One of the most heavily researched pathways by pharmaceutical and biotechnology companies in the area of cancer, immune disorders and metabolic diseases is the Phosphoinositide 3-kinase (PI3K) pathway. PI3Ks are a family of related enzymes that have been linked to an extraordinarily diverse group of cellular functions and biological processes such as cell growth and proliferation, adhesion, differentiation, survival, and intracellular transport.

Aquinox's scientific founders discovered a unique biochemical enzyme called SH2-containing inositol 5'-phosphatase (known as SHIP) and have shown that it regulates the critical PI3K pathway in blood cells. SHIP is unique in that it exclusively regulates blood cells and can be harnessed in the treatment disorders such as multiple myeloma, leukemia, lymphoma, inflammation, allergy and autoimmune diseases while having no, or minimal, effect on non-blood tissues. SHIP is an ideal drug target allowing for the development of a number of potential drug candidates that interact with it. From this discovery, the company has created two research and development programs: the SHIP activator program and the SHIP inhibitor program.

The SHIP activator program is Aquinox's most advanced program for blood and immune disorders and extensive studies are being carried out with AQX-MN100, a potent activator of SHIP, and closely related analogs. AQX-MN100 possesses many desirable drug properties including its high selectivity, cell permeability and easy synthesis. It is also a small molecule, is orally bioavailable, and has demonstrated potent anti-cancer activity as well as anti-inflammatory activity both in vitro and in vivo.

The SHIP inhibitor program is Aquinox's second program for blood cell recovery and is in the early states of lead evaluation.