Largest of six awarded to British Columbia supports Xenon’s iron metabolism drug program

Vancouver, Canada – Xenon Genetics announced today that it was awarded Cdn $4.7 million in funding from Genome Canada and Genome British Columbia to develop improved screening, diagnostic tests and therapeutic treatments for common iron metabolism disorders. Matching funds for the three-year project will be provided by Xenon.

Excess iron accumulation in the body causes widespread organ damage. If left untreated, iron overload disorders result in significant morbidity and mortality. Hereditary hemochromatosis (HH) represents a common inherited form of iron overload, while patients with thalassemia develop iron overload due to excess blood transfusion treatments.  HH leads to organ failure and secondary problems such as diabetes, liver cirrhosis, heart disease, arthritis and depression. “Many patients are unaware of their slow accumulation of toxic iron until it is too late”, explains Paul Goldberg, Xenon’s lead scientist on this project. “If detected early, however, HH is treatable and much of the organ damage can be reversed or prevented.”  The primary goal of this project is to deliver innovative clinical approaches that will transform the way physicians treat disorders of iron metabolism, including both iron deficiency and overload.

“If we can predict and prevent iron overload with our novel diagnostics and therapeutics, we will have a significant impact on the management of patients with iron metabolism disorders and their at-risk family members”, said Simon Pimstone, President & Chief Operating Officer. “This award validates Xenon’s approach of using clinical genetics as a starting point for drug discovery and development.”

To support this project, Xenon has organized an international group of experts including leading industry researchers, hospitals, patient support groups, and world-renowned academic and clinical researchers from USA, France and Canada.

This funding will support three interconnecting streams of research:

The identification of new genes: Finding new genes related to iron metabolism will help define the role of iron in disease progression.

The development of diagnostics: The new genes will be used to develop clinical tests to diagnose diseases relating to iron overload. Researchers will identify genetic and protein markers to better predict the severity and outcome of a patient’s iron overload. These diagnostic tests will improve awareness and screening for families and at-risk individuals. The tests will foster personalized treatment of patients with iron overload.

The development of an oral therapeutic: Xenon’s internal iron overload drug program is focused on developing a small molecule drug to effectively reduce iron overload in the body. The funding from this award will help to expedite this program.

“Genome Canada and Genome British Columbia are making research investments that impact both the health of British Columbians and BC’s biotechnology industry. The project led by Xenon is a prime example of this mandate. Xenon is harnessing the power of genomics to identify solutions that can lead to improved diagnostics and novel treatments for important medical needs”, said Alan Winter, President & CEO of Genome British Columbia.

Xenon’s project was one of 14 projects approved out of a total of 45 projects reviewed in this national competition. Xenon’s award was the largest of the six British Columbia projects. Xenon was also one of only two biotechnology companies to receive an award in Canada. 

For more information on Genome Canada and Genome British Columbia, please visit their websites at www.genomecanada.ca and www.genomebc.ca.

About Xenon Genetics Inc.

Xenon is a privately owned, clinical genetics-based drug discovery and development company engaged in developing small molecule therapies based on the genetic causes of select metabolic, neurological and cardiovascular diseases. For more information, visit the Company's website at www.xenon-pharma.com.

This release contains forward-looking statements that are not based on historical fact. These forward-looking statements involve risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements.

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