NEOVACS ANNOUNCES THAT ITS PARTNER BIOSENSE GLOBAL HAS EXERCISED ITS OPTION TO ACQUIRE THE EXCLUSIVE LICENCE FOR IFNalpha KIN...
11 Septembre 2018 - 7:00AM
PRESS RELEASE
· PRESS RELEASE · PRESS RELEASE
NEOVACS
ANNOUNCES THAT ITS PARTNER BIOSENSE GLOBAL HAS EXERCISED ITS OPTION
TO ACQUIRE THE EXCLUSIVE LICENCE FOR IFNalpha KINOID TO TREAT LUPUS
IN CHINA
Paris and Boston,
11 September 2018 - 07H00am CEST- Neovacs (Euronext Growth Paris
ALNEV), leader in active immunotherapy for the treatment of
auto-immune diseases, today announces that its partner Biosense
Global has exercised its option as stipulated in the license
agreement signed on February 2017 for a global value of up to 65
million euros. This agreement covers the development and
commercialization in China of the therapeutic vaccine IFNalpha
Kinoid for the indication Lupus[1].
The decision by Biosense Global to
exercise their option follows the results of the Phase IIb trial
achieved by Neovacs with its IFNalpha Kinoid in Lupus, which
allows proceeding with the clinical development into phase
III[2].
Biosense Global acquires exclusive
rights to develop and commercialize IFNalpha Kinoid for the
treatment of Lupus in China and confirms their support and
financial contribution to the Chinese part of a global Phase III
program, when it starts within a global licensing agreement.
«The Phase IIb
results have shown the relevance of Neovacs' unique technology of
active immunotherapy in humans. The efficacy demonstrated motivates
us to push ahead with our cooperation. Within trials conducted in
lupus, LLDAS measures the patient disease activity state with the
reduction of steroid use as one of the key components. This is
emerging as a clinically meaningful outcome measure and is gaining
increased support as a study endpoint from opinion leaders and
clinicians in China and globally," explains Andy Li, PhD, CEO
of Biosense Global, by adding: "Achieving
statistically significance with this endpoint is a very important
milestone for the project. We look forward to working with Neovacs
and its other partners to further study the drug in the next stage
of clinical development."
«China is the
second largest pharmaceutical market in the world, where about 1
million people are suffering from this disease[3]. The
pursuit of our cooperation with Biosense Global is a very positive
development, and confirms the worldwide therapeutic potential of
our lead product IFN Kinoid," concludes Miguel Sieler, CEO of
Neovacs.
According to the terms of the
agreement Neovacs will receive a milestone payment following the
exercising of the option. The company continues to pursue its
discussions with other potential partners for a global licensing
agreement.
About Biosense
Global LLC
BioSense is an emerging biotech company established to address the
business needs of the global biopharmaceutical market with a focus
on China, Europe, and the U.S. The company is based in New Jersey
(US) and Suzhou (China). The organization's mission is to bridge
the gap between undercapitalized biopharmaceutical projects,
companies, and investors to add value to its stakeholders and
address significant unmet medical needs. BioSense's expert team of
international biopharma executives and seasoned investors has
extensive experience in developing, registering and commercializing
some of the most successful products in key markets, including, US,
Europe and China, plus the business management and cross-cultural
knowledge while navigating entry into new markets and access to
additional resources and funds.
http://www.biosensegloballlc.com/about/
About
Neovacs
Listed on Euronext Growth since 2010, Neovacs is today a leading
biotechnology company focused on an active immunotherapy technology
platform (Kinoids) with applications in autoimmune and/or
inflammatory diseases. On the basis of the company's proprietary
technology for inducing a polyclonal immune response (covered by
four patent families that potentially run until 2032) Neovacs is
focusing its clinical development efforts on IFNalpha Kinoid, an
immunotherapy being developed for the indication of lupus,
dermatomyositis and also in preclinical trial for Type 1 diabetes.
Neovacs is also conducting preclinical development works on other
therapeutic vaccines in the fields of auto-immune diseases,
oncology and allergies. The goal of the Kinoid approach is to
enable patients to have access to safe treatments with efficacy
that is sustained in these life-long diseases. www.neovacs.fr
Contact
NEOVACS -
Corporate Communication & Investor Relations
Charlène Masson
+33 1 53 10 93 00
cmasson@neovacs.com
[1] Cf. Press Release published February 21, 2017-
https://bit.ly/2LDSG98
[2] Cf. Press Release published July 3 , 2018 -
https://bit.ly/2MLYa2D
[3] https://www.ncbi.nlm.nih.gov/pubmed/21148605
Press release
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The issuer of this announcement warrants that they are solely
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Source: NEOVACS via Globenewswire
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