Skip to main content
All Posts By

Site Content Team

Pathwork Diagnostics Completes $30M Series C Round

By Pathwork Diagnostics, Press Release
Press Release.

 

Capital to Accelerate Commercialization and Market Share for FDA-cleared Tissue of Origin Test

 

REDWOOD CITY, Calif., – Pathwork Diagnostics, Inc, a privately held molecular diagnostics company focused on oncology, today announced the closing of its $30 million Series C financing. Led by Alta Partners, the financing included participation from the company’s existing investors: Abingworth, Advent Venture Partners, Novus Ventures, Prospect Venture Partners and Venrock. David Mack, Ph.D., Director at Alta Partners, joined Pathwork Diagnostics’ board of directors in connection with the financing.

The Pathwork® Tissue of Origin Test identifies the source of cancers that are difficult to classify and increases oncologists’ confidence in their treatment approaches. The test works on formalin-fixed, paraffin-embedded (FFPE) tissues, which is the most common clinical specimen type. The accurate and reproducible results are evaluated by the physician in the context of the patient’s clinical history and complementary diagnostics.

Breaking new ground in the field of molecular diagnostics, the Tissue of Origin Test recently received U.S. Food and Drug (FDA) clearance. Pathwork has the only FDA-cleared molecular diagnostic test for tissue of origin. Pathwork also recently signed a diagnostic discovery partnership in oncology with Novartis.

“2010 has been an exciting and productive year at Pathwork Diagnostics,”

said CEO Deborah J. Neff.

“We are pleased to have Alta Partners join our outstanding syndicate of investors, and look forward to working with our team to accelerate our efforts to build adoption and market share for the Tissue of Origin Test. This financing provides the resources to support our commercial activities and expand our product offerings.”

“Pathwork Diagnostics is developing compelling technology that is changing the way oncologists diagnose and treat challenging tumors,”

said new board member David Mack.

“We believe the company’s technology is best in class and are excited about the company’s commercial growth opportunities.”

When the tumor’s tissue of origin cannot be identified, patients may not receive the most appropriate tissue specific standard-of-care treatment.

“Our approach allows physicians to have more certainty in diagnosing and managing their cancer patients,”

said Deborah J. Neff.

“Pathwork looks forward to working directly on new molecular diagnostic tests and in collaboration with pharmaceutical companies to provide physicians with better diagnostics that will help improve patient care.”

 

About Pathwork Diagnostics
Pathwork Diagnostics Inc. is a privately held company based in Redwood City, Calif., that develops and commercializes high-value molecular diagnostics for oncology. The company’s flagship Tissue of Origin Test is the only FDA-cleared molecular test of its kind. For more information call toll-free 1(877) 808-0006 or visit www.pathworkdx.com.

About Alta Partners
Alta Partners is a San Francisco-based venture capital firm focused on life sciences investing. Founded in 1996, the firm currently manages $2 billion in committed capital through eight venture fund programs. Alta invests in life sciences companies across the development continuum, from company formation to later-stage opportunities, and has funded more than 120 companies in the sector to date. www.altapartners.com

Avila Initiates Phase 1 Clinical Study of AVL-292, a Targeted Covalent Drug and Novel Potential Treatment for B Cell Cancers and Autoimmune Diseases

By Avila, Press Release
Press Release.

 

WALTHAM, Mass. – Avila Therapeutics™, Inc., a biotechnology company developing targeted covalent drugs, announced today that it has initiated a phase 1 clinical trial to assess the safety, tolerability and pharmacokinetic profile of AVL-292, a novel, orally available, covalent drug that targets Bruton’s tyrosine kinase (Btk). AVL-292 is the first product candidate to enter clinical evaluation from Avila’s proprietary covalent drug platform, Avilomics™.

“Initiating clinical development of AVL-292 is an important milestone in our development of a new generation of rationally-designed, targeted covalent drugs,”

said Katrine Bosley, Chief Executive Officer of Avila.

“By addressing a target that has been difficult for others to address successfully AVL-292 has the potential to help patients in need of new therapies for B cell cancers and autoimmune diseases like rheumatoid arthritis.”

B cells are implicated in multiple diseases, and Btk plays a critical role in the signaling and proliferation of B cells. Potent, selective inhibition of Btk has the potential to be therapeutically important in the treatment of B cell-related hematological cancers such as non-Hodgkin lymphoma (NHL) and chronic lymphocytic leukemia (CLL), as well as autoimmune diseases such as rheumatoid arthritis. In preclinical studies, AVL-292 selectively and potently inhibited Btk in vitro and was efficacious in a variety of different animal disease models.

