STOCKHOLM, Sweden I June 17, 2013 I Athera Biotechnologies AB today announced that future development costs of its fully human antibody PC-mAb up until proof-of-concept will be co-funded by the European Union’s Seventh Framework Programme for Research (FP7) through a collaborative research grant. Karolinska Development AB (KDEV.ST) owns 65% of Athera Biotechnologies AB.
Athera’s fully human monoclonal antibody PC-mAb is targeting phosphorylcholine and is being developed for the treatment of patients with an increased risk of atherosclerosis related cardiovascular events and death. This includes myocardial infarction patients and patients with peripheral arterial disease undergoing vein graft surgery.
“The grant underpins the level of innovation of the PC-mAb project and will substantially contribute to the pace of the future development”, comments Torbjörn Bjerke, CEO of Karolinska Development.
The EUR 6m grant has been provided to the CARDIMMUN consortium, consisting of Athera, Leiden University Medical Center (LUMC), Turku PET Center (Turku University), Clinical Trial Consultants (CTC) and Smerud Medical Research. The project has a total budget of nearly EUR 8m and will be running over three years, focusing on key preclinical activities and clinical trials aimed at demonstrating proof-of-concept of this new cardiovascular treatment. LUMC is the project coordinator and will be leading the project together with Athera.
“I am very pleased that Athera is part of the CARDIMMUN consortium and thereby receives support from the FP7. With this non-dilutive funding, Athera will be able to take its proprietary monoclonal antibody PC-mAb through major milestones”, says Carina Schmidt, CEO of Athera Biotechnologies.
TO THE EDITORS
About Athera Biotechnologies AB
Athera has a unique and in-depth understanding of the immunological components in atherosclerosis, the inflammatory process leading to cardiovascular disease (CVD). The lead product candidate, PC-mAb, is in late preclinical development. In addition, Athera has developed a biomarker and companion diagnostic CVDefine® kit. Low levels of the biomarker, anti-PC, is linked to increased risk for cardiovascular disease and could in the future be used for identification of patients that benefit from Athera’s novel therapeutics. For more information, please visit www.athera.se.
About Karolinska Development AB
Karolinska Development aims to create value for patients, researchers, and investors by developing innovations from world class science into products that can be sold or out-licensed with high returns. The business model is to: SELECT the most commercially attractive medical innovations; DEVELOP innovations to the stage where the greatest return on investment can be achieved; and COMMERCIALIZE the innovations through the sale of companies or out-licensing of products. An exclusive deal flow agreement with Karolinska Institutet Innovations AB, along with other cooperation agreements with leading universities, delivers a continuous flow of innovations. Today, the portfolio consists of 36 projects, of which 15 are in clinical development. For more information, please visit www.karolinskadevelopment.com.
About PC-mAb
Naturally occurring antibodies to phosphorylcholine (anti-PC) have anti-inflammatory properties and prevent the uptake of oxidized LDL in macrophages. So does PC-mAb from Athera, a unique fully human monoclonal antibody developed for Athera by Dyax Corp. in Boston, USA, and which is currently in late pre-clinical development. PC-mAb is aimed at restoring cardio-protective levels of anti-PC and thereby preventing secondary CVD events.
About FP7
FP7 (7th Framework Programme for Research and Technological Development) is a key tool for the European Commission to respond to Europe’s needs in terms of jobs and competitiveness, and to maintain leadership in the global knowledge economy. The programme has a total budget of over EUR 50bn, which will (for the most part) be spent on grants to research activities all over Europe and beyond, in order to co-finance research, technological development and demonstration projects. Grants are determined on the basis of calls for proposals and a peer review process, which are highly competitive.
SOURCE: Athera Biotechnologies
Post Views: 50
STOCKHOLM, Sweden I June 17, 2013 I Athera Biotechnologies AB today announced that future development costs of its fully human antibody PC-mAb up until proof-of-concept will be co-funded by the European Union’s Seventh Framework Programme for Research (FP7) through a collaborative research grant. Karolinska Development AB (KDEV.ST) owns 65% of Athera Biotechnologies AB.
Athera’s fully human monoclonal antibody PC-mAb is targeting phosphorylcholine and is being developed for the treatment of patients with an increased risk of atherosclerosis related cardiovascular events and death. This includes myocardial infarction patients and patients with peripheral arterial disease undergoing vein graft surgery.
“The grant underpins the level of innovation of the PC-mAb project and will substantially contribute to the pace of the future development”, comments Torbjörn Bjerke, CEO of Karolinska Development.
The EUR 6m grant has been provided to the CARDIMMUN consortium, consisting of Athera, Leiden University Medical Center (LUMC), Turku PET Center (Turku University), Clinical Trial Consultants (CTC) and Smerud Medical Research. The project has a total budget of nearly EUR 8m and will be running over three years, focusing on key preclinical activities and clinical trials aimed at demonstrating proof-of-concept of this new cardiovascular treatment. LUMC is the project coordinator and will be leading the project together with Athera.
“I am very pleased that Athera is part of the CARDIMMUN consortium and thereby receives support from the FP7. With this non-dilutive funding, Athera will be able to take its proprietary monoclonal antibody PC-mAb through major milestones”, says Carina Schmidt, CEO of Athera Biotechnologies.
TO THE EDITORS
About Athera Biotechnologies AB
Athera has a unique and in-depth understanding of the immunological components in atherosclerosis, the inflammatory process leading to cardiovascular disease (CVD). The lead product candidate, PC-mAb, is in late preclinical development. In addition, Athera has developed a biomarker and companion diagnostic CVDefine® kit. Low levels of the biomarker, anti-PC, is linked to increased risk for cardiovascular disease and could in the future be used for identification of patients that benefit from Athera’s novel therapeutics. For more information, please visit www.athera.se.
About Karolinska Development AB
Karolinska Development aims to create value for patients, researchers, and investors by developing innovations from world class science into products that can be sold or out-licensed with high returns. The business model is to: SELECT the most commercially attractive medical innovations; DEVELOP innovations to the stage where the greatest return on investment can be achieved; and COMMERCIALIZE the innovations through the sale of companies or out-licensing of products. An exclusive deal flow agreement with Karolinska Institutet Innovations AB, along with other cooperation agreements with leading universities, delivers a continuous flow of innovations. Today, the portfolio consists of 36 projects, of which 15 are in clinical development. For more information, please visit www.karolinskadevelopment.com.
About PC-mAb
Naturally occurring antibodies to phosphorylcholine (anti-PC) have anti-inflammatory properties and prevent the uptake of oxidized LDL in macrophages. So does PC-mAb from Athera, a unique fully human monoclonal antibody developed for Athera by Dyax Corp. in Boston, USA, and which is currently in late pre-clinical development. PC-mAb is aimed at restoring cardio-protective levels of anti-PC and thereby preventing secondary CVD events.
About FP7
FP7 (7th Framework Programme for Research and Technological Development) is a key tool for the European Commission to respond to Europe’s needs in terms of jobs and competitiveness, and to maintain leadership in the global knowledge economy. The programme has a total budget of over EUR 50bn, which will (for the most part) be spent on grants to research activities all over Europe and beyond, in order to co-finance research, technological development and demonstration projects. Grants are determined on the basis of calls for proposals and a peer review process, which are highly competitive.
SOURCE: Athera Biotechnologies
Post Views: 50
