Advanced Proteome Therapeutics Corp (APTCF)

Description:

Advanced Proteome Therapeutics Corporation is the legal name of the Company. The predecessor, Thrilltime Entertainment International, Inc. was incorporated as a British Columbia corporation on December 12, 2005 and changed its name to its present name on August 12, 2006. Advanced Proteome Therapeutics Corporation was formed for purposes of a business combination with Thrilltime Entertainment International, Inc., a publicly-traded British Columbia corporation incorporated under a different name on August 12, 1997, and Advanced Proteome Therapeutics, Inc., a private Delaware corporation incorporated under a different name on April 8, 1998. Advanced Proteome currently conducts substantially all of its operations in the United States. The Company considered its former business to comprise a single operating segment, being the development, construction and sale of actual experience amusement rides. The Company is engaged in the discovery and development of its clinical targets in its own laboratories. Advanced Proteome is developing a new technology platform that could shorten the time-to-market for the commercialization of protein therapeutics. This patent-pending technology platform incorporates a novel method for the selective modification of proteins that affords opportunities to improve key therapeutic properties. The technology has the potential of improving the properties of a growing list of off-patent protein therapeutics resulting in the development of investigational new drugs. The Company has a proprietary platform technology that is applicable to the discovery, development, and re-development of protein therapeutics and small molecule drugs. Advanced Proteome is both a drug delivery and redevelopment company specializing initially in the redevelopment of established protein therapeutics. The Company's proprietary technology is designed to specifically modify a protein at points along its surface complementary to members of its proprietary libraries. Advanced Proteome's technology constitutes a method for determining where on the surface of a target protein to make attachments of performance-enhancing entities, and provides a means for selective attachment of such entities. Besides providing a route to clinical candidates, often this capability could translate into increasing the odds for clinical success. By generating several optional drug candidates for development, the candidate most likely to succeed could be selected by established experimental criteria. The Company's technology is designed to create drugs that contain a known active, and a known carrier, which could be 'stitched' together in a number of specific ways to give commercially viable product. Advanced Proteome would utilize an assortment of specialized skills in protein modification and purification, cloning and phage display techniques, assay development, combinatorial chemistry and related automation, and expertise in solid phase organic synthesis and peptide chemistry. The Company's commercialization strategy is a multi-staged plan that takes the company from initial research and co-development collaborations to commercialization of drugs using its delivery systems. Advanced Proteome has developed a milestone driven program that would build the platform technology and develops commercial applications simultaneously. The Company is planning to pursue protein therapeutics that has established markets in hematological and endocrine disorders and to emphasize improved versions of these suboptimal drugs. Advanced Proteome is subject to numerous federal, provincial and local laws, regulations and recommendations relating to safe working conditions, laboratory and manufacturing practices, the experimental use of animals, the environment and the use and disposal of hazardous substances, used in connection with its discovery, research and development work.