The first clinical study of AVL-292, which is being conducted in the U.S., is a double-blind, placebo-controlled, single ascending dose study and will evaluate the safety, tolerability, and pharmacokinetic profile of AVL-292 in healthy volunteers. In addition, this study will use Avila’s unique covalent probe technology to evaluate quantitatively the relationships among dose level, systemic exposure and occupancy of the target by AVL-292. This combination of analyses is designed to provide a powerful and rigorous understanding of AVL-292 action at the molecular and cellular levels and may serve to guide future clinical development.

“The Leukemia & Lymphoma Society is very excited about AVL-292 moving into clinical evaluation. There remains a great need for therapies that work by new mechanisms to treat patients who are fighting blood cancers, and we believe that targeting Bruton’s tyrosine kinase may be an important new approach to benefit the patients we serve,”

said Louis DeGennaro, Ph.D., Chief Mission Officer of The Leukemia & Lymphoma Society, with whom Avila established a collaboration in March 2010.

 

About Avila Therapeutics
Avila focuses on design and development of targeted covalent drugs to achieve best-in-class outcomes that cannot be achieved through traditional chemistries. This approach is called “protein silencing”. The company’s product pipeline has been built using its proprietary Avilomics™ platform and is currently focused on cancer, autoimmune disease, and hepatitis C infection. Avila is funded by leading venture capital firms: Abingworth, Advent Venture Partners, Atlas Venture, Novartis Option Fund, and Polaris Venture Partners.

Algeta concludes agreements for the manufacture and supply of Alpharadin for future commercial sale

By Algeta, Press Release
Press Release.

 

Oslo, Norway – Algeta ASA (OSE: ALGETA), the focused oncology company, today has announced it has concluded two agreements for the manufacture and supply of Alpharadin for future commercial sale. Alpharadin (radium-223) is a novel, targeted alpha-pharmaceutical in clinical trials for treating bone metastases in cancer patients.

The signing of these agreements triggers a EUR 5 million milestone payment from Bayer Schering Pharma (“Bayer”), Algeta’s development and commercial partner for Alpharadin.

The first agreement, with Bayer, provides that Algeta will be the exclusive supplier of Alpharadin for future commercial sale.

The second agreement sees Algeta significantly extend its collaboration with Oslo’s Institute for Energy Technology (IFE), which currently manufactures Alpharadin for Algeta/Bayer’s ongoing ALSYMPCA phase III study and clinical trials in other cancer indications. Under the terms of this second agreement, IFE, in conjunction with Algeta, will commence an expansion of the existing Alpharadin production facility at IFE. The upgrade, which will be paid for by Algeta, will create a state-of-the-art manufacturing facility to supply the expected commercial demand around the world following approval and launch.

Andrew Kay, Algeta’s President and CEO said:

“IFE has proved to be an excellent manufacture and supply partner of Alpharadin for all our clinical trials to date. We look forward to continuing our work together with IFE to secure the future clinical and commercial supply of Alpharadin.”

He added:

“Algeta and IFE have developed world-leading expertise in the production of the alpha-emitters that underpin our alpha-pharmaceutical platform. As a consequence, the new, state-of-the-art facility will also provide an important advantage to Algeta as it looks to advance its Thorium platform. The conclusion of these agreements, therefore, is a very positive development for Algeta.”

 

For further information, please contact:

For Algeta
Andrew Kay, CEO
Oystein Soug, CFO
+47 2300 7990 / +47 4840 1360 (mob)
+47 2300 7990 / +47 9065 6525 (mob)
post@algeta.com

International media enquiries:
Mark Swallow/Helena Galilee/David Dible,
Citigate Dewe Rogerson
+44 207 638 9571,
mark.swallow@citigatedr.co.uk

US investor enquiries:
Jessica Lloyd, The Trout Group
+1 646 378 2928,
jlloyd@troutgroup.com

About Algeta
Algeta is a focused oncology company 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 partnered 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 hormone-refractory (castration-resistant) prostate cancer. Alpharadin is also under investigation in phase II clinical trials as a potential new treatment for bone metastases in endocrine-refractory breast cancer 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.

About IFE (Institute for Energy Technology) ife.no
IFE is an international research institute for energy and nuclear technology. IFE’s mandate is to undertake research and development, on an ideal basis and for the benefit of society, within the energy and petroleum sector, and to carry out assignments in the field of nuclear technology for the nation.

The Isotope Laboratories at IFE are a national centre of expertise for radiopharmaceuticals. The Institute was founded in 1948, and is today an independent foundation. The annual turnover is approximately NOK 650 M, and IFE has approximately 600 employees.

