SAN JUAN CAPISTRANO, CA, USA & OSAKA, Japan I May 2, 2013 I Allegro Ophthalmics, LLC and Senju Pharmaceutical Co., Ltd. today announced that they have entered into a collaboration and license agreement to develop and market Allegro’s Integrin Peptide Therapy in Japan. With this collaboration, Allegro and Senju aim to improve the quality of life for patients worldwide who continue to be at risk of blindness from vascular eye diseases by establishing Integrin Peptide Therapy as the first-in-class treatment targeting integrin with an oligopeptide.
Under the terms of the agreement, Senju will acquire the rights to co-develop and market Allegro’s Integrin Peptide Therapy in Japan as an intravitreal injection for vascular eye diseases such as wet age-related macular degeneration (AMD) and diabetic macular edema (DME). In exchange for these rights, Senju has agreed to pay Allegro an eight-digit upfront license fee, additional development and sales milestone fees, and a percentage royalty on net sales.
“Allegro is very pleased to have formed this strategic partnership with one of the leading ophthalmic pharmaceutical companies in Japan,” said Marc Kirshbaum, Chief Operating Officer, Allegro Ophthalmics. “In addition to validating the potential of Integrin Peptide Therapy as an additional treatment option for millions of patients at risk of blindness, this partnership provides Allegro with the capital required to significantly progress its clinical program across multiple indications and phases in the United States.”
Senju had a similarly positive outlook on the relationship. “The announcement of this partnership with Allegro further evidences Senju’s commitment to its position as a leader in ophthalmology in Japan,” said Shuhei Yoshida, Executive Vice President of Senju Pharmaceutical. “We believe that Allegro’s Integrin Peptide Therapy shows great promise as a first-in-class treatment for Wet AMD, DME, and other vascular eye indications, and we are eager to begin the process for regulatory approval in Japan.”
Summit Pharmaceuticals International, a subsidiary of Sumitomo Corporation, served as advisor to Allegro in connection with this transaction.
Allegro recently announced that it completed enrollment of a Phase Ib/IIa study in Wet AMD patients as stand-alone therapy, and commencement of a Phase Ib/IIa in combination with anti-VEGF therapy. These two human studies are in addition to a previous Phase I study in end-stage DME patients. All data from human studies, as well as studies in animals, show Integrin Peptide Therapy to be safe, well-tolerated and efficacious, including the fact that the benefit of mono-therapy is holding at least three months off-treatment in both Wet AMD and DME patients.
About Integrin Peptide Therapy
Integrin Peptide Therapy, a novel approach to treating vascular eye diseases, utilizes an oligopeptide discovered by Allegro’s founders in collaboration with Caltech. Integrin Peptide Therapy uniquely approaches multiple indications by collectively turning off the production of aberrant blood vessels, reducing the leakage of aberrant blood vessels, and inhibiting the growth of aberrant blood vessels. This novel approach has the potential to be both an effective stand-alone treatment as well as complementary to existing standard of care due to its unique mechanism of action.
To learn more about Allegro and Integrin Peptide Therapy, please visit http://www.allegroeye.com or contact Allegro’s Chief Operating Officer, Marc Kirshbaum, at mkirshbaum@allegroeye.com.
About Allegro Ophthalmics, LLC
With more than 100 years of combined experience in vision science and medicine, the leadership team at Allegro Ophthalmics, LLC is establishing Integrin Peptide Therapy as the next-generation pharmaceutical category for the treatment of wet age-related macular degeneration, diabetic retinopathy and diabetic macular edema, which together affect nearly six million Americans. Allegro Ophthalmics seeks to prevent vision loss and combat blindness, potentially offering millions an improved quality of life sustained by self-sufficient, functional vision.
About Senju Pharmaceutical Co., Ltd.
Established in 1947 and headquartered in Osaka, Japan, Senju Pharmaceutical Co., Ltd., is a company that develops, manufactures, and commercializes a variety of innovative products on a global basis, specializing in ophthalmic preparations.
SOURCE: Allegro Ophthalmics
