NEOVACS ANNOUNCES THE CONTINUATION OF THE DEVELOPMENT OF ITS IFNalpha KINOID IN SOUTH KOREA WITH ITS PARTNER CHONG KUN DANG (...
11 Octobre 2018 - 7:00AM
PRESS RELEASE
· PRESS RELEASE · PRESS RELEASE
NEOVACS ANNOUNCES
THE CONTINUATION OF THE DEVELOPMENT OF ITS IFNalpha KINOID IN SOUTH KOREA WITH ITS
PARTNER CHONG KUN DANG (CKD) PHARMACEUTICALS
Both partners have
agreed to prepare the filing for an Orphan Drug Designation
(ODD)
Paris and Boston,
the 11th of October
2018 - 07:00 AM CEST- Neovacs (Euronext Growth Paris ALNEV),
leader in active immunotherapy for the treatment of auto-immune
diseases, today announces the continuation of the development of
its IFNalpha Kinoid in South Korea with its partner Chong Kun Dang (CKD) Pharmaceutical Corp, on the basis
of the licensing agreement signed in December 2015, for a potential
overall value of 5M€. This agreement covers the development and the
commercialization of IFNalpha Kinoid in South Korea for Lupus and
Dermatomyositis indications.
Within this agreement both
partners have agreed to prepare the filing for an "ODD" in South
Korea, based on the results of the Phase IIb trial in Lupus with
IFNalpha Kinoid.
Neovacs had already received in
2016 an "Investigational New Drug" (IND) of
South Korean Health authorities to include 5 investigational
centers in its global Phase IIb trial for IFNalpha Kinoid. Neovacs
was able therefore to gain the support of Korean Opinion Leaders in
Lupus for its innovative therapeutic approach and to include Korean
patients in the study.
« We are
pleased with these results which represent a major progress in the
research of a treatment for Lupus and the time is approaching when
we will be able to offer a satisfying treatment to patients. We are
satisfied to continue this partnership and will now make our best
efforts to accelerate the development of IFNalpha Kinoid in South Korea
within the specific status of this indication in
the Korean legislation » declares Young Joo Kim, President
of CKD»
« We are
delighted that our Korean partner shares our
appraisal of the trial results and are confident for the future
development of IFNalpha Kinoid in South Korea » concludes Miguel Sieler,
CEO of Neovacs.
Neovacs will receive potentially
up to 5 million euros in total under this license agreement in
sequenced payments, based on the achievement of certain milestones,
which include the Phase IIb results.
About Chong Kun
Dang Pharmaceutical Corp.
Founded in 1941, CKD is a fully integrated pharmaceutical company
employing over 2,000 people. It is one of the leading local pharma
companies in Korea and through in-licensing and in-house R&D,
it has significantly contributed to improving health and quality of
life of people mainly in Korea for more than 70 years.
Domestically, it has a strong presence in cardiovascular and
immunosuppressant areas and has local offices established in
Vietnam and Indonesia. As a leading pharma in Immunosuppressants in
Korea, CKD continues to strengthen its major therapeutic area by
its R&D capability and licensing-in innovative drugs from
business partners worldwide.
http://www.ckdpharm.com/eng/company
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
Contacts
NEOVACS -
Corporate Communication & Investor Relations
Charlène Masson
+33 1 53 10 93 00
cmasson@neovacs.com
Press release
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: NEOVACS via Globenewswire
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