Forward-looking Statement
This news release contains forward-looking statements and forecasts based on uncertainty, since they relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on results of operations and the financial condition of Algeta. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, among other things, risks associated with technological development, the risk that research & development will not yield new products that achieve commercial success, the impact of competition, the ability to close viable and profitable business deals, the risk of non-approval of patents not yet granted and difficulties of obtaining relevant governmental approvals for new products.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Pathwork Diagnostics Partners with Leading Pharmaceutical Company to Discover Molecular Diagnostics for Cancer

By Pathwork Diagnostics, Press Release
Press Release.

 

REDWOOD CITY, California – Pathwork Diagnostics Inc., a molecular diagnostics company focused on oncology, today announced that it has entered into a research collaboration with Novartis.

The parties intend to discover clinically meaningful biomarker signatures that can serve as the basis for diagnostics across a range of cancer types. Under the terms of the agreement, both parties have rights to develop and commercialize the diagnostic products.
Financial terms were not disclosed.

“There is no question that the future of cancer treatment will require and depend on molecular diagnostics,”

said Richard Klausner, M.D., former director of the National Cancer Institute and member of Pathwork Diagnostics Board of Directors.

“The collaboration between Pathwork and Novartis has the potential to yield diagnostic products that improve the quality of cancer care worldwide.”

 

About Pathwork Diagnostics
Pathwork Diagnostics Inc. develops and commercializes high-value molecular diagnostics for oncology and is a privately held company based in Redwood City, Calif. The company’s Tissue of Origin Test is the only FDA-cleared molecular test that assists in the determination of the tissue of origin. The test uses microarray-based RNA profiling to compare the patient’s specimen to a database of known tumor types. The accurate and reproducible results are evaluated by the physician in the context of the patients’ clinical history and complementary diagnostics, such as immunohistochemistry.

MediGene sells full European rights for Eligard to Astellas for EUR 25 million and ongoing royalties

By Press Release
Press Release.

 

MediGene sells full European rights for Eligard to Astellas for EUR 25 million and ongoing royalties

Astellas to make one-off payments totaling EUR 25 million
•  MediGene to remain entitled to royalties
•  No further costs to MediGene
•  Sale price reflects the full NPV of all future Eligard® revenues while allowing MediGene to benefit from continued Eligard® growth
•  Analyst and press conference call and webcast tomorrow, July 20, at 11 a.m. (CEST)

Martinsried/Munich – MediGene AG (Frankfurt, Prime Standard, MDG, TecDAX) announces the sale of full European marketing and distribution rights to Eligard® (leuprolide acetate, for the treatment of hormone-dependent prostate cancer) to Astellas Pharma Europe Ltd. (London, “Astellas”), previously MediGene’s European marketing partner for Eligard®. MediGene acquired these rights from TOLMAR Therapeutics Inc. (formerly Atrix Laboratories Inc.) in 2001. In return for the Eligard® license, MediGene will receive EUR 25 million in cash from Astellas as well as royalties on future product sales. For MediGene, all future costs, obligations and risks associated with the supply of Eligard® to Astellas, as well all future procurement costs and license payments to TOLMAR, will cease within the next months.

This agreement will strengthen MediGene’s financial situation and provide the opportunity for MediGene to profit from future growth of Eligard® sales. This would not be possible under the former deal structure since MediGene’s net margin decreased once net sales by Astellas exceeded a certain threshold, capping royalty receipts.

MediGene will now receive a low single-digit royalty on net sales of Eligard® generated by Astellas in Europe. In 2009, MediGene’s net participation in Eligard® sales by Astellas totalled about 6%. In future, MediGene will receive about one third of this margin on Eligard® in-market sales. According to the contract, Astellas will pay EUR 25 million in three tranches as the steps of transfer of the rights are concluded over the next six to twelve months (EUR 5 million upon signature, EUR 15 million anticipated within six to eight months, EUR 5 million anticipated within six to twelve months).

Arnd Christ, MediGene’s CFO, commented: “This is an excellent deal for MediGene, both in financial and strategic terms. It not only reflects the full NPV of all future Eligard® revenues according to the previous deal structure, but also provides us with significant and non-dilutive financing in a very tough capital markets environment. Furthermore, the structure of the deal allows MediGene to continue to benefit from the increasing revenue from Eligard® which was not possible under the previous structure. The significant improvement of our balance sheet and the simplification of the Eligard® deal structure allow us to fund growth opportunities and thus strengthening the future pipeline of the company.”

“We are delighted to have reached this agreement with MediGene which confirms our strong commitment to meeting the needs of patients in the fields of urology and oncology,” added Masao
Yoshida, President and CEO of Astellas Pharma Europe Ltd. “We have a strong track record in urology and look forward to continuing applying our proven expertise to all aspects of the marketing and distribution of this important treatment throughout Europe.”

