Principia Biopharma Reacquires Rights to Oral Immunoproteasome Program

-- Principia and AbbVie mutually agree to end collaboration --
-- Preclinical stage program focused on development of oral immunoproteasome inhibitors to treat inflammation and autoimmune disorders --

SOUTH SAN FRANCISCO, CA, USA I March 11, 2019 I Principia Biopharma Inc. (Nasdaq: PRNB), a late-stage biopharmaceutical company dedicated to bringing transformative oral therapies to patients with significant unmet medical needs in immunology and oncology, announced a mutual agreement with AbbVie Biotechnology Limited (AbbVie) to end their collaboration aimed at developing oral immunoproteasome inhibitors and for Principia to reacquire the rights to the program.  The two companies have agreed to conclude the collaboration effective March 2019.

"AbbVie has completed an initial evaluation of Principia’s highly selective, orally bioavailable covalent inhibitors of the immunoproteasome and, after an assessment of their biologic profiles relative to AbbVie’s desired disease areas of focus, has determined that there is no longer a strategic fit,” said Martin Babler, Chief Executive Officer of Principia. “Re-acquiring these rights will allow us to pursue multiple opportunities to treat inflammation and autoimmune disorders through selective immunoproteasome inhibition.”

“We are grateful for AbbVie’s support and contributions in what was a highly productive and collaborative relationship resulting in the discovery of new biology,” said David Goldstein, Ph.D., Chief Scientific Officer of Principia. “With the program in advanced lead optimization, regaining worldwide rights provides Principia with the opportunity to capture the full value of the program and to select the optimal development path for these highly differentiated assets.”

Principia Biopharma and AbbVie initiated their collaboration in 2017 to jointly research and develop selective oral immunoproteasome inhibitors to target autoimmunity. Since 2017, both AbbVie and Principia have contributed to the program’s overall knowledge base, discovering new science with Principia’s highly specific molecules, and advancing into later stages of preclinical lead optimization. Principia has now reacquired all rights and intellectual property from the collaboration and there are no further financial obligations of either party. 
                      
About Principia Biopharma
Principia is a late-stage biopharmaceutical company dedicated to bringing transformative oral therapies to patients with significant unmet medical needs in immunology and oncology. Principia’s proprietary Tailored Covalency® platform enables Principia to design and develop reversible and irreversible covalent, small molecule inhibitors with potencies and selectivities that have the potential to rival those of injectable biologics yet maintain the convenience of a pill. PRN1008, a reversible covalent BTK inhibitor, is being evaluated in a Phase 3 clinical trial in patients with pemphigus, an orphan autoimmune disease, and in a Phase 2 clinical trial in patients with immune thrombocytopenic purpura, a rare hematological disease. PRN2246, a covalent BTK inhibitor which crosses the blood-brain barrier, has completed a Phase 1 clinical trial in healthy volunteers, and has been partnered with Sanofi for development in multiple sclerosis and, potentially, for other diseases of the central nervous system. PRN1371, a covalent inhibitor of Fibroblast Growth Factor Receptor (FGFR) is being evaluated in a Phase 1 trial in patients with bladder cancer. For more information, please visit www.principiabio.com.

SOURCE: Principia Biopharma

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