The financial support from EU's Framework Programme 6 will contribute over the next two years to the further development of the antibody-based product candidate TB-403 for treatment of tumours, inflammation and eye disease. TB-403 has shown good inhibition of PlGF-associated angiogenesis and tumour growth in preclinical models. The first stages in the toxicology programme for this product candidate have already started.
The PlGF growth factor is secreted by tumours and is specifically expressed in cancer and chronic inflammatory conditions. It affects the formation of new blood vessels in tissue that are under stress. PlGF does not seem to affect normal, physiological angiogenesis, unlike other treatments already on the market. Therefore, the inhibition of PlGF is expected to have fewer side effects than existing anti-VEGF agents, but will still have the desired effect on various diseases.
Professor Desire Collen, CEO and Chairman of ThromboGenics, commented on the EU grant: "We are pleased about this grant from the European Community, as it validates our efforts in the development of an important new approach for the treatment of a range of vascular associated diseases. Our preclinical studies to date have shown that the inhibition of PlGF provides benefits which could alter the landscape of anti-angiogenic therapy. The grant will help accelerate and expand our development efforts as we move toward the clinic."
Svein Mathisen, CEO and President of BioInvent, adds: "The support from the European Community should be seen as recognition of the importance and significance of our combined anti-PlGF programme. It is very encouraging that the community has decided to financially back the development of a product candidate that may result in novel treatments for a number of serious diseases."
The anti-angiogenesis collaboration is carried out within the existing alliance between ThromboGenics and BioInvent, originally initiated in September 2004. Another joint programme focuses on the development of anti-Factor VIII monoclonal antibody as a novel anticoagulant therapy. An application to begin Phase I clinical studies is submitted in Denmark. This study of anti-Factor VIII antibody TB-402 is expected to start early next year.
For more information ThromboGenics NV Professor Desire Collen Chief Executive Officer Tel : +32-(0)16-34-61-94
Citigate Dewe Rogerson David Dible Tel: +44-(0)207-638-9571 david.dible@citigatedr.co.uk
Stuart Laermer Chief Business Officer ThromboGenics Inc. Tel: +1-(212)-201-0920
BioInvent International AB Svein Mathisen President & CEO Tel: +46-(0)46-286-85-67 Mobile: +46-(0)708-97-82-13 E-mail: svein.mathisen@bioinvent.com
Cristina Glad Executive Vice President Tel: +46-(0)46-286-85-51 Mobile: +46-(0)708-16-85-70 E-mail: cristina.glad@bioinvent.com
Legal disclaimer
This press release contains statements about the future, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as of the date they are made and are, by their very nature, in the same way as research and development work in the biotech segment, associated with risk and uncertainty. With this in mind, the actual outcome may deviate significantly from the scenarios described in this press release.
Notes to Editors:
ThromboGenics NV is a biotechnology company focused on discovery and development of biopharmaceuÂticals for the treatment of a range of vascular diseases. The Company has several programs in Phase II clinical development including microplasmin, which is being evaluated as a treatment for vitreoretinal disorders and as a thrombolytic agent for vascular occlusive diseases, including acute stroke. ThromboGenics also has five other drug candidates in preclinical development with preclinical proof-of-principle demonstrated, including TB-402 (Anti-Factor VIII) and TB-403 (Anti-PlGF). The Company has built strong links with the University of Leuven and has exclusive rights to certain therapeutics developed at the University. ThromboGenics is headÂquartered in Leuven, Belgium and has subsidiaries in Ireland and the U.S. The Company is listed on Eurolist by Euronext Brussels under the symbol THR. More information is available at www.thrombogenics.com.
BioInvent International AB, listed on The Nordic Exchange (OMXS:BINV), is a research-based pharmaÂceutical company that focuses on developing antibody drugs. The Company is currently running innovative drug projects within the areas of thrombosis, cancer, atherosclerosis, HIV infection and ophthalmic diseases.
These projects are based on a competitive technology platform that covers the value chain for development of new drugs. The scope and strength of this platform is also utilised by partners, such as ALK-Abello, Antisoma, UCB, ImmunoGen, OrbusNeich, Syngenta and XOMA. www.bioinvent.com
The Company, which currently has 97 employees, is located at Ideon in Lund.
Source: ThromboGenics NV