Analyst and press conference call and webcast: An analyst and press conference call in English will take place tomorrow, July 20, at 11 a.m. (CEST), and will be webcast live. The webcast and synchronized presentation slides can be accessed at www.medigene.com. A recording of the live presentation will also be available thereafter.

About Astellas: Astellas Pharma Europe Ltd. is a subsidiary of Astellas Pharma Inc. which is located in Tokyo, Japan. Astellas is a pharmaceutical company dedicated to improving the health of people around the world through the provision of innovative and reliable pharmaceuticals. Astellas has approximately 15,000 employees worldwide. The organization is committed to becoming a global category leader in urology, immunology & infectious diseases, neuroscience, DM complications & metabolic diseases and oncology. For more information on Astellas Pharma Europe Ltd., please visit the website at http://www.astellas.eu.

This press release contains forward-looking statements representing the opinion of MediGene as of the date of this release. The actual results achieved by MediGene may differ significantly from the forward-looking statements made herein. MediGene is not bound to update any of these forward-looking statements. MediGene® is a registered trademark of MediGene AG. Eligard® is a registered trademark of Tolmar Therapeutics, Inc. These trademarks may be owned or licensed in select locations only.

– ends –

MediGene AG is a publicly listed (Frankfurt, Prime Standard: MDG, TecDAX) biotechnology company located in Martinsried/Munich, Germany, with subsidiaries in Oxford, UK and San Diego, USA. MediGene is the first German biotech company to have drugs on the market which are distributed by partner companies. It has several drug candidates in clinical development and possesses innovative platform technologies. MediGene focuses on clinical research and development of novel drugs with focus on oncology.

Contact MediGene AG
Email: investor@medigene.com
Fax: ++49 – 89 – 85 65 – 2920
Julia Hofmann / Dr. Nadja Wolf, Public Relations, Tel.: ++49 – 89 – 85 65 – 3324
Dr. Georg Dönges, Investor Relations, Tel.: ++49 – 89 – 85 65 – 2946

Micromet’s Blinatumomab Induces Durable Remissions in Patients with Relapsed Non-Hodgkin’s Lymphoma

By Micromet, Press Release
Press Release.

 

Durable responses ranging up to 30 months observed

 

BETHESDA, Md., – Micromet, Inc. (Nasdaq: MITI) today announced the presentation of updated results from a Phase 1 trial of the Company’s lead product candidate blinatumomab (MT103) in patients with relapsed non-Hodgkin’s lymphoma (NHL). A high objective response rate was maintained among patients treated with blinatumomab using an adapted schedule, comparable to that previously reported in patients receiving constant dosing. Blinatumomab is the first in a new class of agents called BiTE(R) antibodies, designed to harness the body’s T cells to kill cancer cells.

The findings were presented on June 12, 2010 in an oral presentation (abstract # 0559) at the 15th Annual Congress of the European Hematology Association (EHA) in Barcelona, Spain.

“Blinatumomab continues to demonstrate a long duration of response in heavily pre-treated non-Hodgkin’s lymphoma patients,”

said Professor Ralph Bargou, Division of Hematology and Oncology, Department of Internal Medicine II, Wuerzburg University Hospital, and the study’s principal investigator.

“Results of the expanded Phase 1 experience suggest that blinatumomab has the potential to alter the clinical course of disease in patients with a variety of NHL sub-types.”

Phase 1 Study Design
This multi-center Phase 1 study evaluates the safety and tolerability of blinatumomab in adult patients with relapsed non-Hodgkin’s lymphoma (NHL). The key objectives of the study are to assess safety and tolerability, pharmacokinetics, pharmacodynamics, and anti-lymphoma activity. Patient response is assessed using the Cheson criteria by independent radiologic review.

Patients initially received blinatumomab at dose levels ranging from 0.5 to 90 micrograms per meter squared per day over a four or eight week cycle. Based on findings in the ongoing study, a new dosing schedule was designed to mitigate the occurrence of neurological adverse events observed at the onset of treatment. Recently enrolled patients received a “step-dose approach” including a lower starting dose (5 or 15 micrograms per meter squared per day) of blinatumomab for one week, with subsequent escalation up to the target dose of 60 micrograms per meter squared per day.

Updated Phase 1 Results
The analysis presented at EHA included 52 patients, mainly with diagnoses of follicular lymphoma (FL) (42%) and mantle cell lymphoma (MCL) (42%). The majority of enrolled patients received three or more prior lines of chemotherapy. Of eight evaluable FL and MCL patients treated with constant dosing at a dose level of 60 micrograms per meter squared per day, 100% (8 of 8) achieved an objective response. The median response duration is 21 months. Three patients currently have ongoing responses ranging from 24 up to 30 months.

