New Zealand drug developer and manufacturer Virionyx has changed its name to Innate Therapeutics as it begins a big push with its new immune therapy drug.

The Auckland-based company is due to start Phase 1 trials on its immune response drug, MIS416, which the company believes helps the immune system fight diseases such as cancer.

Chief executive Simon Wilkinson says studies had shown the drug could significantly reduce the number and size of metastatic breast cancers and lung cancers.

“In preclinical studies, MIS416 has demonstrated significant activity against such disease threats as anthrax, plague and influenza, as significant anti-tumour activity in metastatic breast and lung cancers as both a standalone agent and in combination with standard radiotherapy,” he says.

The company says in a statement that the new name reflects a major repositioning of the company to focus development activities on the drug.

Before the development of MIS416 the company had been focused on an Aids treatment drug and while trials had promising results it had had to suspend trials because of cashflow problems.

The unlisted company has managed to raise $3.1 million from shareholders in the final quarter of 2008 – the money is enough to enough to fund the phase one trial and to keep operating for another 18 months.

The hope is that the drug can be through the necessary trials by 2012 and be on pharmacy shelves by 2013 but that is all reliant on funding and of course the success of the trials.