Algeta Signs Exclusive Worldwide License with Affibody for Two Proprietary Molecules for use in New Tumor-targeted Alpha-pharmaceuticals based on Thorium

06-May-2011 - Norway

Algeta ASA announced that it has entered into an exclusive research, development and commercialization agreement with Affibody to develop tumor-targeting alpha-pharmaceuticals based on thorium-227

Under the terms of the agreement, Algeta gains access to two proprietary Affibody® molecules for use in cancer therapy. These molecules are able to bind to two validated tumor targets: HER-2, which is present on aggressive breast tumors, and PDGFRβ, which plays a significant role in angiogenesis associated with solid tumor growth and development. Affibody® molecules are a novel class of small targeting molecules with antibody-like properties that have the potential to be excellent carriers of therapeutic payloads and may in addition have efficacy, safety and pharmacokinetic benefits.

Algeta and Affibody will collaborate on a defined technical program to determine whether the two Affibody® molecules covered by this agreement can be effective carrier targeting molecules for Algeta’s thorium-227 payload.

Algeta will pay a signing fee to Affibody and make further payments based upon the achievement of certain milestones and commercial success. Algeta has an exclusive worldwide license for both HER-2 and PDGFRβ in its chosen field.  If the initial research collaboration is successful, Algeta will be responsible for all preclinical and clinical development of any development candidates that result from this collaboration, and commercialization.

As part of the collaboration, Algeta also gains access to Affibody’s proprietary Albumod™ platform applied to the two Affibody® targeting molecules. This is designed to enhance their efficacy by extending their circulatory half-life.

Thomas Ramdahl, Executive Vice President and Chief Technology Officer, said: “Affibody has unique antigen-binding molecules that could be well suited to creating tumor targeted alpha-pharmaceuticals with thorium-227. We have already obtained interesting results using conventional antibodies and are now looking to broaden the potential utility of our thorium platform by combining our thorium-227 technology with Affibody’s carrier molecules.”

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