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TopoTarget A/S Grants Multimeric Biotherapeutics, Inc. an Exclusive License to the Megaligand Platform of TNF Superfamily Ligands


10/31/2011 8:49:52 AM

October 28, 2011, La Jolla, CA and Copenhagen, Denmark – Today Topotarget A/S (NASDAQ OMX: TOPO.CO) and Multimeric Biotherapeutics, Inc. (Multimeric) announced the signature of an exclusive license agreement granting Multimeric rights to the further development of the multimeric TNF superfamily ligands (TNFSFs) for all therapeutic uses. TNFSFs are not a core activity of Topotarget IP assets. Topotarget continue to focus efforts on its lead compound the HDACi belinostat.

Under the agreement, Multimeric will license the rights to all multimeric fusion proteins containing TNFSFs which are covered by Topotarget’s issued and pending patents in Europe, US, Canada, Japan, Australia, South Korea, and other territories. The agreement also grants Multimeric the rights to sub-license. “This agreement unifies the patent estates of our two companies for the therapeutic applications of the TNFSFs (other than FasL),” said Dr. Richard S. Kornbluth, President and Chief Scientific Officer of Multimeric. The key to the technology is a means for producing TNFSFs as highly active, many-trimer proteins. Included in the agreement are multimeric forms of CD40 ligand (CD40L), GITR ligand (GITRL), and other TNFSFs that are the subject of much current scientific and medical interest.

“By concluding this deal Topotarget is able to complement Multimeric’s IP portfolio thereby enabling their continued global development within the TNFSFs, field ” said Inge Lauritzen VP of Business Development and Licensing at Topotarget.

No details on the terms of the agreement were disclosed.

Today’s news does not change Topotarget’s full-year financial guidance for 2011.

Topotarget A/S

For further information, please contact:

Annette Lykke, IR Direct: +45 39 17 83 44; Mobile: +45 23 28 98 14

Multimeric Biotherapeutics, Inc.

For further information, please contact:

Richard Kornbluth, 619-846-8603

Background information

About Multimeric

Multimeric Biotherapeutics, Inc., a Delaware corporation was spun out of technology developed by Dr. Kornbluth when he was at the University of California San Diego. Multimeric’s lead products include immunotherapy protocols for cancer and vaccines against chronic viral infections. The company is privately held and is supported by its founders, angel investors, and NIH grants. It has offices in La Jolla, CA and laboratories at the San Diego Science Center in San Diego, CA. For more information, please refer to www.multimericbio.com

Multimeric Biotherapeutics, Inc.

Email: info{at}multimericbio.com

5580 La Jolla Blvd. Ste 76

Web: www.multimericbio.com

La Jolla, CA 92037-7651

About Topotarget

Topotarget (NASDAQ OMX: TOPO.CO) is a Scandinavian-based international biotech company headquartered in Denmark, dedicated to improve cancer therapies. In collaboration with Spectrum Pharmaceuticals Inc. Topotarget currently focuses on the development in pivotal studies of its lead drug candidate, belinostat, which has demonstrated a clear anti-neoplastic effect in both hematological malignancies and solid tumors. Belinostat can be used in combination with full doses of chemotherapy, and is currently in a pivotal trial within PTCL (peripheral T-cell lymphoma) and phase II in cancer of unknown primary site (CUP). Topotarget’s cancer drug target is HDAC. Totect® is a product on the market developed from Topotarget’s drug discovery technology. Totect® is marketed by the company’s own sales specialists in the US. The European rights to Savene® were divested in March 2010 as a consequence of the focus to develop and commercialize belinostat. For more information, please refer to www.topotarget.com

Topotarget Safe Harbour Statement

This announcement may contain forward-looking statements, including statements about our expectations of the progression of our preclinical and clinical pipeline including the timing for commencement and completion of clinical trials and with respect to cash burn guidance. Such statements are based on management's current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forwardlooking statements. Topotarget cautions investors that there can be no assurance that actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors, including, but not limited to, the following: The risk that any one or more of the drug development programs of Topotarget will not proceed as planned for technical, scientific or commercial reasons or due to patient enrollment issues or based on new information from non-clinical or clinical studies or from other sources; the success of competing products and technologies; technological uncertainty and product development risks; uncertainty of additional funding; Topotarget's history of incurring losses and the uncertainty of achieving profitability; Topotarget's stage of development as a biopharmaceutical company; government regulation; patent infringement claims against Topotarget's products, processes and technologies; the ability to protect Topotarget's patents and proprietary rights; uncertainties relating to commercialization rights; and product liability exposure; We disclaim any intention or obligation to update or revise any forward- looking statements, whether as a result of new information, future events, or otherwise, unless required by law.


Read at BioSpace.com


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