Carrick Therapeutics Launches in Europe

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The new company will focus on R&D of cancer treatments.

Carrick Therapeutics, a new venture focused on developing new cancer treatments, launched on Oct. 3, 2016 after securing $95 million in funding. The new company has research and development teams located in Oxford, United Kingdom and Dublin, Ireland.

Elaine Sullivan, former vice-president for R&D functions at Eli Lilly and Astra Zeneca was appointed chief executive officer of the newly formed company. "One of our founding scientific programs is derived from the laboratory of Professor Steve Jackson FRS FMedSci, who is also a member of our scientific advisory board. Professor Jackson is the University of Cambridge and Cancer Research UK Professor of Biology, as well as Head of Cancer Research UK Laboratories. He pioneered work resulting in a new medicine, known as olaparib/Lynparza, to treat ovarian cancer based on the molecular profile of the patient," Sullivan said in a press statement.

Carrick Therapeutics will focus its research on molecular pathways that target the most aggressive and resistant forms of cancer. The company is working on three scientific programs and is looking to expand its portfolio through academic and pharmaceutical partnerships, the company said in a press announcement. Experts from Cancer Research UK, Cambridge University, Imperial College of London, and Oxford University will all collaborate with Carrick Therapeutics on its R&D.