Kenox Pharmaceuticals Spins Out Onconox Inc. to Accelerate Clinical Development of OCN001

Summary

Kenox Pharmaceuticals has established Onconox Inc. as a wholly owned subsidiary to advance OCN001, its investigational lung cancer therapy, into clinical development. The decision follows significant preclinical progress achieved within Kenox, including a successful pre-IND meeting in 2021. Full IP and development rights for OCN001 have been transferred to Onconox, enabling dedicated focus and streamlined progression toward clinical evaluation.

Kenox Pharmaceuticals, a CDMO and early development specialist supporting global biopharmaceutical clients, today announced the creation of Onconox Inc., a new Delaware-based biotechnology company established to advance OCN001, a novel therapeutic candidate for lung cancer. Kenox has transferred full ownership of all intellectual property, development rights, and associated data for OCN001 to Onconox, which will operate as a wholly owned subsidiary.

The decision to form Onconox reflects the significant scientific and regulatory progress already achieved for OCN001 under Kenox’s leadership. Throughout 2020 and 2021, Kenox conducted extensive preclinical work to characterize the asset’s potential and established a robust data package. This culminated in a successful pre-IND meeting with the U.S. Food and Drug Administration in 2021, during which the agency provided clear guidance supporting the proposed development path.

With this positive momentum — and recognizing the program’s potential to address a major unmet need in lung cancer — the Kenox leadership team determined that OCN001 required a dedicated corporate structure to ensure rapid, focused advancement toward the clinic.

Dr Sitaram Velaga, Founder and CEO of Kenox Pharmaceuticals and newly appointed CEO of Onconox Inc., commented:"OCN001 had reached a natural inflection point. The strength of the preclinical work completed at Kenox, combined with the encouraging feedback from our pre-IND meeting, made it clear that a dedicated company was the best vehicle to accelerate its progress. Onconox has been created to give this program the focus, governance, and investment pathway it deserves."

Onconox will concentrate solely on advancing OCN001 through the remaining preclinical requirements and into formal clinical development. Kenox will continue operating independently as a CDMO, providing formulation, development, and manufacturing services to the broader biopharmaceutical sector.

Further announcements regarding early operational milestones and development plans for OCN001 will be made as Onconox initiates the next phase of its growth.