|
||
| |||||||
|
|
MNLpharma’s Phytopure™ library provides novel HIV integrase inhibitors for Avexa’s drug development programme London: 8 February 2006 - MNLpharma Ltd, Aberystwyth, UK, and Avexa Ltd, Melbourne, Australia, today announce an exclusive license for Avexa to develop and commercialize a number of HIV Integrase Inhibitors identified from MNLpharma’s Phytopure™ library. Under the terms of the agreement, Avexa will fund the optimisation, preclinical and clinical development, and commercialisation of any resulting products. MNLpharma will receive milestone payments and royalties. The financial terms were undisclosed. This agreement follows an initial collaboration between the two companies in 2004, during which the HIV Integrase inhibitors were discovered in MNLpharma’s Phytopure™ library. Avexa has built considerable expertise with HIV integrase, an enzyme specific to HIV that is essential for viral replication. By generating treatments for HIV/Aids that target this enzyme alone, Avexa hopes to avoid the significant side effect issues associated with many existing HIV drugs. Currently there are no drugs available that target this enzyme, although it has attracted a great deal of interest and research across the industry. In announcing the deal, Hadyn Parry, CEO of MNLpharma said, “We are looking forward to continuing our partnership with Avexa, and to help generate a new generation of drugs for HIV that are both effective and well tolerated. Avexa are leaders in this field and well placed to develop and exploit any novel compounds arising from our Phytopure™ library. This deal fits perfectly with our business model to exploit the Phytopure™ compound library in our non-core areas through partnerships with leading companies in specific technology area, such as Avexa in HIV Integrase.” Julian Chick, CEO of Avexa said, “Around the world 42 million people are living with HIV/AIDS, and there remain significant problems with available drugs to treat the epidemic. We believe there is great promise in the development of a drug which inhibits the enzyme which causes the spread of infection. Our agreement with MNLpharma allows Avexa to pursue exclusively the development of this program and supports our existing HIV Integrase program.” -ENDS- For more information, please contact: Northbank Communications
Adam Michael T: +44 (0)20 7886 8150 a.michael@northbankcommunications.com g.bradley@northbankcommunications.com MNLpharma Hadyn Parry, CEO T: +44 (0)197 082 3201 Avexa Julian Chick, CEO T: +61 3 9271 1121 jchick@avexa.com.au Notes to Editors: About HIV Integrase Integrase is HIV's enzyme for inserting the DNA version of its genome into the host cell's DNA. It catalyses the "cut-and-paste" operation of snipping the host DNA and attaching the viral genome into the host DNA. As human cells do not use a cut and paste integration of DNA into the genome the inhibition of the Integrase enzyme present a unique and optimum drug target. To-date however development of drugs using this approach has been hindered by the lack of novel inhibitory compounds which had drug-like potential. About MNLpharma MNLpharma (‘MNL’) is a private UK drug discovery and development company focused on the exploitation of imino sugar therapeutics for the prevention and treatment of disease. The company’s in-house programmes focus on cancer, and infectious diseases. MNLpharma has discovery and development programmes in the areas of immunomodulation and direct acting antivirals with a number of compounds showing promise against several key viral pathogens where effective treatments are currently lacking. In addition to imino sugars, the company has a unique chemistry platform of pure, novel, drug-like natural compounds called Phytopure™. This collection is being exploited in a limited number of highly targeted collaborations. Whilst its own imino sugar therapeutics are being developed in-house, MNLpharma seeks to exploit Phytopure™ through a limited number of alliances with companies that are leaders in specific fields. About Avexa Avexa Limited is an ASX-listed Melbourne-based biotechnology company with a focus on research and development of anti-infectives. The company is developing drugs for the treatment of infectious diseases that have a significant unmet medical need, in particular a focus on HIV/AIDS and drug-resistant bacterial infections. In January 2005 the company in-licensed the Phase II stage drug, AVX754, from global specialty pharmaceutical company Shire Pharmaceuticals Group. Avexa is currently undertaking Phase IIb trials on AVX754 with results expected in the first half of 2006. Avexa has followed the ASX Code of Best Practice for Biotechnology Companies in preparing this announcement.
|
|
| ||||||||
