ThromboGenics and Rhein Minapharm Announce Agreement for Next-Generation Thrombolytic Agent
Agreement Covers Development and Commercialization of Novel Heart Attack Treatment in Middle East and Africa
ThromboGenics NV and Rhein Minapharm Biogenetics, a subsidiary of Minapharm SAE jointly announced that they have completed a license agreement for the production, clinical development and commercialization of ThromboGenics' THR-174, the next-generation derivative of Staphylokinase, in the Middle East, Africa and other countries comprising the MENA region.
THR-174 is a recombinantly derived thrombolytic agent developed for treatment of acute myocardial infarction (AMI or heart attack), which for the first time could provide patients in the developing world both superior thrombolytic activity and safety, as well as the ability to be treated for more than a single cardiac event. In return for granting this license, ThromboGenics will receive upfront and milestone payments, and will earn double digit royalties on net sales. Rhein Minapharm will assume responsibility for all future costs.
In preclinical studies, THR-174, which is a follow-on product to earlier versions of Recombinant Staphylokinase developed by ThromboGenics, has shown improved efficacy, safety and, most importantly, reduced immunogenic response compared to earlier versions of Staphylokinase, as well as to established thrombolytics, such as streptokinase. Streptokinase is currently the most widely used treatment for AMI and other thrombotic conditions in the developing world. However, there are side effects associated with streptokinase, and repeat administration of this drug requires the use of steroids to address allergic reactions.
The agreement between ThromboGenics and Rhein Minapharm is designed to develop and commercialize THR-174 as a replacement for established thrombolytics, such as streptokinase, in the Middle East, Africa and other countries. This is consistent with ThromboGenics' strategy to make available novel thrombolytic therapies in the developing world. As part of this license deal, ThromboGenics will transfer its THR-174 technology to Rhein Minapharm, which will manufacture the finished drug. With input from ThromboGenics, Rhein Minapharm will be responsible for developing the commercial manufacturing process, implementing a clinical development plan, and gaining marketing authorization to commercialize THR-174 in the Middle East, Africa and other countries. THR-174 is expected to be launched by 2010.
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