LUND, Sweden, March 11, 2013 /PRNewswire/ --
NeuroVive, a leading mitochondrial medicine company, announces it has completed the acquisition of a portfolio of novel cyclophilin inhibitors, technology platform assets and related intellectual property rights from the UK biotech company Biotica Ltd. The acquisition of these assets is important strategically as it will allow NeuroVive to broaden and deepen its pipeline of novel mitochondrial medicines. No financial details of the acquisition are being disclosed.
The portfolio of novel cyclophilin inhibitors is from a new class of molecules called Sangamides based on a novel and unique chemistry platform of polyketides around which NeuroVive has also acquired the intellectual property rights. These novel cyclophilin inhibitors are expected to form the basis of the next-generation of NeuroVive products for a broad range of diseases including cardio- and neuroprotection.
NeuroVive is presently developing a portfolio of products to treat important acute cardiovascular and neurological conditions through mitochondrial protection. Its leading products, CicloMulsion® and NeuroSTAT®, are special formulations of the cyclophilin inhibitor cyclosporine for two prioritized indications, the prevention of reperfusion injury following stenting after myocardial infarction and traumatic brain injury respectively. CicloMulsion® is currently in a 1,000 patient Phase III trial assessing its ability to reduce overall mortality and the number of patients developing heart failure following stenting in patients with myocardial infarction. This trial is expected to complete recruitment by the end of 2013.
Mikael Bronnegard, CEO of NeuroVive Pharmaceutical said: "The acquisition of Biotica's pipeline of novel cyclophilin inhibitors will help to maintain NeuroVive's current position as one of the leading mitochondrial medicine companies and developers of cyclophilin inhibitors for cardio- and neuroprotection. These molecules are the most potent compounds for reducing mitochondrial dysfunction we have so far tested and with their novel polyketide chemistry greatly strengthen our product pipeline. Ownership of these Sangamides places NeuroVive in an excellent position to bring to market significantly improved and patent protected follow-on products that will further enhance the role of mitochondrial medicine across a range of diseases."
About NeuroVive Pharmaceutical AB
NeuroVive Pharmaceutical AB (http://www.neurovive.com) a leading mitochondrial medicine company is developing a portfolio of products to treat acute cardiovascular and neurological conditions through mitochondrial protection.
NeuroVive's products are based on the cyclophilin inhibitor cyclosporine and work by preventing the death of mitochondria in distressed cells and the subsequent cascade of intracellular biochemical events that lead to secondary tissue damage following an acute cardiac or traumatic brain injury.
NeuroVive's lead product is CicloMulsion®, the first cyclophilin inhibitor for the treatment of reperfusion injuries following stenting. CicloMulsion® is currently in a 1000 patient Phase III European clinical trial evaluating its ability to reduce reperfusion injuries in patients with myocardial infarction.
NeuroVive is also developing NeuroSTAT®, a cyclophilin inhibitor, which is soon expected to enter a Phase IIa clinical trial in patients with severe traumatic brain injury. Both indications have huge medical need and for which there are currently no approved pharmaceutical treatment options. Both CicloMulsion® and NeuroSTAT® are special formulations of cyclosporine for use in acute cardiac and brain injury indications.
NeuroVive's pipeline includes novel cyclophilin inhibitors and as well drug candidates that act on mitochondria to address energy regulation disorders.
NeuroVive´s shares are listed on the Swedish trading platform AktieTorget (http://www.aktietorget.se). The AktieTorget market is focused on emerging, entrepreneurial businesses through an electronic trading system supplied by the OMX Nordic stock exchange in Stockholm, Sweden.
About Biotica Technology Limited
Biotica Technology Limited is a privately-held biotechnology company that discovers and develops novel polyketide-based therapeutics to create new medicines for a variety of serious diseases. Its pipeline of therapeutic programs includes a new class of cyclophilin inhibitors, called Sangamides, based on novel polyketide chemistry. Sangamides are amide analogs of the naturally-occurring polyketide Sanglifehrin A, produced using Biotica's proprietary polyketide engineering technology.
Biotica was founded in 1996 and is based in Cambridge, UK. In January 2013 Biotica was placed into administration.
Media and investor relations contacts
NeuroVive Pharmaceutical: Mikael Bronnegard
Phone No: +46-(0)70-299-62-64
Citigate Dewe Rogerson: Nina Enegren / David Dible
Phone No: +44-207-282-1050
SOURCE NeuroVive Pharmaceutical AB