Aikido Pharma has made an investment in Convergent Therapeutics, a company developing a radiopharmaceutical for treating prostate cancer. Aikido made the investment in the form of a $2 million (1.7 million euros) convertible promissory note purchase agreement.
Convergent is conducting human clinical trials using its peptide receptor radionuclide therapy (PRRT) technology, which targets the prostate-specific membrane antigen (PSMA) present on prostate cancer cells. A key component of PRRT is Convergent's proprietary drug, CONV 01-α, a monoclonal antibody conjugated with actinium-225, a radioactive alpha-particle emitter.
Convergent has two sets of human clinical trials underway that use CONV 01-α as a single-agent treatment for prostate cancer. The company has also developed a dual therapy by adding a second molecule that binds to PSMA and also has a radioactive isotope. Trials of this agent are expected to begin in February 2021.
