Affibody signed a license and collaboration agreement with Algeta with the aim of developing new tumor-targeting alpha-pharmaceutical candidates based on the alpha particle emitter thorium-227
Stockholm, SWEDEN | May 4, 2011 | Affibody AB today signed a license and collaboration agreement with Algeta ASA (OSE: ALGETA) with the aim of developing new tumor-targeting alpha-pharmaceutical candidates based on the alpha particle emitter thorium-227. Through the agreement Algeta exclusively licenses Affibody’s two proprietary technology platforms Affibody® molecules and Albumod™ for two targets within the oncology field, HER2 and PDGFRβ. Affibody® molecules are a novel class of antibody mimetics that are excellent payload carriers and may in addition have potential efficacy, safety, and administration route benefits. Albumod™ is designed to enhance the efficacy of biopharmaceuticals by extending their circulatory half-life.
The agreement with Algeta includes an upfront payment plus further payments based upon the achievement of certain milestones as well as royalties on sales. Algeta will be responsible for the costs associated with the future development of the products.
About Affibody
Affibody is a Swedish biotech company focused on developing next generation biopharmaceuticals based on its unique proprietary technology platforms: Affibody® molecules and Albumod™. Affibody is developing a portfolio of innovative drug projects and, in addition, offers the halflife extension technology, Albumod™, for outlicensing. Affibody has ongoing commercial relationships with several companies including Amylin, Swedish Orphan Biovitrum, GE, and Thermo Fisher. Affibody was founded in 1998 by researchers from the Royal Institute of Technology and the Karolinska Institute and is based in Stockholm, Sweden. Major shareholders in the Company include HealthCap and Investor Growth Capital. Further information can be found at: www.affibody.com
About Algeta
Algeta is a company focused on developing novel targeted therapies for patients with cancer based on its alpha-pharmaceutical platform. Algeta’s lead product Alpharadin (based on radium-223) is a first-in-class, highly targeted alpha-pharmaceutical under clinical evaluation to improve survival in patients with bone metastases from advanced cancer. Its localized action helps preserve the surrounding healthy tissue thereby limiting side-effects.
The development of bone metastases represents a serious development for cancer patients as they are associated with a dramatic decline in patient health and quality of life, ultimately leading to death. Bone metastases represent a major unmet medical need, occurring in up to 90% of certain late-stage cancers, e.g. prostate, breast and lung. Alpharadin is being developed under a development and commercialization agreement with Bayer Schering Pharma AG, a major pharmaceutical company, and is in a global phase III clinical trial (ALSYMPCA) to treat bone metastases resulting from castration-resistant prostate cancer (CRPC). Alpharadin is also under investigation in phase II clinical trials as a potential new treatment for bone metastases in endocrine-refractory breast cancer patients, and in a phase I/IIa trial in combination with docetaxel chemotherapy in for bone metastases CRPC patients.
Algeta also aims to develop a future pipeline of tumor-targeting alpha-pharmaceutical candidates based on the alpha particle emitter thorium-227, through selective in-licensing and/or acquiring innovative technologies and tumor-targeting molecules. The Company is headquartered in Oslo, Norway, and was founded in 1997. Algeta listed on the Oslo Stock Exchange in March 2007 (Ticker: ALGETA). Alpharadin and Algeta are trademarks of Algeta ASA.
SOURCE: Affibody AB
Post Views: 89
Affibody signed a license and collaboration agreement with Algeta with the aim of developing new tumor-targeting alpha-pharmaceutical candidates based on the alpha particle emitter thorium-227
Stockholm, SWEDEN | May 4, 2011 | Affibody AB today signed a license and collaboration agreement with Algeta ASA (OSE: ALGETA) with the aim of developing new tumor-targeting alpha-pharmaceutical candidates based on the alpha particle emitter thorium-227. Through the agreement Algeta exclusively licenses Affibody’s two proprietary technology platforms Affibody® molecules and Albumod™ for two targets within the oncology field, HER2 and PDGFRβ. Affibody® molecules are a novel class of antibody mimetics that are excellent payload carriers and may in addition have potential efficacy, safety, and administration route benefits. Albumod™ is designed to enhance the efficacy of biopharmaceuticals by extending their circulatory half-life.
The agreement with Algeta includes an upfront payment plus further payments based upon the achievement of certain milestones as well as royalties on sales. Algeta will be responsible for the costs associated with the future development of the products.
About Affibody
Affibody is a Swedish biotech company focused on developing next generation biopharmaceuticals based on its unique proprietary technology platforms: Affibody® molecules and Albumod™. Affibody is developing a portfolio of innovative drug projects and, in addition, offers the halflife extension technology, Albumod™, for outlicensing. Affibody has ongoing commercial relationships with several companies including Amylin, Swedish Orphan Biovitrum, GE, and Thermo Fisher. Affibody was founded in 1998 by researchers from the Royal Institute of Technology and the Karolinska Institute and is based in Stockholm, Sweden. Major shareholders in the Company include HealthCap and Investor Growth Capital. Further information can be found at: www.affibody.com
About Algeta
Algeta is a company focused on developing novel targeted therapies for patients with cancer based on its alpha-pharmaceutical platform. Algeta’s lead product Alpharadin (based on radium-223) is a first-in-class, highly targeted alpha-pharmaceutical under clinical evaluation to improve survival in patients with bone metastases from advanced cancer. Its localized action helps preserve the surrounding healthy tissue thereby limiting side-effects.
The development of bone metastases represents a serious development for cancer patients as they are associated with a dramatic decline in patient health and quality of life, ultimately leading to death. Bone metastases represent a major unmet medical need, occurring in up to 90% of certain late-stage cancers, e.g. prostate, breast and lung. Alpharadin is being developed under a development and commercialization agreement with Bayer Schering Pharma AG, a major pharmaceutical company, and is in a global phase III clinical trial (ALSYMPCA) to treat bone metastases resulting from castration-resistant prostate cancer (CRPC). Alpharadin is also under investigation in phase II clinical trials as a potential new treatment for bone metastases in endocrine-refractory breast cancer patients, and in a phase I/IIa trial in combination with docetaxel chemotherapy in for bone metastases CRPC patients.
Algeta also aims to develop a future pipeline of tumor-targeting alpha-pharmaceutical candidates based on the alpha particle emitter thorium-227, through selective in-licensing and/or acquiring innovative technologies and tumor-targeting molecules. The Company is headquartered in Oslo, Norway, and was founded in 1997. Algeta listed on the Oslo Stock Exchange in March 2007 (Ticker: ALGETA). Alpharadin and Algeta are trademarks of Algeta ASA.
SOURCE: Affibody AB
Post Views: 89
