Panacela Labs

About Panacela Labs

Panacela Labs operates as a clinical-stage biotechnology company with a clear focus on developing and commercializing drugs for oncology and other diseases. Founded in 2011, the company was established as a joint venture between Cleveland BioLabs, a clinical-stage biotech firm, and RUSNANO, a large Russian investment company. This collaboration also involved intellectual property contributions from prominent institutions like the Roswell Park Cancer Institute, Children's Cancer Institute of Australia, and the Cleveland Clinic Foundation.

The company's primary business involves the development of gene therapy drugs. Its portfolio has included treatments for cancer immunotherapy, chemotherapy sensitizers, anti-infectives, and prostate cancer target therapy. A key program in Panacela's pipeline was Mobilan, a nanoparticle-formulated, recombinant non-replicating adenovirus designed as a universal cancer therapy. Mobilan works by directing the expression of Toll-like Receptor 5 (TLR5) and its ligand, flagellin, within tumor cells, which in preclinical studies, prompted an immune response against the tumor. Another notable program was the development of Xenomycins, a family of compounds being developed as anti-infective agents.

Panacela's business model is centered on research and development, funded through significant investment rounds and strategic partnerships. The company successfully raised a total of $39.9 million in funding over two rounds, with Rusnano being a key institutional investor. A significant contract of approximately $4.6 million was also awarded by the Ministry of Industry and Trade of the Russian Federation to support the development of Xenomycins. The company, headquartered in Buffalo, NY, operated with the goal of advancing its drug candidates through preclinical and clinical trials to eventually achieve regulatory approval and commercialization. According to reports, Panacela Labs is now considered a deadpooled company.