Phylogica and Opsona enter into drug discovery collaboration
Dublin, Ireland - 15 March, 2006
Opsona Therapeutics (Dublin, Ireland) and Phylogica (Perth, Australia; ASX:PYC) announce a drug discovery collaboration using Phylogica’s Phylomer® peptide libraries to discover new drugs for targeting inflammatory diseases.
“Phylomers® are a novel and exciting approach to targeting these inflammatory pathways,” said Dr Heffernan, CEO of Opsona Therapeutics. “We are very pleased to be working with a key player in drug discovery such as Phylogica, whose skills complement our development capabilities”.
In the agreement with Opsona the relevant Phylomer® compounds will be licensed and developed by Opsona, and Phylogica will share in the revenue stream. Phylogica may receive upfront, milestone and royalty payments under the terms of the agreement.
The collaboration will look at certain Toll-like Receptors (TLRs) and also signalling pathways in T-egulatory cells, which are each applicable for the treatment of a number of inflammatory diseases including asthma, autoimmune diseases and atopic dermatitis. Similar to the TNF receptor inhibitor drugs that are a billion-dollar market for Rheumatoid Arthritis, TLR receptors and T-regulatory cells hold great promise for treatment of inflammatory diseases and have not yet been fully explored.
“We are looking forward to working with this global drug development team to discover a new class of Phylomer® drugs that will target Toll-like Receptors and other inflammatory associated pathways” said Dr Stewart Washer, CEO of Phylogica. “Opsona is fast becoming as a world leader in this field, and we are pleased to be collaborating using their exciting technology and expertise. We envisage this will be a very successful collaboration”.
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Opsona Theraputics (www.opsona.com) is a drug discovery and development company, focused on novel therapeutic approaches to treat autoimmune and inflammatory diseases. Opsona’s three scientific founders are world-renowned immunologists at Trinity College Dublin. Opsona is preparing for the clinical development of two immunomodulatory compounds for the treatment of autoimmune and inflammatory diseases. Opsona is based in Dublin Ireland, and raised €6.25m in March 2005, with its investors including Inventages Venture Capital (Bahamas), Seroba BioVentures (Ireland), Genentech (USA) and Enterprise Ireland. Opsona recently completed a major drug discovery and development collaboration with Wyeth Pharmaceuticals.
Phylogica (ASX:PYC) (www.phylogica.com) is a drug discovery company utilizing its proprietary Phylomer® technology to develop a revolutionary new drug for stroke and other anti-inflammatory diseases including rheumatoid arthritis and diabetes. The Company is preparing to commercialise its lead drugs through licensing deals. Phylogica was founded by the Telethon Institute for Child Health Research in Perth (www.ichr.uwa.edu.au) and the Fox Chase Cancer Center in Philadelphia, United States (www.fccc.edu)
Phylomers® are stable fragments of naturally-occurring proteins with the ability to bind tightly to target Proteins and inactivate them as a result. Phylomers® can be selected for activity against specific disease target proteins. The properties of Phylomers® make them attractive as costeffective alternatives to antibodies a proven multi-billion drug class. Phylogica's proprietary Phylomer® Libraries are collections of millions of Phylomers® that represent a source of drug leads which can be used for multiple diseases.