August 1, 2011 (Saint Genis Pouilly, France): Advanced Accelerator Applications (AAA), a fast growing international player in molecular nuclear medicine, today announced it has acquired rights to FabOvar, a humanized monoclonal antibody fragment, from Dompé, a leading Italian biopharmaceutical company. Financial details of the transaction were not disclosed.
FabOvar, an iodine-131-labelled fully-humanized monoclonal antibody fragment, currently in pre-clinical development, is being pursued for the treatment of ovarian carcinoma. FabOvar has a well known mechanism of action: selective binding of overexpressed a-Folate Receptor (a-FR) which makes it an ideal candidate for the locoregional (intraperitoneal) treatment of ovarian carcinoma metastatized in the peritoneum. The development will benefit from the active collaboration between the two companies and the respective production capabilities of the Active Pharmaceutical Ingredient (Dompè) and of the radiolabelled product (AAA).
The incidence and prevalence of ovarian cancer continues to increase worldwide in line with aging populations and improved diagnosis. For these reasons the global ovarian cancer therapeutics market is expected to reach $1.77 billion by 2017.*
Stefano Buono, Chief Executive Officer of AAA, commented: “Ovarian cancer is the fifth most common cancer among women and there is a real need for new approaches to treating it. In previous studies FabOvar is an evolution of a previous murine monoclonal antibody fragment which was shown to be well tolerated and induced a positive response when administered as a single administration in patients but which was seen to induce inadequate immunological response. The fully-humanized version should solve this problem. It is an excellent addition to our growing pipeline of highly targeted radiotherapy products.”
“This collaboration on FabOvar is an exciting opportunity for Dompé as it supports the objective of the Group to reinforce our responsible contribution to the research and development of therapeutic solutions for unmet medical needs” stated Eugenio Aringhieri, CEO of Dompé farmaceutici S.p.A. ”Although more precise diagnosis of diseases has been steadily increasing over the last few years, the number of drugs available for their treatment is still limited. We believe that the targeted and personalized research programs of AAA will offer significant treatment advantages compared to currently available products. This strongly motivated us to invest in AAA.”
AAA recently announced that Dompé had subscribed a 7.7% stake in AAA as part of a €40 million capital increase. It also announced that Eugenio Aringhieri, CEO of the Dompé Group, was appointed to the AAA Board of Directors with effect from 28 June 2011.
* GlobalData, December 2010
About Advanced Accelerator Applications
Advanced Accelerator Applications (www.adacap.com), is a European pharmaceutical company founded in 2002 to develop innovative diagnostic and therapeutic applications and products. AAA’s main research focus is in the field of Molecular Imaging and individualised therapy for patients with serious conditions (Personalized Medicine). AAA is a European leader in the production and commercialization of PET (Positron Emission Tomography) radiopharmaceuticals. AAA currently has 11 production and R&D facilities in five countries (France, Italy, Switzerland, Spain and USA) and 160 employees.
For the year ending December 31, 2010, AAA reported revenues of €29.7 million (+22% vs 2009), an EBITDA of €7.5 million (27.4% of net sales) and R&D investments in excess of €15 million.
Dompé is one of the main Italian biopharmaceutical companies, focused on advanced and innovative solutions for unmet medical needs. It is a fully-fledged company, capable of covering all the stages of the pharmaceutical process, from the research to development, from production to commercialization. Its products are commercialized in more than 60 Countries worldwide.
Dompé’s innovation is also characterized by an expanding network of alliances with global biopharmaceutical companies, such as Amgen and Biogen Idec. Its current focus is on the development of proprietary research and product pipeline, with particular emphasis on the rare diseases.
Headquartered in Italy, in 2010 the Group’s turnover reached 529 million €, including Biogen Dompé and Amgen Dompé, with more than 10% of revenues invested in R&D. For further information, please visit www.dompe.com.
About Molecular Nuclear Medicine
Molecular Nuclear Medicine is a medical specialty using trace amounts of active substances, called radiopharmaceuticals, to create images of organs and lesions and to treat various diseases, like cancer. The technique works by injecting into the patient’s body targeted radiopharmaceuticals that accumulate in the organs or lesions that reveal specific biochemical processes.
Molecular Nuclear Diagnostics employs a variety of imaging devices and radiopharmaceuticals. PET (Positron Emission Tomography) and SPECT (Single Photon Emission Tomography) are highly sensitive imaging technologies that enable physicians to diagnose different types of cancer, cardiovascular diseases, neurological disorders and other diseases in their early stages.
Molecular Nuclear Therapy uses radiopharmaceuticals that emit electrons, the same particles used in Radio Therapy (treating cancers using particle accelerators). By targeting special radiopharmaceuticals specifically to the tumors, these electrons are emitted only locally for a certain amount of time and cure by destroying the unhealthy tissues, allowing an efficient treatment and sparing surrounding healthy tissues. For the analogy to Radio Therapy, this technique is also called Radio Metabolic Therapy (RMT).
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