Among patients treated using constant dosing, the most common clinical adverse events were pyrexia, headache and fatigue. The most common adverse events were early, transient, fully reversible and did not require discontinuation of treatment. The clinically most relevant cause of treatment discontinuation was neurologic events. These were observed in a sub-group of patients with an identified prognostic factor. All events resolved without sequelae following treatment discontinuation.

Data presented on six patients with an identified risk factor for neurologic events who were treated with blinatumomab using a “step-dose approach” indicates that the new treatment schedule appears to mitigate neurological events and maintain clinical activity. There was no occurrence of grade 3 or higher neurological events and five objective responses were achieved among the six patients treated.

“Our goal is to safely and effectively treat indolent and mantle cell lymphomas using a uniform treatment schedule irrespective of patient characteristics,”

said Jan Fagerberg, M.D., Ph.D., Micromet’s SVP, Chief Medical Officer.

“We look forward to continuing to advance enrollment in the on-going study using the adapted treatment schedule and broadening the eligible patient population to include other non-Hodgkin’s lymphoma subtypes.”

Conference Call and Webcast
Micromet management will host a conference call on Tuesday, June 15 at 8:30 AM EDT to review the data presented at EHA. To participate in the conference call, please dial 866-770-7120 (domestic) or 617-213-8065 (international) and reference the access code 28465583.

A replay of the call will be available from 11:30 AM ET on June 15, 2010 until midnight on June 22, 2010. To access the replay, please dial 888-286-8010 (domestic) or 617-801-6888 (international) and reference the access code 87529369. The archived webcast will be available for 30 days in the Investor Relations section of the Micromet website at www.micromet-inc.com.

About Blinatumomab
Blinatumomab (MT103) is a novel, next-generation monoclonal antibody designed to direct the body’s cell destroying T-cells against CD19, a protein expressed on the surface of B-cell derived acute lymphoblastic leukemias and non Hodgkin’s lymphomas. Micromet received orphan drug designation from the European Medicines Agency for blinatumomab for the treatment of acute lymphoblastic leukemia, mantle cell lymphoma and chronic lymphatic leukemia and from the Food and Drug Association for the treatment of acute lymphoblastic leukemia, chronic lymphocytic leukemia, indolent B cell lymphoma, hairy cell leukemia and prolymphocytic leukemia.

About Micromet, Inc.
Micromet, Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of innovative antibody-based therapies for the treatment of cancer. Its product development pipeline includes novel antibodies generated with its proprietary BiTE(R) technology, as well as conventional monoclonal antibodies. Two of Micromet’s BiTE antibodies and three of its conventional antibodies are currently in clinical trials. Micromet has collaborations with a number of leading pharmaceutical and biotechnology companies, including sanofi-aventis, Bayer Schering Pharma, Merck Serono, Boehringer Ingelheim, MedImmune and Nycomed. Additional information can be found at www.micromet-inc.com

Safe Harbor
This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Any statements contained herein which do not describe historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from historical results or from any future results expressed or implied by such forward-looking statements. These forward-looking statements include statements regarding the development of blinatumomab and its use in the treatment of cancer. You are urged to consider statements that include the words “ongoing,” “may,” “will,” “believes,” “potential,” “expects,” “plans,” “anticipates,” “intends,” or the negative of those words or other similar words to be uncertain and forward-looking. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include the risk that our preclinical data is not confirmed in clinical trials with our product candidates. This factor and others are more fully discussed in our Securities and Exchange Commission filings, including our Quarterly Report on Form 10-Q for the quarter ended March 31, 2010. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. We disclaim any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

SOURCE Micromet, Inc.

Amsterdam Molecular Therapeutics reports Positive New Clinical Data from Glybera Study

By Press Release
Press Release.

 

Amsterdam, The Netherlands, June 4, 2010 – Amsterdam Molecular Therapeutics (Euronext: AMT) a world leader in gene therapy, today reports new data showing that it’s lead product Glybera results in break-down of chylomicrons in lipoprotein lipase deficient (LPLD) patients.  The data will be presented on June 5 at the Second International Symposium on Chylomicrons in Disease, Sint Franciscus Gasthuis, Rotterdam, The Netherlands.

Glybera is a gene therapy product that induces functional lipoprotein activity. New data from an ongoing Canadian clinical study indicate that a single administration of Glybera in LPLD patients results in a remarkable improvement in the ability to break down the chylomicrons that transport dietary fat (triglycerides).  Lipoprotein-lipase-deficient (LPLD) patients are incapable of clearing chylomicrons which are responsible for causing significant morbidity and mortality.

