Curis Licenses Bone Morphogenic Protein Technology to Ortho Biotech Products, L.P.
Tuesday November 26, 2:52 pm ET
Compounds in portfolio to be further developed as treatments for systemic complications in chronic kidney disease
CAMBRIDGE, Mass., Nov. 26 /PRNewswire-FirstCall/ -- Curis, Inc. (Nasdaq: CRIS - News) announced today it has licensed its broad bone morphogenetic protein (BMP) technology portfolio to Ortho Biotech Products, L.P., a member of the Johnson & Johnson family of companies. Two of Ortho Biotech's research affiliates, Johnson & Johnson Pharmaceutical Research & Development, L.L.C. and Centocor Research & Development, also members of the Johnson & Johnson family of companies, will have joint responsibility for further research and development of the licensed Curis BMP portfolio.
The transaction covers all of Curis' proprietary BMP compounds including BMP-7, which has been studied in animal models as a treatment for systemic complications (renal osteodystrophy and vascular calcification) associated with chronic kidney diseases (CKD). Use of Curis' BMPs for the repair or regeneration of local musculoskeletal tissue defects and dental defects is the subject of an exclusive agreement with another party and not included in the licensed Curis BMP portfolio.
Cardiovascular disease resulting from vascular calcification is the leading cause of death in the kidney dialysis patient population. In addition to kidney disease, the Curis BMP patent portfolio addresses many other therapeutic areas including the use of BMPs to promote motor skill recovery following stroke and improvement of memory and learning functions following traumatic brain injury.
The agreement provides for cash payments from Ortho Biotech to Curis, including an upfront of $3.5 million and milestone payments at various intervals during the U.S. and European regulatory approval process for the first two therapeutic indications developed. These milestones include a $30 million payment for U.S. regulatory approval of a product for the treatment of kidney disease or associated complications. In exchange for these payments, Ortho Biotech receives the rights to develop and commercialize products based on Curis' extensive BMP patent portfolio, which covers numerous compositions of matter, fields of medical use, and related methodologies. The agreement further specifies that Curis will receive a royalty on net sales of products that incorporate Curis' BMP technologies.
"Curis is very pleased to have Ortho Biotech as its development partner for the BMP technologies. There are very few companies that combine the depth of experience in protein-based pharmaceuticals and the wide range of therapeutic interests as does Ortho Biotech. The breadth of the BMP portfolio and the extensive development capabilities of Ortho Biotech are a very good match," stated Dan Passeri, Curis' President and Chief Executive Officer. "This transaction also provides an important validation of Curis' business model as well as a reaffirmation of the value of developmental signaling pathways as a technology base for therapeutic product development."
About Curis, Inc.
Curis, Inc. is generating therapies that regulate the pathways used by the body to maintain and restore health. The company focuses on signaling pathways that govern the proliferation and differentiation of cells. These same pathways control maintenance, repair, and regeneration of tissues and organs from infancy through old age. This approach has created an approved product for bone regeneration and enables Curis to build a portfolio of product candidates in neurology, kidney disease, and cancer. For more information, please visit the Curis web site at curis.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements concerning Curis' or management's intentions, plans, expectations or predictions of future events are forward-looking statements. Such statements may contain the words "believes", "expects", "anticipates", "plans", "estimates" or similar expressions. Forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those indicated by such forward- looking statements. Actual results can be affected by, among other things, uncertainties relating to product development, clinical trials, regulatory actions or delays, the ability to obtain or maintain patent or other proprietary intellectual property protection, changes in or an inability to execute Curis' realigned business strategy and other risk factors identified in Curis' most recent Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission. Curis disclaims any intention or obligation to update any of the forward-looking statements after the date of this press release.
Contacts
For Curis, Inc.
Christopher U. Missling
Chief Financial Officer
(617) 503-6587
Daniel R. Passeri
President and Chief Executive Officer
(617) 503-6680
Henry W. McCusker
VP Strategic Planning and Communications
(617) 503-6641
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Source: Curis, Inc. |
