Biotechnology Company Announces Progress in Vascular Disease Portfolio

A biotechnology company focused on vascular disease provided an update highlighting progress with its pre-clinical development portfolio.

ThromboGenics NV (Leuven, Belgium) announced an out-licensing agreement for the antibodies against platelet glycoprotein Ib (anti-GPIb) and von Willebrand Factor (anti-vWF), which it has been developing as novel anti-thrombotic agents. This out-licensing deal has been concluded so that the company can focus its resources on its more advanced pre-clinical programs such as TB-403 (anti-PIGF), which is due to enter the clinic later this year. ThromboGenics also confirmed that its current clinical programs are continuing to progress in line with earlier guidance.

TB-403, anti-placental growth factor (anti-PlGF) is a humanized monoclonal antibody that blocks the formation of new blood vessels in solid tumors, reducing the growth and spread of cancer cells. It has a unique mode of action that may provide important benefits in comparison to existing anti-angiogenesis compounds in the treatment of cancer. Toxicology studies with TB-403 are well advanced and this novel antibody is expected to proceed to phase I clinical trials by the end of this year.

PlGF, a vascular growth factor for the treatment of heart failure, is moving as planned both in terms of its pre-clinical evaluation and route of manufacture. Current development efforts are focusing on a variant with superior stability, which should move into toxicology studies by year-end.

Anti-VPAC, a humanized monoclonal antibody that increases the number of blood platelets after bone marrow suppression with chemotherapy, is showing great promise in experimental animal models. This compound, which could move into toxicology studies by 2008, has the potential to replace expensive platelet transfusions that are currently used in clinical practice.

ThromboGenics has decided, in order to focus its resources on these exciting pre-clinical programs, to out-license the antibodies against platelet glycoprotein Ib (anti-GPIb) and von Willebrand Factor (anti-vWF). These antibodies, which have the potential to become novel anti-thrombotic agents, have been out-licensed to the D. Collen Research Foundation, V.Z.W. (DCRF), a charity that supports progress in medical science. In return for this license, ThromboGenics has received a lump sum payment equal to the Company's total investment in the programs, and a 25% share of any future revenue that DCRF may receive from these programs.

Regarding its clinical portfolio, ThromboGenics stated that all previously announced clinical trials with microplasmin and TB-402 (anti-factor VIII) are actively enrolling patients. ThromboGenics will have four unique biopharmaceuticals in clinical development when TB-403 (anti-PlGF) moves into phase I clinical trials later in 2007.

Commenting on this announcement, Prof. Desire Collen, chairman and CEO of ThromboGenics, said, I am happy to report that we are making good progress with both our clinical and pre-clinical development portfolios. The out-licensing deal for our earlier stage pre-clinical programs that we announced, highlights ThromboGenics desire to focus its own resources, on our more advanced programs. This is a strategy which we believe will deliver the most value to our shareholders in the near to mid-term.


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