A USC-licensed startup, NeOnc Technologies, that developed an intranasal drug delivery system for brain tumors has got listed for the first time on Nasdaq.
NeOnc has also announced a strategic partnership with CBCC Global Research, a CRO, to expand clinical trials across 30 FDA-compliant sites in India, facilitating the advancement of its neuro-oncology treatment.
NeOnc is based on intellectual property developed by neurosurgeon and NeOnc founder Thomas Chen of Keck Medicine of USC, who is also a tenured professor of neurological surgery and pathology with Keck School of Medicine of USC. NeOnc is the first USC-licensed biotech company with agreements through USC Stevens to go public.USC holds an equity interest of less than five per cent in the startup. Chen, who has been studying the potential treatment for more than a decade, is a shareholder and the founder of NeOnc.
NeOnc’s initial focus is on treating malignant gliomas with a proprietary drug called NEO100, an ultra-purified perillyl alcohol with cancer-fighting properties now in phase 2 clinical trial.
“Our approach allows us to bypass the blood-brain barrier and target the tumor directly,” said Chen, who estimates he has treated over 1,000 glioblastoma patients since he joined the USC faculty in 1997. “The molecule we’re delivering is inhaled through the nose, crosses the nasal passage, interacts with the olfactory nerve and then enters the cerebrospinal fluid and circulates throughout the brain. This is different from traditional chemotherapy which is usually given orally and intravenously.”
Researchers completed phase 1 clinical trials demonstrating safety and tolerance to NEO100 in 2019. For the phase 2 clinical studies now underway, NeOnc has 10 clinical sites recruiting patients and will soon add 30 FDA-compliant clinical research sites in India through its partnership with CBCC Global Research.
Chen has his sights on other targets besides glioblastoma. Inhaled drugs could be used to treat pediatric brain tumors, metastatic brain cancer or even drugs that fight Alzheimer’s disease.“What we’re doing is proving the principle that our delivery method can effectively transport agents to the brain. Once we demonstrate this for brain cancer, the same approach could be used for any brain disease where there’s a potential therapeutic effect,” Chen said.
USC Stevens works to move the discoveries of USC researchers from the lab to the marketplace. It was launched in 2004 with a $22 million endowment from Mark and Mary Stevens. Mark Stevens is a USC Viterbi School of Engineering alumnus and USC Trustee.