RICHMOND, Calif., May 2, 2013 /PRNewswire/ -- Lumiphore, Inc., a biotechnology leader in new proprietary bi-functional metal-chelation technology for use in targeted radiopharmaceuticals has announced that Algeta ASA (OSE:ALGETA), a company focused on the development of novel targeted cancer therapeutics, has exercised its option to take an exclusive worldwide licence to Lumiphore's patented Lumi4® bi-functional chelator technology and has extended the collaboration to include additional chelator families. These technologies are currently being developed by Algeta to conjugate thorium-227 to tumor-targeting molecules to create Targeted Thorium Conjugates (TTCs).
Lumiphore's Lumi4® technology is based on a unique class of bi-functional metal chelators1 that forms a cage structure surrounding and tightly binding thorium-227, which can then be covalently attached to a range of tumor-targeting molecules, such as monoclonal antibodies, to create cancer therapeutics. These bi-functional chelators provide a critical component enabling payload delivery for radio-therapeutic agents. Algeta originally signed an option/license agreement with Lumiphore around this technology in 2010 and subsequently extended it to enable further evaluation to be conducted. This stage of evaluation has now been completed successfully.
In parallel with this license agreement, Algeta has also been granted a license by Lumiphore covering a second class of bi-functional chelators that bind strongly to thorium-227, with the option of including a further selection of compounds within that license, if future exploratory work confirms their promise. Under the agreements, Algeta has the future potential to develop in vivo companion diagnostics for radio-imaging.
"Lumiphore's goal is to bring the benefits of bi-functional metal-chelation technology, through a variety of synthetic designs, to therapeutic markets that use targeted radiopharmaceuticals to treat cancer by the tumoricidal action of the radionuclide micro-irradiation. The ability to chelate radioactive metal isotopes (radiotracers) and covalently attach them to therapeutic antibodies, peptides, proteins, or other receptor targeting molecules will benefit targeted delivery to cancer sites and has the potential to make current therapeutic antibodies more effective," said Dr. Ken Raymond, President and CEO of Lumiphore. "Our technology also offers another therapeutic modality for those using antibody-drug conjugates," explained Steve Blose, Lumiphore's Chief Business Officer. He further explained that pharmaceutical companies using therapeutic antibodies could incorporate Lumiphore's technology to develop site-directed in vivo radiodiagnostics to diagnose and monitor therapeutic efficacy through radio-imaging.
Thomas Ramdahl, Algeta's Chief Technology Officer, said: "Algeta is assembling a broad portfolio of proprietary technologies (including bi-functional chelators, linkers and tumor-targeting molecules), intellectual property and expertise as a platform for generating Target Thorium Conjugates, or TTCs. The addition of the Lumiphore technologies to the portfolio through this license and further option agreements will ensure that we have access to the best bi-functional chelators for thorium-227 as we seek to create a pipeline of TTCs designed to address multiple high-value opportunities in targeted cancer therapy."
About Lumiphore, Inc.
Based in Richmond, California, Lumiphore, Inc., a privately held company, is a biotechnology leader in the development of proprietary fluorescent-metal lanthanide and chelation technology for use in high-value imaging and therapeutic applications which are commercialized through market-specific alliances with corporate partners. Lumiphore has exclusive licenses to the basic science developed at the University of California, Berkeley in the laboratory of Professor Kenneth N. Raymond, a world expert on lanthanide and actinide chemistry. For more information please visit www.lumiphore.com. Lumi4® is a registered mark of Lumiphore, Inc.
Algeta is a company focused on developing novel targeted therapies for patients with cancer based on its alpha-pharmaceutical platform. The Company is headquartered in Oslo, Norway, and has a US subsidiary, Algeta US, LLC, based in Cambridge, MA performing commercial marketing operations in the US. Algeta is listed on the Oslo Stock Exchange (Ticker: ALGETA). For more information please visit www.algeta.com.
For Lumiphore, Inc.
For Algeta ASA
1 Known as aromatic macrocyclic bi-functional chelators (AMBFs): one end binds the radionuclide/radiotracer (thorium-227) and the other end links to the tumor-targeting molecule.
SOURCE Lumiphore, Inc.