Virionyx changes name to Innate Thera

Virionyx Corp, a New Zealand un-listed public biotechnology company, has changed its name to Innate Therapeutics, to reflect a major  repositioning of the company to focus development activities on its  proprietary drug candidate MIS416, which has shown promising activity  in preclinical proof-of-principle studies in cancer, infectious and  autoimmune diseases. The company plans to initiate a Phase I human  safety study with MIS416 in New Zealand within the second quarter and,  if positive, will pursue Phase II trials in cancer in 2010. The company  also said it had recently raised NZ$3.0 million ($1.8 million) from  existing New Zealand and US shareholders to support the Phase I work.

"MIS416, our novel microparticle immune response modifier, is designed  to work by potently up regulating various disease fighting mechanisms of  the innate wing of the human immune system," said Gill Webster, chief  scientific officer of Innate, adding: "the innate immune system acts as  a master controller for a wide and effective range of immune reactions  against infectious diseases and cancer, making MIS416 potentially an  important second-generation immune response modifier for a wide range of  indications."

Simon Wilkinson, chief executive, commented: "in preclinical studies,  MIS416 has demonstrated significant activity against such disease  threats as anthrax, plague, and influenza, as well as significant  antitumor activity in metastatic breast and lung cancers, as both a  stand-alone agent and in combination with standard radiotherapy.  Moreover it has also shown the ability to rescue animals after lethal  radiation exposure in biodefence-related studies."