Qualigen Therapeutics Secures Option to Negotiate License for G-Quadruplex Anti-Cancer Technology from UCL

CARLSBAD, Calif., March 01, 2021 (GLOBE NEWSWIRE) -- Qualigen Therapeutics, Inc. (NASDAQ: QLGN), a biotechnology company focused on developing novel therapeutics for the treatment of cancer and viral diseases, announced today it has entered into a Material Evaluation and Option Agreement with the University College London (UCL) to advance development of and potentially expand toward future commercial uses of Qualigen's leading anticancer drug candidate AS1411-GNP, also known as ALAN (Aptamer-Linked Anti-Nucleolin).

In collaboration with the University of Louisville, Qualigen will evaluate the use of ALAN with G-quadruplex binders (GQBs) developed by Professor Stephen Neidle and colleagues from UCL. Research at UCL, supported by the UCL Technology Fund, has shown encouraging results using GQBs and targeted cancer therapeutics, particularly for the treatment of pancreatic cancer. Qualigen believes the combination of these GQBs with ALAN may increase the cancer selectivity, and therefore also the efficacy, of ALAN. Qualigen has secured an option to pursue a worldwide commercial license for this promising technology from UCL Business Ltd, the commercialization company of UCL.

“This agreement with UCL will allow Qualigen to study a significant potential indication for ALAN with improved selectivity for pancreatic cancer cells. In addition to the pancreatic cancer treatment indication, we also continue to evaluate ALAN to treat leukemia and glioblastoma, and as an adjuvant therapy to stop the recurrence of cancer after initial treatment,” stated Michael Poirier, President, Chief Executive Officer and Chairman of Qualigen.

“We look forward to collaborating with Qualigen and continuing to support our partners in the development of exciting new therapeutics around G-quadruplex binders and other targeted cancer therapeutics,” said Prof. Stephen Neidle of UCL “The use of our proprietary GQBs to potentially increase the efficacy of ALAN could provide a major leap forward in the treatment of often terminal diseases such as pancreatic cancer.”

According to the American Cancer Society, for all stages of pancreatic cancer combined, the one-year relative survival rate is 20%, and the five-year rate is 9%.

ALAN is a combination of Qualigen’s AS1411 DNA aptamer plus a DNA-coated gold nanoparticle to dramatically increase its potency. This cancer drug candidate has the potential to target and destroy tumor cells in a various types of cancer with minimal side effects. The Company is aiming to commence Phase 1 human trials in 2021 for acute myeloid leukemia, its lead indication. Qualigen has an exclusive worldwide license agreement from the University of Louisville for ALAN.