NIJMEGEN, The Netherlands and COPENHAGEN, Denmark I December 17, 2018 IStaten Biotechnology B.V. and Novo Nordisk today announced that they have entered into a collaboration and exclusive option agreement to develop novel therapeutics for the treatment of hypertriglyceridaemia.
Under the collaboration agreement, Novo Nordisk will provide research and development (R&D) funding and support for Staten to develop its lead asset STT-5058 for treatment of dyslipidaemia.
“Novo Nordisk is joining forces with Staten Biotechnology at an exciting time for us, with the company’s lead compound moving towards its first clinical trial, aiming to address the residual cardiovascular risk in patients with hypertriglyceridaemia,” said Dr Hilde Steineger, CEO of Staten Biotechnology. “This partnership provides the company not only with a knowledgeable development partner but also with a funding structure that allows founders, management and the founding investors to accelerate the development of company”.
“Our partnership with Staten Biotechnology is a key step in executing our strategic priority to expand into cardiovascular diseases. Hypertriglyceridemia is a serious risk factor for cardiovascular disease, in particular often present in people with diabetes and obesity. Staten Biotechnology has developed STT-5058, a new promising concept validated by human genetics, for the treatment of hypertriglyceridemia. Combining Staten’s know-how on STT-5058, the scientific excellence of the company’s executive team and founders, with Novo Nordisk experience in drug development and commercialization, the project holds potential to make a real difference for people suffering from cardiovascular disease,” said Marcus Schindler, Senior Vice President, Global Drug Discovery in Novo Nordisk.
Under the exclusive option agreement, Novo Nordisk has the right to acquire Staten Biotechnology and gain worldwide rights to STT-5058. Staten Biotechnology and its shareholders will potentially receive signing and exercise fees, R&D funding, and milestone payments of up to 430 million euros.
About Staten Biotechnology
Staten Biotechnology develops novel and innovative strategies for the treatment of dyslipidemia, with a focus on hypertriglyceridemia treatment. With a unique approach towards neutralizing ApoC3, a key molecule in dyslipidaemia management, Staten Biotechnology is developing STT-5058, a humanized, monoclonal antibody, licensed from its co-development partner argenx (Euronext & Nasdaq: ARGX). This “recycling” antibody with extended half-life has the potential to lower triglyceride levels, and increase clearance of ApoC3-containing atherogenic particles. Multiple studies have identified ApoC3 levels to be inversely associated with a favourable lipid profile and insulin resistance, both key components in managing residual cardiovascular risk. BioGeneration Ventures (BGV) provided the company’s seed financing in 2014 and Forbion led the Series A round in 2015, as the sole new investor. Staten is a prime example of Forbion’s and BGV’s company building activities, growing great scientific ideas into promising companies. https://www.statenbiotech.com/
About Novo Nordisk
Novo Nordisk is a global healthcare company with 95 years of innovation and leadership in diabetes care. This heritage has given us experience and capabilities that also enable us to help people defeat obesity, haemophilia, growth disorders and other serious chronic diseases. Headquartered in Denmark, Novo Nordisk employs approximately 43,200 people in 79 countries and markets its products in more than 170 countries. For more information, visit novonordisk.com, Facebook, Twitter, LinkedIn, YouTube.
SOURCE: Staten Biotech
Post Views: 547
NIJMEGEN, The Netherlands and COPENHAGEN, Denmark I December 17, 2018 IStaten Biotechnology B.V. and Novo Nordisk today announced that they have entered into a collaboration and exclusive option agreement to develop novel therapeutics for the treatment of hypertriglyceridaemia.
Under the collaboration agreement, Novo Nordisk will provide research and development (R&D) funding and support for Staten to develop its lead asset STT-5058 for treatment of dyslipidaemia.
“Novo Nordisk is joining forces with Staten Biotechnology at an exciting time for us, with the company’s lead compound moving towards its first clinical trial, aiming to address the residual cardiovascular risk in patients with hypertriglyceridaemia,” said Dr Hilde Steineger, CEO of Staten Biotechnology. “This partnership provides the company not only with a knowledgeable development partner but also with a funding structure that allows founders, management and the founding investors to accelerate the development of company”.
“Our partnership with Staten Biotechnology is a key step in executing our strategic priority to expand into cardiovascular diseases. Hypertriglyceridemia is a serious risk factor for cardiovascular disease, in particular often present in people with diabetes and obesity. Staten Biotechnology has developed STT-5058, a new promising concept validated by human genetics, for the treatment of hypertriglyceridemia. Combining Staten’s know-how on STT-5058, the scientific excellence of the company’s executive team and founders, with Novo Nordisk experience in drug development and commercialization, the project holds potential to make a real difference for people suffering from cardiovascular disease,” said Marcus Schindler, Senior Vice President, Global Drug Discovery in Novo Nordisk.
Under the exclusive option agreement, Novo Nordisk has the right to acquire Staten Biotechnology and gain worldwide rights to STT-5058. Staten Biotechnology and its shareholders will potentially receive signing and exercise fees, R&D funding, and milestone payments of up to 430 million euros.
About Staten Biotechnology
Staten Biotechnology develops novel and innovative strategies for the treatment of dyslipidemia, with a focus on hypertriglyceridemia treatment. With a unique approach towards neutralizing ApoC3, a key molecule in dyslipidaemia management, Staten Biotechnology is developing STT-5058, a humanized, monoclonal antibody, licensed from its co-development partner argenx (Euronext & Nasdaq: ARGX). This “recycling” antibody with extended half-life has the potential to lower triglyceride levels, and increase clearance of ApoC3-containing atherogenic particles. Multiple studies have identified ApoC3 levels to be inversely associated with a favourable lipid profile and insulin resistance, both key components in managing residual cardiovascular risk. BioGeneration Ventures (BGV) provided the company’s seed financing in 2014 and Forbion led the Series A round in 2015, as the sole new investor. Staten is a prime example of Forbion’s and BGV’s company building activities, growing great scientific ideas into promising companies. https://www.statenbiotech.com/
About Novo Nordisk
Novo Nordisk is a global healthcare company with 95 years of innovation and leadership in diabetes care. This heritage has given us experience and capabilities that also enable us to help people defeat obesity, haemophilia, growth disorders and other serious chronic diseases. Headquartered in Denmark, Novo Nordisk employs approximately 43,200 people in 79 countries and markets its products in more than 170 countries. For more information, visit novonordisk.com, Facebook, Twitter, LinkedIn, YouTube.
SOURCE: Staten Biotech
Post Views: 547
