapeutics Ltd, Tel. +358 10 279 4000
Director Carmela Kantor-Aaltonen, Finnish Bioindustries FIB, Tel. +358 17 284 308

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