Amorfix successfully completes ALS drug discovery program

Amorfix Also Achieves Third and Final Milestone Under Biogen Idec Agreement

28-Nov-2008 - Canada

Amorfix Life Sciences announced that it has achieved the third and final milestone under the 2006 research, investment and option agreement with Biogen Idecto discover novel treatments for amyotrophic lateral sclerosis (ALS - Lou Gehrig’s disease).

“The successful completion of the research alliance with Biogen Idec validates the company’s approach to develop treatments for misfolded protein diseases,” said Dr. George Adams, Chief Executive Officer of Amorfix. “We are looking forward to passing the baton to Biogen, who have the resources to quickly progress to the clinical evaluation of our ALS therapies.”

Biogen Idec has an option to license the Amorfix technology for ALS under already defined terms and would be responsible for completing preclinical and clinical development, regulatory approvals, manufacturing and commercialization. If the option is exercised, Amorfix will receive an upfront cash payment and potential milestone payments in excess of US$25 million under the license agreement. Amorfix will also receive royalties on commercial product sales. Biogen Idec must make one final small investment in Amorfix by December 10, 2008 to maintain the option to license the therapies for use in ALS, which must be exercised by February 10, 2009 or the rights expire.

Amorfix achieved the first milestone in July 2007 with the creation of Disease Specific Epitope (DSE™) monoclonal antibodies for misfolded superoxide dismutase-1 (SOD1); and the second milestone in October 2008 with the demonstration that DSE™ antibody treatments significantly improved survival in an animal model of ALS. The third and final milestone was achieved by submitting to Biogen Idec a comprehensive final report on all the research performed during the program.

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Topic world Antibodies

Antibodies are specialized molecules of our immune system that can specifically recognize and neutralize pathogens or foreign substances. Antibody research in biotech and pharma has recognized this natural defense potential and is working intensively to make it therapeutically useful. From monoclonal antibodies used against cancer or autoimmune diseases to antibody-drug conjugates that specifically transport drugs to disease cells - the possibilities are enormous