“The long-term improvement in chylomicron handling following Glybera administration is very impressive”

said Dr. André Carpentier, co-investigator from the University of Sherbrooke, Quebec, Canada, who designed and analyzed the chylomicron sub-study.

“These data are important, because the major complications observed in LPLD patients, including pancreatitis, are a consequence of chylomicron overload. They also constitute evidence for a long term clinically relevant lipoprotein lipase activity induced by Glybera”

noted the principal investigator, Prof. Daniel Gaudet, from the University of Montreal, and ECOGENE-21 clinical study center, Chicoutimi, Quebec, Canada.

These new data provide a basis for explaining the mechanism of action of Glybera in LPLD patients, and in general for continued pharmacologic activity after one time gene therapy.

About  LPLD
LPLD is a seriously debilitating, and potentially lethal, orphan disease, for which no approved therapy exists today. The disease is caused by mutations in the LPL gene, resulting in highly decreased or absent LPL activity in patients. LPL activity is needed in order to break down Chylomicrons, large fat-carrying particles that are formed in the gut and enter the circulation after each meal.  When such particles are not adequately broken down they accumulate in the blood, they may obstruct small blood vessels, which in turn can lead to pancreatitis.  Recurrent pancreatitis in LPLD patients can result in difficult-to-treat diabetes.

For further information
Jörn Aldag
Chief Executive Officer
Tel +31 (0) 20 566 7394
j.aldag@amtbiopharma.com

Advent Sells Respivert to J&J for Significant Cash Return

By Press Release, Respivert
Press Release.

 

Advent Venture Partners was instrumental in the development of RespiVert, a true example of a classic venture investment and a case study of Advent‘s ability to find strong innovation at the early stage and develop it to a strong and early exit.

 

Advent backed an exceptional Founding team at Respivert,  helped refine the business plan, assembled an international venture capital syndicate, and placed Rudi Pauwels (former Advent Venture Partner and current CEO of portfolio company Biocartis) as chairman of the board. Advent has remained the largest shareholder of the company throughout.

The sale of RespiVert represents a further validation of Advent’s strategic approach to portfolio building, which is designed to produce earlier cash returns to our LPs than typically associated with venture funds. RespiVert is the third profitable exit from the Life Science element of the APEF IV portfolio following successful exits for Thiakis and Algeta. Each of these three companies received a single round of finance and in each case an exit has been achieved within four years of the initial investment.

 

Press Release

Centocor Ortho Biotech Inc. Acquires Respivert Ltd, Strengthens Pulmonary Focus

 

Acquisition Bolsters Pulmonary Portfolio and Capabilities, Accessing Promising Pipeline of First-in-Class Compounds and Renowned Team of Respiratory Scientists

Horsham, Pa., June 1, 2010 – Centocor Ortho Biotech Inc. today announced that it has acquired RespiVert Ltd., a privately held drug discovery company focused on developing small-molecule, inhaled therapies for the treatment of pulmonary diseases.  The company’s lead compounds, RV-568 and RV-1088, narrow spectrum kinase inhibitors with a unique profile of anti-inflammatory activities, are progressing into clinical development as potential first-in-class treatments for moderate to severe asthma, Chronic Obstructive Pulmonary Disease (COPD) and Cystic Fibrosis (CF).  The clinical development of RV-568 and RV-1088 will be led by RespiVert in collaboration with scientists at Centocor Research and Development, Inc.  The company is not disclosing financial terms.

“The RespiVert compounds offer the potential for a new class of medicines for patients with severe lung disease that are insensitive to inhaled corticosteroids,”

said Susan Dillon, Ph.D., Global Therapeutic Area Head, Immunology, Centocor Research and Development, Inc.

“The addition of RespiVert’s expert scientific team and discovery platforms for inhaled medicines strengthens our capabilities and further builds our pipeline of novel oral and biologic therapies for serious pulmonary diseases.”

With the acquisition of RespiVert, Centocor Ortho Biotech gains a portfolio of first-in-class, early-stage inhaled treatments for serious lung diseases.  RespiVert will continue to maintain its research and discovery presence in London from the Imperial BioIncubator, which is based at the campus of Imperial College London.  RespiVert employees will continue to lead ongoing research and drug discovery efforts.

Dr. Garth Rapeport, Chief Executive Officer of RespiVert, who is remaining with RespiVert following the acquisition, said,

“We believe that our focused discovery efforts in pulmonary disease offer a unique opportunity to bring completely new treatment options to patients who suffer from severe, chronic respiratory diseases including Chronic Obstructive Pulmonary Disease, severe asthma and Cystic Fibrosis.”

