ThromboGenics and BioInvent to Regain Full Rights to TB-403
LUND, Sweden and LEUVEN, Belgium, June 5, 2012 /PRNewswire/ --
Plan to evaluate the potential of this therapeutic antibody against PIGF in cancer and non-cancer indications, including ophthalmology
ThromboGenics NV (Euronext Brussels: THR) and co-development partner BioInvent International (OMXS: BINV) announce today that they will regain global rights to TB-403 from Roche. TB-403 was licensed to Roche in 2008. ThromboGenics and BioInvent plan to further evaluate the potential of TB-403 in certain cancer and non-cancer indications, including ophthalmology. Clinical studies with TB-403 to-date have shown that it is safe and well tolerated. Roche's decision was due to the prioritization of resources in the Roche portfolio.
TB-403 is a monoclonal antibody against placental growth factor (PlGF). PIGF is a naturally occurring protein that belongs to the family of vascular endothelial growth factors (VEGF) that promote the formation of blood vessels. TB-403's ability to block the growth of new blood vessels and modulate inflammation means it could potentially be used in a broad range of cancer and non-cancer indications.
Dr. Patrik De Haes, CEO of ThromboGenics, said: "Regaining all rights to TB-403, an antibody which blocks PIGF, will allow us to evaluate its potential as a treatment for a number of significant retinal diseases including diabetic retinopathy and AMD. We believe that our lead product ocriplasmin will allow us to establish a strong market position in the treatment of retinal disorders where vitreomacular adhesion plays a role. By investing in the development of TB-403 we could have another exciting new product to accelerate the growth of our emerging ophthalmology franchise."
Svein Mathisen, CEO of BioInvent, added: "TB-403's ability to selectively block the formation of new blood vessels provides us with a therapeutic antibody candidate that could have potential in indications where it has so far not been fully assessed. We intend to evaluate such opportunities and will provide an update when data are available."
ThromboGenics is a biopharmaceutical company focused on developing and commercializing innovative ophthalmic medicines. The company's lead product, ocriplasmin, has successfully completed two Phase III clinical trials for the pharmacological treatment of symptomatic Vitreomacular Adhesion (VMA) including macular hole. The MAA for ocriplasmin has been accepted for review in Europe and the BLA has been re-submitted in the U.S. Ocriplasmin is in Phase II clinical development for additional vitreoretinal conditions.
In March 2012, ThromboGenics signed a strategic partnership with Alcon (Novartis) for the commercialization of ocriplasmin outside the United States. Under this agreement, ThromboGenics could receive up to a total of €375 million in up-front and milestone payments, plus an attractive level of royalties on Alcon's net sales of ocriplasmin. ThromboGenics and Alcon intend to share the costs equally of developing ocriplasmin for a number of new vitreoretinal indications.
ThromboGenics is also developing TB-403 a novel antibody therapeutic, in collaboration with BioInvent International, for cancer and non-cancer, including ophthalmology, indications.
ThromboGenics is headquartered in Leuven, Belgium. The Company is listed on the NYSE Euronext Brussels exchange under the symbol THR. More information is available at http://www.thrombogenics.com
About BioInvent International
BioInvent International AB, listed on the NASDAQ OMX Stockholm (BINV), is a research-based pharmaceutical company focusing on developing antibody drugs. The Company currently has four clinical development projects within the areas of thrombosis, cancer and atherosclerosis. The Company has signed various strategic alliances to strengthen the product pipeline and increase the likelihood of success. These partners include Genentech, Human Genome Sciences, Roche and ThromboGenics. The company's competitive position is underpinned by its proprietary antibody development platform. The scope and strength of this platform is also utilised by partners, such as Bayer HealthCare, Daiichi Sankyo, Mitsubishi Tanabe, UCB and XOMA. More information is available at http://www.bioinvent.com.
Important information about forward-looking statements
Certain statements in this press release may be considered "forward-looking". Such forward-looking statements are based on current expectations, and, accordingly, entail and are influenced by various risks and uncertainties. The Company therefore cannot provide any assurance that such forward-looking statements will materialize and does not assume an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Additional information concerning risks and uncertainties affecting the business and other factors that could cause actual results to differ materially from any forward-looking statement is contained in the Company's Annual Report.
This press release does not constitute an offer or invitation for the sale or purchase of securities or assets of ThromboGenics in any jurisdiction. No securities of ThromboGenics may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom, and in accordance with any applicable U.S. state securities laws.
For further information please contact:
Dr. Patrik De Haes, CEO
Tel: + 32-16-75-13-10
Chris Buyse, CFO
Tel: + 32-16-75-13-10
Citigate Dewe Rogerson
David Dible/ Nina Enegren/ Sita Shah
The Trout Group
Todd James, Director
Simon Harnest, Associate