Synta Technology Corporation of Taiwan (Taiwan)
The Synta Technology Corporation was formed around 1980 in Taoyuan, Taiwan, by the mechanic and visual designers Dazhong Shen, (a/k/a David Shen). Suzhou Synta Synta Optical Technology Co. Ltd. in Suzhou (Jiangsu), China (outside Shanghai) as a production site for Celestron and Tasco.
Synta founded the Sky-Watcher trademark in 1999, headquartered in Richmond, British Columbia, to market in Canada and Europe and in the US market in the latter part of the year 2000. In 2005, Synta acquired US-based Celestron, continued to produce Celestron equipment, and operated the US facility through SW Technology Corporation, Synta's Delaware-based parent company, and Synta also markets under the name Acuter and produces Orion Telescope & Binoculars.
Tarveda revives Synta Pharma's cancer drug work with $163 million.
At the beginning of this year, Blend Therapeutics renamed itself Tarveda Therapeutics and turned its former main medicine into its own business, the latest step in a strategy review. Cycling and trading resumed this mornings for the Watertown, MA, Watertown Pharmaceutical maker, who closed a contract with Madrigal Pharmaceutical - the recent merger with Synta Pharmaceutical, which no longer exists - to offer another promising anticancer compound.
The Tarveda has declared its willingness to provide Madrigal (NASDAQ: MDGL) with a total of up to $163 million - plus an undisclosed advance deposit - for the right to a medicine named PEN-866 and possibly others. A large part of this money will be bound to the advancement of PEN-866, an investigational antibiotic that, like Tarveda's other investigational treatments, consists of two chemical-compounds.
Tarvedic medicines, which they call pentarines, are basically smaller types of antibody-drugjugates, or an ADC, a kind of tumour therapy that combines anti-bodies with toxic substances to target tumours. Pentarine uses a peptide - much smaller molecule than an anti-body - to pass the medicine on to tumour cell, which theoretically could help them to enter tumour tissues more readily than an ADC.
Tarveda's main medicine, known as PEN-221, attaches to a molecule on the superficial layer of neurendocrine tissue, the 2, which carries the chemotherapeutic agent DM1. With the Madrigal transaction, Tarveda now has a second investigational medicine, PEN-866. Target HSP90, a thermoshock 90 component, is a kind of hormone known as a Chaperone Proteine that assists other cellular components to move - some of which cause internal cancers.
The HSP90 is a favorite destination for anticancer medications, but medications that inhibit the proteins have not gone well. AUY922, Infinity Pharmaceuticals' (NASDAQ: INFI) IPI-504 and Synta's Ganetespib are just a few example of a company whose HSP90 blockers have malfunctioned. Read this review in Clinical Advances in Hematology & Oncology for more on the HSP90 inhibitor story.
MANETESPIB's demise is what Synta, a Lexington, MA, business, fused with Madrigal in April after a strategy audit. Madrigal is a survival business that focuses on heart and circulatory disease, hepatic disease and attempts to lose all of Synta's oncology work. Synta's HSP90 IP is also part of this, which has resulted in what Tarveda continues as PEN-866.
The Tarveda says that PEN-866 differs from previous HSP90 unsuccessful receptors because it is a conjugate - it not only blocks HSP90, it bears a by-product of the toxical chemical therapy irinotecan. However, this must be demonstrated in clinic studies; the first PEN-866 trial should start early next year. As Tarveda Chief Executive Drew Fromkin described PEN-866 as an "ideal location" for the business, which is trying to demonstrate that Pentarine can transcend some of the constraints of an ADC and other cancers.
Tromkin took over the business last year when it was still known as Blend and concentrated on a few different methodologies for the development of cancers. Blend has since divested its old main compound, a next-generation platinum-based chemotherapeutic agent BTP-114, to a new business named Placon Therapeutics, strengthening its Pentarine franchise.