OSLO, NORWAY--(Marketwired - Jun 11, 2013) - Algeta ASA (
Under the terms of the agreement, Avipep will provide access to aproprietaryAvibody, a next-generation antibody fragment, and Algeta will provideaccess tochelation and conjugation technologies, as well as to its alphaparticle-emitting payload thorium-227. Both companies will contributefinancially to thecollaboration, which is expected to last for up to one year initially withtheoption for further cooperation thereafter. No further terms have beendisclosed.
Thomas Ramdahl, Executive Vice President and Chief Technology Officer atAlgeta,said: "This TTC evaluation agreement is a further step towards ourgoal ofbuilding an attractive pipeline of thorium-based alpha pharmaceuticals.Avivep'sAvibody has shown excellent tumor localizing properties in model systemsand wehope that when armed with our highly potent thorium-227 payload thisnovel TTCwill offer maximum therapeutic benefit."
About the Algeta TTC Platform
Algeta is evaluating the potential utility of alpha-particle emittingelementsin the treatment of cancer. Previous studies[i] have indicated that suchelements may have value in treating cancers by causing double-strand DNAbreaksthat trigger cell death, and have also shown that the effects ofalpha-emission are highly localized as a result of the very short range ofthe alpha particle(2-10 cell diameters), potentially minimizing off-target effects.Thorium-227 is one alpha-particle emitting element (radionuclide) that hasbeen selected byAlgeta for further investigation. By linking thorium-227 tocancer-targeting molecules such as monoclonal antibodies, Algeta believesit may be possible todevelop a pipeline of targeted alpha-pharmaceuticals, termed TargetedThoriumConjugates, or TTCs. Algeta intends to evaluate TTCs in a broad range ofcancertypes to determine whether the TTC platform could offer advantages overnaked(un-armed) antibodies or antibody-drug conjugate technologies that usecytotoxicdrugs (rather than alpha-emitting elements) as payloads. Such advantagesmayinclude increased potency, a more localized tumoricidal effect and thepotentialto address drug resistance by virtue of the physical action of the alphaparticles.
For more information about Algeta's technology, please visitwww.algeta.com.
Algeta is a company focused on developing novel targeted therapies forpatientswith cancer based on its alpha-pharmaceutical platform. TheCompany isheadquartered in Oslo, Norway, and has a US subsidiary, Algeta US, LLC,based inCambridge, MA performing commercial marketing operations in the US.Algeta islisted on the Oslo Stock Exchange (ALGETA.OL). For more informationpleasevisit www.algeta.com.
About Avipep Pty Ltd
Avipep is a privately owned biotechnology company developing ADCsfor thetreatment of cancer. Avipep's proprietary Avibody™ products areengineeredantibody related proteins that can deliver either cancer-killingdrugs orcancer-imaging agents directly and specifically to tumours.Antibodies arenatural proteins in the body's immune system that can target cancercells bybinding to specific molecules on the cancer-cell surface. Avibody™productsleverage the targeting capacity of natural antibodies but are tuned forimprovedtumour targeting and in-vivo performance. To date the Company has generatedpre-clinical animal results that suggest the exciting potential for theapproach.For further information about Avipep, visit its website atwww.avipep.com.au.
This news release contains certain forward-looking statements that arebased onuncertainty, as they relate to events and depend on circumstances thatwilloccur in the future and which, by their nature, may have an impact onresults ofoperations and the financial condition of Algeta. Suchforward-looking statements reflect our current views and are based on theinformation currentlyavailable to Algeta. Algeta cannot give any assurance as to whether suchforwardlooking statements will prove to be correct. These forward lookingstatementsinclude statements regarding future development activities generally andour TTCprogram in particular. There are a number of factors that could causeactualresults and developments to differ materially from those expressed orimplied bythese forward-looking statements. These factors include, among otherthings,risks or uncertainties associated with the success of future clinicaltrials,collaborations with other companies in the development of targetingmolecules,general economic and business conditions and difficulties of obtainingrelevantgovernmental approvals for new products, and the other risks anduncertaintiesdescribed in our annual report.
[i] Hall (1994) Radiobiology for the Radiologist (Lippincott, Philadelphia)
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Source: Algeta ASA via Thomson Reuters ONE
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