Protherics Acquires Novel Vaccine Adjuvant And Prepares For Phase 2 Study Of Its Angiotensin Vaccine
Wednesday June 7, 1:58 am ET
Cheshire, UK--(MARKET WIRE)--Jun 7, 2006 --London, UK, Brentwood, TN, 7 June 2006 - Protherics PLC ("Protherics" or the " Company"), the international biopharmaceutical company focused on critical care and oncology, today announces that it has signed an agreement with CoVaccine BV ("CoVaccine"), a Dutch company, to acquire CoVaccine's novel adjuvant. The adjuvant has been selected by Protherics for inclusion in its Angiotensin Vaccine, for the treatment of hypertension, following screening of a number of third party proprietary adjuvants.
In preclinical models, a new formulation of Angiotensin Vaccine containing CoVaccine's adjuvant resulted in a 10 fold higher level of antibody production against angiotensin than the formulation previously used by Protherics in its Phase 2a study. We are greatly encouraged by these findings, considering the positive pharmacodynamic response we observed in patients with the previous formulation of Angiotensin Vaccine.
Protherics has now completed non-clinical safety testing of the CoVaccine adjuvant and is commencing GMP manufacture of both the adjuvant and the vaccine. This will allow Protherics to start a phase 2a proof of concept study with the new formulation in the second half of 2007. The goal of this study will be to confirm that the new formulation increases levels of anti-angiotensin antibodies in hypertensive patients and to establish whether this results in a reduction in blood pressure.
Protherics will pay CoVaccine up to EUR 1,050,000, which is to be satisfied by the grant of the right to receive 295,413 Protherics ordinary shares, following the signing of the deal, and a further 590,826 Protherics ordinary shares upon completion of two development related milestones. CoVaccine is also entitled to receive a low single digit royalty on net sales of products containing the CoVaccine adjuvant.
Dr Andrew Heath, Chief Executive of Protherics, said: "This adjuvant produced a dramatic increase in antibody response when compared with other third party adjuvants we tested, and we are excited to have acquired it for our Angiotensin Vaccine programme. The market for the treatment of high blood pressure is estimated to be in excess of $30 billion per annum, and with positive phase 2 data, our Angiotensin Vaccine could provide another major out-licensing opportunity for Protherics."... |
