BioInvent and ThromboGenics Amending Long-Standing Monoclonal Antibody Development Agreement
(Thomson Reuters ONE) -
PRESS RELEASE
10 July 2017
Lund, Sweden and Leuven, Belgium - 10 July 2017 - BioInvent International AB
("BioInvent") (OMXS: BINV) and ThromboGenics NV (Euronext Brussels: THR) today
announce that they have agreed to amend their long-standing agreement, which
covers the co-development of the novel anti-PlGF monoclonal antibody products
TB-403 and THR-317. The revisions to the existing agreement have been aligned
with each company's strategic ambitions and therapeutic focus.
The novel anti-PIGF monoclonal antibody is currently being developed as:
* TB-403, which is being evaluated in a Phase I/IIa trial as a treatment of
relapsed or refractory medulloblastoma, a rare, life-threatening brain tumor
that mainly affects children. TB-403 is being developed by Oncurious (a
ThromboGenics' oncology subsidiary), in collaboration with BioInvent.
* THR-317, which is being evaluated in a phase II trial in patients with
diabetic macular edema (DME). This trial is being conducted by ThromboGenics
exclusively.
Under the current agreement, the split of economic value for the compounds is
60:40 (ThromboGenics: BioInvent), with a 50:50 cost split for historical and
future development costs.
Under the new agreed contractual arrangement, the spilt of economic value and
costs will be as follows:
* TB-403 - BioInvent assumes the project lead for developments of TB-403 in
all oncology indications, and increases its share of the economic value from
40 to 50 percent. The parties will continue to share the costs for
development of TB-403 in oncology indications at 50:50.
* THR-317 - ThromboGenics gains full and exclusive ownership of THR-317 for
development and commercialization in all non-oncology indications.
ThromboGenics will continue to carry all costs for the development of THR-
317 in non-oncology indications, and share a 5% economic value with
BioInvent.
ThromboGenics and BioInvent have entered into a binding term sheet covering the
above arrangement for TB-403 and THR-317, and will be executing the definitive
amended agreements by Q3 2017.
For further information, please contact:
+--------------------------------------+---------------------------------------+
|BioInvent international |ThromboGenics |
|Michael Oredsson |Wouter Piepers |
|President and CEO |Global Head Corp Coms & Investor|
|Tel: +46 (0)46 286 85 67 / +46 (0)707 |Relations |
|16 89 30 |+32 16 75 13 10 / +32 478 33 56 32 |
|michael.oredsson(at)bioinvent.com |wouter.piepers(at)thrombogenics.com |
| | |
+--------------------------------------+---------------------------------------+
BioInvent International AB (publ)
Co. Reg. No. 556537-7263
Visiting address: Sölvegatan 41
Mailing address: 223 70 LUND
Phone: +46 (0)46 286 85 50
info(at)bioinvent.com
www.bioinvent.com
Notes to editors:
About BioInvent
BioInvent International AB (OMXS: BINV) is focused on the discovery and
development of novel and first-in-class immuno-regulatory antibodies to treat
cancer. The Company's clinical programmes are BI- 1206, currently in a Phase
I/II for non-Hodgkin's lymphoma and chronic lymphatic leukaemia and TB- 403, in
cooperation with Oncurious, currently in Phase I/II for medulloblastoma.
BioInvent has an exciting pre-clinical portfolio based on novel immuno-
modulatory antibodies that target regulatory T cells (T-regs) and tumour-
associated myeloid cells. In December 2016, the Company signed a strategic
research collaboration with Pfizer Inc. BioInvent also works with leading
academic institutions including the University of Southampton, Cancer Research
UK, and Penn Medicine. BioInvent generates revenues from global partnerships,
including Bayer Pharma, Daiichi Sankyo, and Mitsubishi Tanabe Pharma and from
its manufacturing facility for the production of antibodies for research through
to late- stage clinical trials. More information is available at
www.bioinvent.se
About ThromboGenics
ThromboGenics is a biopharmaceutical company focused on developing innovative
treatments for diabetic eye disease. The company's pipeline of disease modifying
drug candidates is targeting the key segments of the diabetic eye disease
market.
ThromboGenics is conducting the CIRCLE study, a Phase II clinical trial
evaluating multiple doses of THR-409 (ocriplasmin) to induce a total Posterior
Vitreous Detachment in patients with Non-Proliferative Diabetic Retinopathy
(NPDR).
THR-317, a PIGF inhibitor being developed to treat diabetic macular edema, or as
a combination therapy with anti-VEGF treatments, enrolled its first patient in a
phase II clinical study in January 2017. In addition, THR-149, a plasma
kallikrein inhibitor, which has resulted from research collaboration with
Bicycle Therapeutics, and THR-687, an integrin antagonist, which was in-licensed
from Galapagos, are in late stage pre-clinical development.
ThromboGenics pioneered a new drug category of pharmacological vitreolysis with
JETREA® (ocriplasmin) which is now approved for the treatment of vitreomacular
traction in 54 countries worldwide. ThromboGenics is commercializing JETREA(®)
via its subsidiary ThromboGenics, Inc. in the US. Novartis commercializes
JETREA(®) outside the United States.
ThromboGenics is headquartered in Leuven, Belgium, and is listed on the NYSE
Euronext Brussels exchange under the symbol THR. More information is available
at www.thrombogenics.com
Important information about forward-looking statements (BioInvent International
AB)
The press release contains statements about the future, consisting of subjective
assumptions and forecasts for future scenarios. Predictions for the future only
apply as the date they are made and are, by their very nature, in the same way
as research and development work in the biotech segment, associated with risk
and uncertainty. With this in mind, the actual outcome may deviate significantly
from the scenarios described in this press release.
This information is information that BioInvent International AB is obliged to
make public pursuant to the EU Market Abuse Regulation. The information was
submitted for publication, through the agency of the contact person set out
above, at 7.30 a.m. CET, on 10 July, 2017.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ThromboGenics NV via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 10.07.2017 - 07:30 Uhr
Sprache: Deutsch
News-ID 551527
Anzahl Zeichen: 7731
contact information:
Town:
Leuven
Kategorie:
Business News
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"BioInvent and ThromboGenics Amending Long-Standing Monoclonal Antibody Development Agreement"
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