Micrologix acquires clinical-stage hepatitis C drug candidate
VANCOUVER, Feb. 3 /CNW/ - Micrologix Biotech Inc., a developer of
anti-infective drugs (TSX: MBI; OTC: MGIXF), has acquired the global rights to
celgosivir (to be designated as "MBI-3253"), a Phase I/II clinical-stage
compound, from Virogen Ltd. (UK). Celgosivir, which has been in over 600
subjects in human clinical studies to date, is a novel, oral antiviral agent
under development for the treatment of chronic hepatitis C virus (HCV)
infections. Micrologix intends to initiate Phase II clinical development with
celgosivir in calendar 2004.
Jim DeMesa, M.D., President & CEO of Micrologix stated, "This acquisition
fits perfectly with our transformational and critical mass building objectives
by adding a clinical stage product opportunity for chronic HCV infections.
Based on the size of recent partnerships for hepatitis products, we see
MBI-3253 as a significant potential value driver for both the short and long-
term. In addition to our antibacterial development programs, our product
portfolio now includes candidates in both hepatitis B and hepatitis C, in
various stages of development, from lead optimization to Phase II clinical
development. This positions us well to address the unmet medical need that
exists globally in the area of hepatitis."
Micrologix will pay an up-front fee in equity to Virogen and will pay
milestone payments in cash and/or equity upon the achievement of agreed upon
development objectives, as well as royalties on product sales and sublicensing
revenues. Specific financial terms of the agreement were not disclosed.
About Celgosivir (MBI-3253)
Celgosivir is an oral prodrug of castanospermine, a natural product
derived from the Australian Black Bean chestnut tree, Castanospermum australe.
Celgosivir is a potent inhibitor of alpha-glucosidase, an enzyme found in
mammalian cells, which affects the early stages of glycoprotein processing.
HCV and other enveloped viruses require proper glycosylation of structural
proteins for one or more of the following: stability, maturation, assembly and
secretion of infective particles. One potential advantage of celgosivir is
that it inhibits a mammalian enzyme rather than a viral target. As a result,
it is less likely to lead to drug-resistant viral mutants, as is seen with
conventional antiviral drugs, and has the potential to be used in combination
with current HCV therapies. |
