From the Peptech annual report (Dec 2001)...
In the year under review, Diversys Limited (“Diversys”), in which we will hold slightly more than 33%, had a number of significant developments that enhanced its prospects earlier than was originally contemplated. In September, Diversys announced that a total of four patents were granted by the US Patent and Trademark Office to which Diversys was granted exclusive rights by the UK Medical Research Council (“MRC”) for the generation of single domain products for applications covering therapeutics, diagnostics and proteomics. In addition, the MRC has also granted Diversys the right to use the patents to generate antibodies for a wide range of applications including proteomics and diagnostics. These patents are valuable to Diversys as they are highly relevant for the manufacture of single domains or antibody fragments. The issue of the four patents complements the Winter II patent granted earlier in June 2001. Another significant development is the recruitment of a number of highly qualified senior executives, who were previously employed in large US based healthcare companies.
Peptech and Diversys have commenced a collaborative research program underwhich our first target, a single domain against TNF, has been nomimated. Peptech expect to take product candidates through pre-clinical development and into clinical trials. On-licensing of some products will be made when maximum value has been added to the products and their
associated intellectual property, but before the large capital outlays necessary for later stage clinical trials are required...
Since the two one-off license payments received in the year
under review and the profit from sale of property will not be repeated next year, it is unlikely that the revenue and profit figures reported on earlier will be surpassed next year. The amount of royalty and milestone revenues for the next financial year will be dependent on when the US Patent is granted, the continued growth in sales of Remicade and when D2E7 is submitted for registration.
Assuming the grant of our US patent applications and the
claims continuing to be upheld, Peptech will continue to receive on-going royalties and remain one of the few profitable biotechnology companies in Australia....
Further consistent with the Company’s strategic decision to develop a strong presence in protein therapeutics, we have established an important international R&D collaboration with the Cambridge (UK) company Diversys, around the therapeutic application of single domains. Diversys’ strengths in protein engineering combined with Peptech’s position in IP, product development and innovation bode well for an exciting future.
We are selectively expanding the skill base, laboratory infrastructure, reagents and assays at Peptech to enable the rapid development of single domains and related protein and
peptide therapeutics...
Tumour Necrosis Factor (TNF) Patent Position
Peptech is building on its strengths in developing its first
therapeutic based on single domain technology against TNF.
We have identified specific applications of single domains against TNF that we are taking forward. In this we springboard not only from a portfolio of patents covering ligands (more specifically antibodies and/or antibody fragments, which bind to TNF and modulate the biological properties of this potent cytokine) but also established reagents and assays and considerable technical know-how and market knowledge.
Peptech has major TNF Binding Ligand patents which are currently granted in Australia, Europe and Canada, and are awaiting approval in Japan and the US. We are focussed on
strengthening this patent portfolio to enhance the protection it offers.
SIngle Domain Binding Proteins
Under Peptech’s collaborative research agreement with Diversys, Diversys will produce single domain binding proteins against four targets nominated by Peptech. For the first target, now nominated, TNF, we have specified desired properties of the single domains and anticipate instigating pre-clinical work on candidate single domains on their provision by Diversys in the latter part of 2002.
For each product candidate from Diversys, Peptech expects to
take each through pre-clinical development and into clinical
trials, to a point of optimum value addition before on-licensing; thus avoiding the huge costs of late-stage clinical trials.
Peptech is currently developing a detailed project plan for the first panel of single domains, and is rigorously researching all available targets for selection of the remaining targets to be nominated to Diversys... |
