Sheffield, UK, 24th September 2008 – Asterion Ltd, the third generation biopharmaceuticals company that is developing novel therapeutic products with superior pharmacological profiles, is pleased to announce today that it has signed a Research and Option Agreement with Genzyme Corp. , one of the world’s leading biotechnology companies, to develop a long-acting form of a non-cytokine protein. Under the terms of the Agreement, Genzyme will gain access to elements of Asterion’s IP portfolio surrounding a specific protein target and will perform research work designed to look at the creation of a long-acting and potent version of an undisclosed protein of mutual commercial interest.
In addition to applying its technologies to novel targets, Asterion is focusing on developing third-generation Asterion Fusion Technology (AFT™) therapeutic products that address unmet clinical and commercial needs in large markets where the targets are validated, the clinical development path is known and the commercial opportunity is clearer. If developed successfully, Asterion’s future products have the potential to be used to treat diseases such as anaemia, neutropenia, multiple sclerosis, growth disorders and autoimmune disorders.
Asterion’s lead candidates, long acting AFTTM growth hormone protein candidates, are partnered with the international specialty pharmaceutical group, Ipsen and are being developed for conditions including short stature and acromegaly, a disorder caused by excess production of growth hormone.
Commenting on the deal, Dr Raymond Barlow, CEO of Asterion Ltd, said: “We are pleased to have signed this agreement with Genzyme, which is one of the largest and most experienced global biotechnology firms. This deal endorses and demonstrates the interest that corporate partners have shown towards our ProFuseTM protein engineering approach and the AFTTM therapeutic proteins that are derived from it.” Dr Raymond Barlow added: “This transaction is part of our strategy of securing corporate partnerships on certain protein targets whilst, at the same time, seeking funding for the clinical development of other assets where we believe we can grow value organically. Asterion’s technologies can potentially be applied to a range of cytokine and non-cytokine targets and we hope to be able to exploit the breadth and depth of our portfolio to build value for our investors.”