 

About Asthma, COPD, and CF
Severe or uncontrolled asthma is associated with significant morbidity, resulting in missed work and school days, and substantial limitation of activity, adversely impacting quality of life in asthmatics.  Severe asthma represents a particular societal burden, with sources suggesting that half of the total cost of asthma in the United States is attributable to severe disease.  Asthma is the cause of over 4,000 deaths each year in the U.S. and over 12,000 in Europe.

COPD is an umbrella term for a group of lung diseases which include chronic bronchitis, emphysema and small airways disease.  COPD is a serious, chronic disorder characterized by a slowly progressive decline in lung function with symptoms such as chronic cough and dyspnoea significantly impacting quality of life.  COPD is estimated to cause 130,000 deaths per year in the U.S.

CF is an inherited life-threatening disease involving a genetic mutation that disrupts the cystic fibrosis transmembrane regulator (CFTR) protein, resulting in poorly hydrated, thickened mucous secretions in the lungs and digestive tract.  Due to these changes, the lungs of individuals with cystic fibrosis are colonized and infected by bacteria from an early age.  This leads to progressive and severe lung inflammation which is difficult to treat.

About Centocor Ortho Biotech Inc.
Centocor Ortho Biotech Inc. redefines the standard of care in immunology, nephrology and oncology.  The company was formed when Centocor, Inc. and Ortho Biotech Inc. were consolidated in late 2008, and was renamed Centocor Ortho Biotech Inc.  Built upon a pioneering history, Centocor Ortho Biotech Inc. harnesses innovations in large-molecule and small-molecule research to create important new therapeutic options.  Beyond its innovative medicines, Centocor Ortho Biotech is at the forefront of developing education and public policy initiatives to ensure patients and their families, caregivers, advocates and healthcare professionals have access to the latest treatment information, support services and quality care.  For more information about Centocor Ortho Biotech, visit www.CentocorOrthoBiotech.com.  Centocor Ortho Biotech Inc. and Centocor Research and Development Inc. are wholly-owned subsidiaries of Johnson & Johnson.

About RespiVert
RespiVert is a small molecule drug discovery company working towards the identification of new treatments for patients with Chronic Obstructive Pulmonary Disease (COPD), Cystic Fibrosis (CF) and severe asthma.  The more severe forms of these diseases are poorly responsive to existing therapies such as inhaled corticosteroids and new disease modifying treatments are urgently required.

RespiVert has been financed by Advent Venture Partners, Fidelity Biosciences, Imperial Innovations and SV Life Sciences.

Forward-looking statements
(This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995.  These statements are based on current expectations of future events.  If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Centocor Ortho Biotech Inc.’s and/or Johnson & Johnson’s expectations and projections.  Risks and uncertainties include general industry conditions and competition; economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; and trends toward health care cost containment.  A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of Johnson & Johnson’s Annual Report on Form 10-K for the fiscal year ended January 3, 2010.  Copies of this Form 10-K, as well as subsequent filings, are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson.  Neither Centocor Ortho Biotech Inc. nor Johnson & Johnson undertake to update any forward-looking statements as a result of new information or future events or developments.)

Cellnovo and Home Diagnostics, Inc. form Strategic Alliance

By Cellnovo, Press Release
Press Release.

 

Technology integration and expansion of distribution platform drive partnership

LONDON, UK AND FORT LAUDERDALE, FLORIDA, USA – Building on a shared vision to simplify diabetes management worldwide, Cellnovo, a London-based medical device company, and Home Diagnostics, Inc., a leader in diabetes products, today announced a strategic alliance that involves integrating technologies and developing distribution opportunities for Cellnovo’s insulin patch pumps.

The partnership allows both companies to accelerate their growth and has the potential to transform the pump industry.  The first phase of the agreement calls for the inclusion of Home Diagnostics TRUE™ blood glucose technology in the Cellnovo wireless mobile handset.  The companies will also begin exploring ways to leverage Home Diagnostics’ distribution network to expand Cellnovo’s presence in the United States and other countries.

“We are extremely excited about our partnership with Home Diagnostics,”

said Bill McKeon, Chief Executive Officer of Cellnovo.

“On a technical level, it will provide our customers with the most advanced blood glucose monitoring technology available today within our mobile handset.  From a business perspective, it provides an extensive distribution network that includes 45,000 points of distribution, leading insurance companies and major product order suppliers.”

The Home Diagnostics blood glucose unit will operate as a built-in meter within the Cellnovo handset, enabling patients to monitor their blood sugar using touchscreen controls and TRUEresult™ and TRUEtest™ Test Strips.  Like all information in the handset, the glucose readings will be automatically stored and sent wirelessly to physicians, clinicians and family members.

