EvoGenix and Vegenics announce antibody collaboration
MELBOURNE, Australia | Feb 27, 2007 | Antibody therapeutics company EvoGenix Limited (ASX:EGX) and Melbourne-based biotechnology company Vegenics Limited (65% owned by Circadian Technologies Limited ASX:CIR) today announced that they had entered into a Technology Collaboration agreement. EvoGenix will apply its proprietary technologies for antibody humanisation and optimisation to assist Vegenics in developing an antibody therapeutic product targeting VEGF-D. The collaboration is designed to generate a superior antibody that can safely enter trials in patients.
Vegenics has developed a strong patent portfolio covering drugs directed against VEGF-D, which may prove to be an important target for treating certain forms of cancer. Vegenics will have the right to commercialise the product developed as a result of the collaboration.
VEGF-D is a mediator in the formation of new blood vessels which are required to provide the nutrients for tumour growth. It is a member of the same protein family that is targeted by Avastin, an anti-cancer antibody marketed by US company Genentech. Avastin has been a highly successful product since its
Under the terms of the agreement, EvoGenix will receive research payments to carry out work on the Vegenics product. Subsequently, EvoGenix will earn milestone payments as the product advances through the subsequent stages of preclinical and clinical testing and regulatory approval and a royalty on product sales subject to marketing approval being received.
The agreement marks the growing interest by Australian healthcare companies in the fast-growing antibody sector, which is seen as the source of many further blockbuster drugs in the future.
In welcoming the agreement, Robert Klupacs, Managing Director of Vegenics commented, “We are delighted to work with EvoGenix on this key product in our portfolio. Their technology capabilities will provide the essential first step to accelerate development of our antibody as a therapeutic agent.”
ADVERTISEMENT
Dr Rob Crombie, VP for Business Development at EvoGenix, noted “EvoGenix is pleased to be assisting with the development of this new cancer product for Vegenics, and to see the growing strength of Australian companies in the antibody sector.”
The agreement is the third collaboration entered by EvoGenix to exploit its proprietary protein and antibody development technologies. Other collaborations are with pharmaceutical giant GlaxoSmithKline and Australian company CSL Ltd. EvoGenix expects to utilise its proprietary technologies in additional selected relationships over the next 2-3 years.
About EvoGenix
EvoGenix Limited (ASX:EGX) has established leading technology capabilities for creating high value antibody therapeutics. The company exploits its capabilities through technology collaborations with partner companies, and also by development in-house of a succession of wholly-owned antibody products.
The EvoGenix technology converts a research-stage antibody, which is often produced in mice, into a high potency therapeutic suitable for long term administration to patients. This is a key value-creating step in antibody development.
The technology consists of two steps:
Superhumanisation™ , which converts a non-human antibody (generally made in mice) into a human-like antibody which can be safely administered to patients without risk of rejection of the treatment
Optimisation, a process of fine-tuning of properties by making and testing small changes in the antibody, to ensure a high potency product with the greatest chance of clinical success.
EvoGenix is progressively building company value by assembling a portfolio of short and longer term revenues resulting from products successfully generated in technology collaborations. At the same time it is progressing its internal product pipeline with current products aimed at the treatment of osteoporosis, lung cancer, melanoma and respiratory infections. Most products will be out-licensed prior to the clinical stage to meet the existing high demand for new antibody products in the pharmaceutical industry.
About Vegenics
Vegenics Limited is an Australian company jointly founded and owned by Circadian Technologies Limited, the New York- based Ludwig Institute for Cancer Research and Licentia Ltd, the commercial arm of the University of Helsinki. Vegenics is developing a pipeline of therapeutics based on antibody and peptide antagonists to the vascular endothelial growth factors, VEGF-C and VEGF-D. The VEGF technology, developed by world renowned Ludwig and Licentia scientists in Australia and Finland, has been exclusively licensed to Vegenics. In addition Vegenics has entered exclusive licensing relationships with Cogenesys Inc in respect of that company’s intellectual property rights to VEGF-C.
About LICR
The Ludwig Institute for Cancer Research is a global non-profit organization committed to improving the understanding and control of cancer through integrated laboratory and clinical discovery employing over 800 scientists in Branches throughout North and South America, Europe and Australia. Leveraging its worldwide network of investigators and the ability to sponsor and conduct its own clinical trials, LICR is actively engaged in translating its discoveries into applications for human benefit.
About Licentia
Licentia Ltd commercialises technologies with IP protection originating from Finnish research institutes and universities, either through licensing or start-up companies. Since its establishment in 2001, Licentia has concluded over 70 licence and related contracts, which have generated income in millions of euros to universities and inventors.
SOURCE: EvoGenix Limited
