Race Oncology Completes Drug Discovery Program at Monash University; Shares Up 3%

MT Newswires Live11-21 09:38

Race Oncology (ASX:RAC) completed a drug discovery program targeting the Fat and Obesity associated (FTO) protein at Monash University's Fragment Platform, according to a Thursday filing with the Australian bourse.

The program used nuclear magnetic resonance screening to identify 39 chemical candidates that bind specifically to the FTO protein, the filing said.

The FTO protein is a key regulator in ribonucleic acid (RNA) epigenetics. Loss of control of RNA epigenetics is linked to several cancers and metabolic diseases.

The identification of the chemical candidates by Race Oncology provides a platform for developing new FTO-targeting drugs, the filing said.

Race Oncology plans to advance these candidates into a hit-to-lead medicinal chemistry program, though a final decision has not yet been made on progressing this expensive phase.

The company's shares rose almost 3% in recent Thursday trade.

Price (AUD): $1.40, Change: $+0.04, Percent Change: +2.94%

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