BARCELONA, Spain and CAMBRIDGE, MA, USA I July 20, 2017 I Oryzon Genomics (ISIN Code: ES0167733015) (MAD: ORY), a public clinical-stage biopharmaceutical company leveraging epigenetics to develop therapies in diseases with strong unmet medical need, announced that yesterday evening Roche informed Oryzon that due to a portfolio prioritization, it has decided to discontinue its involvement in the clinical development of the investigational Lysine Specific Demethylase-1 (LSD1) inhibitor ORY-1001 (RG6016) for the treatment of patients with acute myeloid leukemia (AML) and solid tumors pursuant to the license agreement between Oryzon and Roche dated April 1st, 2014.
As a consequence of such decision, the rights that Oryzon had licensed to Roche with respect to ORY-1001 will revert to Oryzon when the termination of the license agreement becomes effective. Also pursuant to the terms of the license agreement, Roche is committed to finalize the ongoing Phase I in small cell lung cancer (SCLC) following the clinical development plan, which is expected to occur in the following months.
“We are obviously disappointed by this decision,” said Carlos Buesa, Chief Executive Officer of Oryzon. “We have been informed that the decision was not data driven but a consequence of internal reprioritization of Roche’s pipeline. During the next weeks, Oryzon will focus its efforts to regain the control of the asset as soon as possible to ensure the continuation of the clinical development plan without interruptions. We are fully committed to develop ORY-1001, a first-in-class, best-in-class LSD1 inhibitor that we believe has a clear potential in a broad range of tumors.”
The terms of the license agreement with Roche can be found in the Company’s S1 (Documento de Registro) filed at the CNMV and at https://www.oryzon.com/en/investors/share-information/share-issues
About Oryzon
Founded in 2000 in Barcelona, Spain, Oryzon (ISIN Code: ES0167733015) is a clinical stage biopharmaceutical company considered as the European champion in Epigenetics. The company has one of the strongest portfolios in the field. Oryzon’s LSD1 program is currently covered by + 20 patent families and has rendered two compounds in clinical trials. In addition, Oryzon has ongoing programs for developing inhibitors against other epigenetic targets. The company has a strong technological platform for biomarker identification and performs biomarker and target validation for a variety of malignant and neurodegenerative diseases. Oryzon’s strategy is to develop first in class compounds against novel epigenetic targets through Phase II clinical trials, at which point it is decided on a case-by-case basis to either keep the development in-house or to partner or outlicense the compound for late stage development and commercialization. The company has offices in Barcelona and Cambridge, Massachusetts. For more information, visit www.oryzon.com.
SOURCE: Oryzon
Post Views: 133
BARCELONA, Spain and CAMBRIDGE, MA, USA I July 20, 2017 I Oryzon Genomics (ISIN Code: ES0167733015) (MAD: ORY), a public clinical-stage biopharmaceutical company leveraging epigenetics to develop therapies in diseases with strong unmet medical need, announced that yesterday evening Roche informed Oryzon that due to a portfolio prioritization, it has decided to discontinue its involvement in the clinical development of the investigational Lysine Specific Demethylase-1 (LSD1) inhibitor ORY-1001 (RG6016) for the treatment of patients with acute myeloid leukemia (AML) and solid tumors pursuant to the license agreement between Oryzon and Roche dated April 1st, 2014.
As a consequence of such decision, the rights that Oryzon had licensed to Roche with respect to ORY-1001 will revert to Oryzon when the termination of the license agreement becomes effective. Also pursuant to the terms of the license agreement, Roche is committed to finalize the ongoing Phase I in small cell lung cancer (SCLC) following the clinical development plan, which is expected to occur in the following months.
“We are obviously disappointed by this decision,” said Carlos Buesa, Chief Executive Officer of Oryzon. “We have been informed that the decision was not data driven but a consequence of internal reprioritization of Roche’s pipeline. During the next weeks, Oryzon will focus its efforts to regain the control of the asset as soon as possible to ensure the continuation of the clinical development plan without interruptions. We are fully committed to develop ORY-1001, a first-in-class, best-in-class LSD1 inhibitor that we believe has a clear potential in a broad range of tumors.”
The terms of the license agreement with Roche can be found in the Company’s S1 (Documento de Registro) filed at the CNMV and at https://www.oryzon.com/en/investors/share-information/share-issues
About Oryzon
Founded in 2000 in Barcelona, Spain, Oryzon (ISIN Code: ES0167733015) is a clinical stage biopharmaceutical company considered as the European champion in Epigenetics. The company has one of the strongest portfolios in the field. Oryzon’s LSD1 program is currently covered by + 20 patent families and has rendered two compounds in clinical trials. In addition, Oryzon has ongoing programs for developing inhibitors against other epigenetic targets. The company has a strong technological platform for biomarker identification and performs biomarker and target validation for a variety of malignant and neurodegenerative diseases. Oryzon’s strategy is to develop first in class compounds against novel epigenetic targets through Phase II clinical trials, at which point it is decided on a case-by-case basis to either keep the development in-house or to partner or outlicense the compound for late stage development and commercialization. The company has offices in Barcelona and Cambridge, Massachusetts. For more information, visit www.oryzon.com.
SOURCE: Oryzon
Post Views: 133
