Qualigen Therapeutics’ Pan-RAS Inhibitor Featured in Two Abstracts at American Society for Clinical Oncology (ASCO) 2022 Annual Meeting

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Abstracts Highlight In Vitro and In Vivo Activity of Qualigen’s Pan-RAS inhibitor in (1) Pancreatic Cancer, and (2) Malignant Peripheral Nerve Sheath Tumors

CARLSBAD, Calif., May 26, 2022 (GLOBE NEWSWIRE) -- Qualigen Therapeutics, Inc. (Nasdaq: QLGN), a diversified life sciences company focused on developing treatments for adult and pediatric cancers with potential for Orphan Drug Designation, while also commercializing diagnostics, announces that two abstracts featuring the Company’s RAS inhibitor program will be featured in the American Society for Clinical Oncology’s (ASCO) Annual Meeting Abstract Book, which was released online today.

Michael Poirier, Qualigen's Chairman and CEO, commented, “We believe that this recognition from ASCO is an important step for our RAS inhibitor program and demonstrates that there is indeed significant scientific interest in our program and research approach in collaboration with the University of Louisville Research Foundation. We are focused on identifying a lead candidate for IND-enabling studies in Q4 of this year and look forward to sharing our advances as we progress toward that goal.”

The two abstracts, which can be found in the ASCO Annual Meeting Abstract Book include:

Title:	A Novel RAS Inhibitor for Pancreatic Cancer
Authors/Affiliation:	Clark, et., al. University of Louisville, Louisville, KY
Highlights:	Qualigen’s pan-RAS inhibitor (RAS-F) was screened to determine inhibition against pancreatic cancer, which has a dismal survival rate, and is most closely associated with activating mutations in the RAS oncoprotein. Approximately 90% of pancreatic adenocarcinomas carry point mutations activating RAS. RAS-F binds all three main isoforms of RAS at low uM kd and modulates the RAS effector domain in NMR studies. It suppresses RAS signaling pathways in transient assays and suppresses pancreatic tumor cell growth in soft agar with IC50s below 500nM. It suppresses xenograft development of human and mouse RAS driven pancreatic tumor cell lines and reduces the growth of a pancreatic cancer PDX. RAS-F is a pre-clinical pan-RAS inhibitor that is active in vitro and in vivo against pancreatic cancer models.

Title:	A Novel Pan-RAS Inhibitor for Malignant Peripheral Nerve Sheath Tumors
Authors/Affiliation:	Clark, et. al., University of Louisville, Louisville, KY
Highlights:	Qualigen’s pan-RAS inhibitor (RAS-F) was screened to determine inhibition against malignant peripheral nerve sheath tumors (MPNST), a rare but deadly form of sarcoma originating from the Schwann cell compartment. RAS-F was shown to bind all three main isoforms of RAS at low uM kd and modulates the RAS effector domain in NMR studies. RAS-F was also shown to suppress RAS signaling pathways in transient assays and suppress MPNST tumor cell growth in soft agar with IC50 ~250nM. Importantly, RAS-F also suppresses MPNST PDX growth in vivo. RAS-F is a pre-clinical pan-RAS inhibitor that is active in vitro and in vivo against MPNST cancer models. The agent also has potential uses against non-tumor manifestations of Neurofibromatosis such as Plexiform and Cutaneous neurofibromas.

Qualigen’s RAS program is a family of small molecules designed to prevent mutated RAS gene proteins from binding to their effector proteins. Exclusively in-licensed from UofL, compounds from this discovery engine have been shown to impact tumor growth in multiple in vivo models. Qualigen is evaluating promising compounds generated from this partnership in various RAS-driven advanced solid tumors such as pancreatic, colorectal and lung cancers.

About Qualigen Therapeutics, Inc.

Qualigen Therapeutics, Inc. is a diversified life sciences company focused on developing treatments for adult and pediatric cancer, as well as maintaining and expanding its core FDA-cleared FastPack^® System, which has been used successfully in diagnostics for over 20 years. Our investigational QN-302 compound is a small molecule selective transcription inhibitor with strong binding affinity to G4s prevalent in cancer cells; such binding could, by stabilizing the G4s against “unwinding,” help inhibit cancer cell proliferation. Our investigational QN-247 compound inhibits nucleolin, a key multi-functional regulatory protein that is overexpressed in cancer cells; QN-247 may thereby be able to inhibit the cells’ proliferation. QN-247 has shown promise in preclinical studies for the treatment of acute myeloid leukemia (AML). The investigational compounds within Qualigen’s RAS-F family of RAS oncogene protein-protein interaction inhibitor small molecules are believed to inhibit or block the binding of mutated RAS genes’ proteins to their effector proteins, thereby leaving the proteins from the mutated RAS unable to cause further harm. In theory, such mechanism of action may be effective in the treatment of about one quarter of all cancers, including certain forms of pancreatic, colorectal, and lung cancers. In addition to its oncology drug pipeline, Qualigen has an established diagnostics business which manufactures and distributes proprietary and highly accurate rapid blood testing systems to physician offices and small hospitals for the management of prostate cancer and other diseases and health conditions.

For more information about Qualigen Therapeutics, Inc., please visit www.qualigeninc.com.

Forward-Looking Statements

This news release contains forward-looking statements by Qualigen that involve risks and uncertainties and reflect the Company's judgment as of the date of this release. These statements include those related to the Company's prospects and strategy for its RAS inhibitor program and other therapeutic drug candidates. Actual events or results may differ from the Company's expectations. For example, there can be no assurance that the closing conditions for the NanoSynex transaction will be satisfied or that the Company will be able to successfully develop any drugs (including RAS-F, QN-302 and QN-247); that preclinical development of the Company's drugs (including RAS-F, QN-302 and QN-247, and the deprioritized infectious-disease drug candidate QN-165) will be completed on any projected timeline or will be successful; that any clinical trials will be approved to begin by or will proceed as contemplated by any projected timeline, or at all; that any future clinical trial data will be favorable or that such trials will confirm any improvements over other products or lack negative impacts; that any drugs will receive required regulatory approvals (or Fast Track designation or Orphan Drug status) or that they will be commercially successful; that patents will issue on the Company's owned and in-licensed patent applications; that such patents, if any, and the Company's currently owned and in-licensed patents would prevent competition; or that the Company will be able to procure or earn sufficient working capital to complete the development, testing and launch of the Company's prospective therapeutic products (including RAS-F, QN-302, QN-247, and QN-165). The Company's stock price could be harmed if any of the events or trends contemplated by the forward-looking statements fails to occur or is delayed or if any actual future event otherwise differs from expectations. Additional information concerning these and other risk factors affecting the Company's business can be found in the Company's prior filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K, all of which are available at www.sec.gov.

The Company disclaims any intent or obligation to update these forward-looking statements beyond the date of this news release, except as required by law. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact:

Jules Abraham
JQA Partners, Inc.
917-885-7378
[email protected]

Source: Qualigen Therapeutics, Inc.