EXCERPT
TOKYO and TORONTO, July 31, 2018 (GLOBE NEWSWIRE) — Vasomune Therapeutics (“Vasomune”), a Toronto-based spin-out from Sunnybrook Research Institute and MaRS Innovation, and AnGes, Inc. (Tokyo, TYO:4563), a Japan-based biotechnology company focused on developing biotherapeutics, announce the signing of an innovative global Co-Development Agreement for the development and commercialization of therapeutics treating diseases associated with blood vessel dysfunction and destabilization.
The collaboration is designed to advance Vasomune’s peptide-based Tie2 receptor agonist program, initially for the treatment of critical care indications, including Acute Respiratory Distress Syndrome (“ARDS”), into clinical development. ARDS is a critical care indication with a significant unmet medical need as there are currently no approved therapeutics. The parties expect to initiate clinical trials in 2020. With such a foundational mechanism involved in multiple disease states, the parties have the option to co-develop the compounds for additional indications associated with vascular dysfunction and leakage. These indications include asthma, atopic dermatitis, glaucoma and vascular complications of diabetes.
Under the terms of the agreement, AnGes will provide Vasomune with multi-million dollar co-development contributions including upfront and clinical milestone fees. The initial objective of the partnership is to achieve human proof of concept in ARDS, which alone is potentially a US$2.5 billion market opportunity worldwide. The partnership provides the option for continued co-development through to commercialization including expansion to other indications. The parties will share equally in all expenses and all proceeds including milestone and royalty payments from any third-party licensing transaction. Development and commercialization of the program will be managed through Joint Committees organized by the two companies. Shadow Lake Group Inc. advised Vasomune on the transaction.
Read full news release here.
