LUND, Sweden, July 31, 2019 /PRNewswire/ --
Alligator Bioscience (Nasdaq Stockholm: ATORX), today
announces that it has regained exclusive, worldwide rights from
Janssen Biotech Inc. to develop and commercialize the CD40
agonistic antibody, ADC-1013 (JNJ-64457107), its lead
tumor-directed immunotherapy candidate, in Phase I development for
the treatment of metastatic cancer.
The 2015 partnership agreement between Alligator and Janssen has
been terminated as a result of a strategic portfolio decision by
Janssen to prioritize other assets.
Per Norlén, CEO of Alligator Bioscience, said: "Our
ambition with ADC-1013 was to create a CD40 antibody that
stimulates the immune system without causing adverse systemic side
effects. The current data package suggests we have been successful.
Observed side effects are generally mild, and the early signs of
clinical benefit strengthen our confidence that, in ADC-1013, we
have a CD40 immunotherapy with a highly competitive profile.
Considering recent development in the CD40 field we are certainly
optimistic about the future of this compound".
"We are very pleased with the progress our partnership with
Janssen has made in the development of ADC-1013 but understand
their need to prioritize research programs. Our priority now is to
rapidly advance its development for the benefit of patients in need
of new treatment options. We intend to initiate Phase II
combinations studies and will make all necessary preparations for a
swift start. In parallel we will advance partnering discussions to
secure a future collaboration for the continued development of
ADC-1013", Per Norlén added.
ADC-1013 is Alligator's most advanced immunotherapy candidate
intended for the treatment of different types of cancer. Its
activation of CD40, a receptor in the dendritic cells of the immune
system, enables those cells to stimulate certain weapons belonging
to the immune system - in this case, T cells - allowing the immune
system to selectively attack the cancer. One clinical Phase I trial
has been completed, and a second clinical Phase I trial has
completed recruitment.
Data previously communicated from ADC-1013's Phase I development
program support its continued clinical development. It has been
demonstrated that ADC-1013 is safe and tolerated at clinically
relevant dose levels, with early signs of clinical activity
identified, including a partial response in a patient with renal
cell cancer and prolonged stable disease ≥6 months in 10
patients.
The original partnership agreement with Janssen encompassed
milestone payments up to a potential value of USD 695 million, with Alligator also eligible to
receive tiered royalties on worldwide net sales upon successful
launch and commercialization of ADC-1013. In addition to the
funding of the program by Janssen over the past years, Alligator
has received a USD 35 million upfront
payment in 2015, and milestone payments of USD 11 million during the partnership.
All interested parties are invited to participate in a
telephone conference, today July 31
at 09:00 a.m. CEST. The event will be
hosted by CEO Per Norlén and the
presentation will be held in English. All necessary information to
listen in and ask questions are available on the following link:
https://financialhearings.com/event/12204.
For further information, please contact:
Per
Norlén
CEO
Phone: +46-46-540-82-00
E-mail: per.norlen@alligatorbioscience.com
Per-Olof Schrewelius
CFO
Phone: +46-46-540-82-03
E-mail: per-olof.schrewelius@alligatorbioscience.com
Cecilia Hofvander
Director IR & Communications
Phone +46-46-540-82-06
E-mail: cecilia.hofvander@alligatorbioscience.com
This information is such information as Alligator Bioscience
AB (publ) is obliged to make public pursuant to the EU Market Abuse
Regulation. This information was submitted for publication, through
the agency of the contact persons set out above, at 07:30 a.m. CEST on July
31, 2019.
About Alligator Bioscience
Alligator Bioscience AB is a clinical-stage biotechnology
company developing tumor-directed immuno-oncology antibody drugs.
Alligator's growing pipeline includes five lead clinical and
preclinical drug candidates: ADC-1013, ATOR-1015, ATOR-1017,
ALG.APV-527 and ATOR-1144. Alligator's shares are listed on Nasdaq
Stockholm (ATORX). The Company is headquartered in Lund, Sweden, and has approximately 55
employees. For more information, please
visit www.alligatorbioscience.com.
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The following files are available for download:
https://mb.cision.com/Main/12681/2871689/1083812.pdf
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Alligator Bioscience
regains global rights from Janssen to CD40 agonistic antibody,
ADC-1013 (JNJ-64457107)
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