“Our agreement with Cellnovo allows us to leverage the emerging opportunities in the insulin pump market through the most innovative pump system in the industry,”

said Joseph H. Capper, Home Diagnostics’ President.

“We look forward to helping Cellnovo bring the convenience, ease-of-use and wireless capabilities of their visionary product to diabetes patients throughout the U.S. and beyond.”

The Cellnovo pump, which is available in three models, is the industry’s smallest patch pump and the first to offer wireless, touchscreen operation.  With the integration of the Home Diagnostics blood glucose meter, patients can monitor their glucose levels using the same handset that records their insulin use, daily meals and activity levels, making diabetes management easier and more accurate.

“The combination of Home Diagnostics’ leadership technology and its significant distribution channels positions us to not only drive new advancements in health care, but to also bring greater freedom and convenience to diabetes patients worldwide”,

said McKeon.

– Ends –

About Cellnovo
Cellnovo Limited is an innovative medical device company based in London, UK.  Cellnovo has developed and produced the world’s first wireless touchscreen insulin patch pump system for diabetes management.  With its novel technology platform, Cellnovo is committed to providing freedom and ease-of-use to people living with diabetes and to providing the healthcare professional a means to better manage a patient’s disease.  Cellnovo’s technology platform benefits all constituencies – the patient, the provider and the payer – by enabling efficient insulin delivery and management, while also providing industry first mobile-enabled connectivity and real-time event tracking. Cellnovo lead investors are Advent Venture Partners and Heathcare Ventures.

About Home Diagnostics
Based in Fort Lauderdale, Florida, Home Diagnostics, Inc. is a leading developer, manufacturer and marketer of diabetes management products.  Home Diagnostics offers a portfolio of high-quality blood glucose monitoring products and systems available throughout the world.  Home Diagnostics is the exclusive co-brand supplier of blood glucose monitoring systems for leading pharmacies including CVS, Rite Aid and Walgreens, as well as distributors such as AmerisourceBergen, Cardinal Health, McKesson, Invacare and Liberty Medical.  For more information, please visit www.homediagnostics.com.

SEP, the Pan-European Specialty Urology Company, acquires Mitem

By Press Release, SEP
Press Release.

 

Speciality European Pharma Limited (SEP), the pan European urology focused specialty pharmaceutical company, is pleased to announce its acquisition of the product Mitem® from Curasan AG.  Mitem is currently sold in Germany.  SEP takes over German distribution rights and plans to introduce the product into other European markets once Marketing Authorisations are granted.

Mitem is an injectable mitomycin product used either on its own or in combination with other therapies in the treatment of a range of cancers.  Most notably Mitem is given intravesically (into the bladder) for the treatment of bladder cancer.

Commenting on the acquisition, Geoff McMillan, Chief Executive Officer of SEP, said:

“This acquisition further enhances SEP’s product offerings to the urologist and is another milestone in the Company’s development as a pan European urology company.  It is the Company’s fourth specialist urology product, the others being Plenaxis® for the treatment of prostate cancer and Regurin® and Regurin® XL each for the treatment of overactive bladder.”

– Ends –

About Mitem
Mitem is a powdered form of mitomycin, a cytotoxic medicine used in the treatment of a variety of cancers, including bladder cancer. Mitomycin products have been on the market for many years and in Germany, the largest European market for mitomycin products, they represent the standard treatment for patients with low risk bladder cancer.  Intravesical therapy with Mitem is frequently used as adjuvant treatment in patients with superficial bladder cancer.  Compared with surgery alone, surgery plus intravesical mitomycin has been shown to cause tumour regression and to reduce the rate of short-term tumour recurrence.

About Speciality European Pharma
Founded in April 2006, SEP is a privately owned speciality pharmaceutical company.  Its mission is to become the leading Urologist focused Specialty pharmaceutical business in Europe.

SEP owns worldwide rights to Plenaxis®, the world’s first approved GnRH blocker for the treatment of prostate cancer.  Plenaxis gives a rapid and sustained decline in testosterone levels, which gives quick and sustained control of prostate cancer and its symptoms.  Plenaxis was launched in Germany in February 2008.

SEP has distribution rights in the UK and the Republic of Ireland for two products, Regurin® and Regurin® XL, respectively twice daily and once daily treatments for overactive bladder.

SEP has distribution rights in France and Italy for Haemopressin®, a product for the treatment of bleeding oesophageal varices.  This product is delivered to clinicians in a hospital setting.

SEP has established its own commercial operations in the UK, Germany, France and Italy and will market its products in other regions and territories through relationships with expert partners.