Clavis Pharma licenses LVT compound CP-4033 to translational therapeutics for development in aggressive thyroid tumours
(Thomson Reuters ONE) -
Oslo, Norway, 16 May 2011
Clavis Pharma ASA (OSE: CLAVIS), a Norwegian cancer drug development company,
and Translational Therapeutics, Inc., a Massachusetts, USA based private
biopharmaceutical company, announced today that they have entered into a
strategic licensing agreement regarding the development and commercialization of
CP-4033.
CP-4033 is a patented, Lipid Vector Technology (LVT) derivative of ribavirin
currently in the preclinical stage of development. Translational Therapeutics
will develop CP-4033 for use in the treatment of aggressive thyroid cancer and
will evaluate the potential of CP-4033 for use in the treatment of other solid
tumours.
Clavis Pharma's intellectual property (IP) surrounding CP-4033 is complementary
to Translational Therapeutics' IP estate around the use of ribavirin analogues
for the treatment of human cancers and its companion diagnostic and therapeutic
response monitoring technologies. The combined patent estate provides a solid
foundation upon which to base a targeted cancer drug development programme.
Under the terms of the agreement, Translational Therapeutics will be responsible
for all future development of CP-4033. Clavis Pharma will receive a minority
equity stake in Translational Therapeutics and potential future milestone and
royalty payments. Further terms of the agreement were not disclosed.
Aggressive thyroid cancer belongs to the family of so-called elF4E cancers,
which demonstrate abnormally high activity of the translation factor and
oncogene, elF4E. Elevated levels of elF4E are known to promote cell growth,
metastasis, and angiogenesis, and inhibit programmed cell death. Ribavirin has
been demonstrated to antagonize eIF4E's oncogenic effects and preclinical
studies with CP-4033 conducted by Translational Therapeutics demonstrate that
CP-4033 appears to be even more effective at inhibiting eIF4E's oncogenic
activities. Elevated elF4E activity is believed to play a role in about 30% of
human cancers.
Olav Hellebø, CEO of Clavis Pharma, said: "This deal for CP-4033 is part of our
strategy to leverage our Lipid Vector Technology platform to create new and
improved drug candidates based on already well-established drugs. As we are
focused on the development of our three most advanced compounds; elacytarabine
and CP-4126 in Phase III and pivotal Phase II clinical trials respectively, and
CP-4200, which will soon enter Phase I clinical trials, we are delighted that
Translational Therapeutics will take on the development of this preclinical
asset."
Gordon Jamieson, CEO of Translational Therapeutics, said: "This agreement
advances our strategy of commercializing high-value cancer therapeutic systems
that provide superior, personalized, evidence-based clinical care solutions for
the treatment of high-grade, poor prognosis human cancers.
Contacts:
For Clavis Pharma
Olav Hellebø, CEO
Office: +47 24 11 09 65
E-mail:olav.hellebo(at)clavispharma.com
Gunnar Manum, CFO
Office : +47 24 11 09 71
Mobile : +47 95 17 91 90
E-mail :gunnar.manum(at)clavispharma.com
For Translational Therapeutics:
Gordon Jamieson, CEO
Office: +1 (781) 483 3266
E-mail:gordon(at)transrx-inc.com
For international press enquiries:
Mark Swallow / Nina Enegren / David Dible
Citigate Dewe Rogerson
Office : +44 207 282 2948
E-mail :clavispharma(at)citigatedr.co.uk
About Clavis Pharma
Clavis Pharma ASA is a late clinical stage oncology discovery and drug
development company based in Oslo, Norway with a portfolio of novel anti-cancer
drugs in development. These patented New Chemical Entities (NCEs) are novel,
improved versions of commercially successful drugs, made using Clavis Pharma's
Lipid Vector Technology (LVT) chemistry. Data generated suggests these potential
breakthrough products may offer improved efficacy and reduced side effects
through enhanced pharmacokinetic properties, greater tissue penetration, altered
metabolism and, in certain cases, additional modes of action.
Clavis Pharma's has several drug candidates in formal development studies:
* Elacytarabine, a leukaemia drug, currently in a randomized, controlled Phase
III study in late-stage acute myeloid leukaemia;
* CP-4126, is currently in a pivotal clinical study compared to gemcitabine
for the 1st line treatment of pancreatic cancer and a Phase II trial for
2nd line treatment for pancreatic cancer in patients refractory to 1st line
gemcitabine treatment;
* CP-4200, an azacitidine derivative, in preclinical development for
myelodysplastic syndrome (MDS), a disease that is often a precursor to
leukaemia.
Clavis Pharma intends to commercialise its products through strategic alliances
and partnerships with experienced oncology businesses and, where and when
commercially appropriate, by establishing its own sales and marketing
capabilities. CP-4126 is licensed to Clovis Oncology globally. Clavis Pharma has
an option to co-promote CP-4126 in Europe.
About Translational Therapeutics
Translational Therapeutics, Inc. (Arlington, Massachusetts, USA) is a
biopharmaceutical firm focused on commercializing cancer therapeutic systems
that provide superior, personalized, evidence-based clinical care solutions for
the treatment of high-grade, poor prognosis human cancers.
Disclaimer
The information contained herein shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the securities
referred to herein in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration, exemption from registration or
qualification under the securities laws of any such jurisdiction.
This news release contains forward-looking statements and forecasts based on
uncertainty, since they relate to events and depend on circumstances that will
occur in the future and which, by their nature, will have an impact on results
of operations and the financial condition of Clavis Pharma. There are a number
of factors that could cause actual results and developments to differ materially
from those expressed or implied by these forward-looking statements. These
factors include, among other things, risks associated with technological
development, the risk that research & development will not yield new products
that achieve commercial success, the impact of competition, the ability to close
viable and profitable business deals, the risk of non-approval of patents not
yet granted and difficulties of obtaining relevant governmental approvals for
new products.
No expressed or implied representations or warranties are given concerning
Clavis Pharma or the accuracy or completeness of the information or projections
provided herein, and no claims shall be made by the recipient hereof by virtue
of the information or projections contained herein. Clavis Pharma is a
registered trademark of Clavis Pharma ASA.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Clavis Pharma ASA via Thomson Reuters ONE
[HUG#1516065]
Unternehmensinformation / Kurzprofil:
Datum: 16.05.2011 - 10:31 Uhr
Sprache: Deutsch
News-ID 54692
Anzahl Zeichen: 8394
contact information:
Town:
Oslo
Kategorie:
Business News
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