Avidex Develops Rheumatoid Arthritis Rival Drug, RhuDex®
17 December 2004 / UK biotech firm Avidex announces that its pre clinical programme for rheumatoid arthritis will soon be complete and releases the highly positive associated data. The scientific paper reporting the synthetic chemistry and biochemical studies on RhuDex® was published today in the scientific journal Chemistry and Biology (Volume 11; Issue: 12). GMP manufacture is underway and human trials are scheduled to start in Spring 2005.
RhuDex® is a first-in-class small molecule CD80 antagonist that works by inhibiting the inflammatory immune responses in autoimmune disease at the earliest stage; specifically blocking T-Cell activation, acting directly against the cause of the disease itself, the inappropriate activation of auto-reactive cells, rather than the symptoms.
Today’s announcement follows the recent surge of press coverage surrounding treatments for rheumatoid arthritis. RhuDex® has an entirely different mode of action to the Cox-2 inhibitors such as Vioxx, the painkiller withdrawn by Merck in September this year.
Avidex’s new drug (if successful in trials and granted regulatory approval) will appeal to the majority of RA patients as it will be the only oral treatment of its kind. The newer antibody-based anti-TNF drugs for RA that have recently come to the market and are generating multi-billion dollar sales (Remicade, Enbrel, and Humira), require the patients to be given infusions or injections. RhuDex® not only blocks the release of TNF from inflammatory cells but also prevents a range of other inflammatory cytokines being released.
Dr Bent Jakobsen, Chief Scientific Officer of Avidex commented:
"The positive biochemical and pre-clinical results for RhuDex®, mark a significant milestone for Avidex in the development of what could be a highly successful and valuable product. We are delighted that a small dedicated team in a biotech company is able to develop drug candidates that can potentially rival those produced by the larger pharmaceutical companies. Our data suggests a positive outlook for RhuDex® potentially to become a world class RA medicine."
RhuDex® blocks the same pathway as the BMS drug, Abatacept (CTLA4- Ig), which, following a two-year study, recently reported successful phase II clinical data at the American College of Rheumatologists. Avidex’s product will enter human clinical trials in March 2005 and so far has obtained clean pre-clinical safety and toxicology results.
RhuDex® is the first drug from Avidex ready to enter trials in humans and represents a significant commercial opportunity for the Company. The annual market for rheumatoid arthritis drugs exceeds $14bn and RhuDex® has potential sales of over $2bn should it successfully complete its clinical development and testing phases.
About Avidex Limited
Avidex is a biotechnology company focused on the development of small molecule and protein therapeutics involving T cell receptors – either as drug targets or as the therapeutic molecule. Avidex has two key programmes leading to novel treatments in cancer, inflammation and autoimmune diseases. Its breakthrough monoclonal T cell receptor (mTCR) technology enables the production of fully human, soluble T cell receptors. These mTCRs can deliver immunological effector molecules to cancer cells, and can block activation of T cells in autoimmune disease.
In April 2002, Avidex entered into an exclusive licence agreement with Active Biotech AB, covering Active Biotech’s patented small molecule CD80 antagonists. The Agreement gave Avidex the exclusive right to evaluate these small molecules, and to develop and market products incorporating them or their derivatives. Since the signing of the Agreement, Avidex has made significant progress. Highly potent orally available lead compounds with activity in biochemical and cellular assays have been identified for further optimisation and are the basis for the publication today. From this work Avidex selected its lead compound, RhuDex®, in pre-clinical development.
Avidex is developing these programmes and its strategy is to take products through final development phases and to the market through corporate alliances. Avidex also commercialises its proprietary mTCR platform through partnerships.
Avidex was formed in 1999 as a spin out from Oxford University. The Company employs 50 staff and is based in Milton Park, near Oxford, UK. The Company has raised over £25 million to date, and investors include Advent Venture Partners, Oxford Technology Venture Capital Trust plc and Quester.
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