Oblato acquires all rights to glioblastoma drug from OMRF

Oblato Inc. acquired rights from the Oklahoma Medical Research Foundation (OMRF) to an investigational drug for the treatment of glioblastoma, a deadly form of brain cancer.

An estimated 12,000 Americans are diagnosed with glioblastoma each year, according to the American Brain Tumor Foundation. The standard treatment involves surgery to remove as much of the tumor as possible, followed by radiation and chemotherapy. Still, the tumor almost always grows back.

“There is currently no cure for glioblastoma, and the development of new treatments is a very important unmet need,” Oblato CEO Won S. Yang said.

In studies at OMRF, OKN-007 reduced tumor size and increased life span in animal models of glioblastoma.

With treatment, the median survival is 12 to 18 months, and only 1 in 20 glioblastoma patients will live five years. Earlier this year, Sen. John McCain died from glioblastoma.

“Right now, there is no effective treatment for glioblastoma,” OMRF Vice President of Technology Ventures Manu Nair said. “We hope that OKN-007 can change those numbers for the better.”

Oblato will initiate additional trials to study the efficacy and safety of the drug in larger patient populations. At this time, OKN-007 is administered as an infusion, but the company also has plans to develop an oral form of the drug.

“Oblato will conduct glioblastoma clinical trials on patients in the U.S. and will work to develop this new drug worldwide,” Won said.