LEUVEN, Belgium/PRNewswire/ --
Oxurion NV (Euronext Brussels: OXUR), a biopharmaceutical company developing innovative treatments to preserve vision in patients with diseases affecting the back of the eye, announced today that it entered into a strategic research collaboration with Beta Therapeutics Pty Ltd (Canberra, Australia) to develop new heparanase inhibitors for the treatment of retinal disorders with large unmet medical needs such as dry age-related macular degeneration.
Under the terms of the agreement Oxurion will have an exclusive option to license in the heparanase inhibitor program. Beta Therapeutics will receive an undisclosed upfront payment from Oxurion and is eligible to receive a payment upon exercising the licensing option, development, regulatory and commercial milestone payments, as well as royalties on net sales on the products developed under the partnership.
Heparanase is an endoglycosidase playing an important role in modifying the extracellular matrix and in inflammatory processes. Over-expression of heparanase occurs under pathological conditions resulting in detrimental changes in the extracellular matrix and tissue micro-environment. In the retina, heparanase has been implicated in Diabetic Retinopathy (DR) and potentially in Age-related Macular Degeneration (AMD) pathogenesis.
Patrik De Haes, MD, CEO of Oxurion nv, commented: "We are very excited about this new collaboration with Beta Therapeutics. As our DME clinical programs are progressing well, we continue to leverage our unique knowhow and expertise for exploring, identifying and eventually acquiring innovative molecules to treat diseases in the back-of-the-eye with the highest unmet medical need such as dry age-related macular degeneration."
"We are pleased to collaborate on this exciting program with Oxurion as we have been impressed by their expertise in the field as well as their development capabilities. This partnership is a recognition of all the work on heparanase carried out at Beta Therapeutics and at the Australian National University," stated Dr. Keats Nelms, CEO & Co-Founder of Beta Therapeutics.
About Beta Therapeutics
Beta Therapeutics is developing therapeutics directed toward a novel and critical mechanism observed in inflammatory micro-environments of diseases including diabetes and retinopathy.
The company develops inhibitors of heparanase, an enzyme that mediates inflammatory micro-environments through its role in the activation of local inflammatory cells as well as the breakdown of extracellular components essential for cytokine and growth factor turnover. The company's drug development programs are based on discoveries made by company scientific founders Prof. Chris Parish and Dr. Charmaine Simeonovic and colleagues at the John Curtin School of Medical Research of the Australian National University.
The company's novel small molecule heparanase inhibitors have applicability in a range of therapeutic areas including diabetes and it has demonstrated that these therapeutics exhibit significant efficacy in disease models that progress due to inflammation in specific tissue micro-environments. More information is available at www.betatherapeutics.com.au.
For further information please contact:
Oxurion NV
Wouter Piepers,
Global Head of Corp Coms & Investor relations
+32-16-75-13-10 / +32-478-33-56-32
wouter.piepers@oxurion.com
Beta Therapeutics
Keats Nelms
Chief Executive Officer
keats.nelms@betatherapeutics.com.au
EU - Citigate Dewe Rogerson
David Dible/ Sylvie Berrebi
Tel: +44-(0)20-7638-9571
oxurion@citigatedewerogerson.com
US - LifeSci Public Relations
Alison Chen
+1-646-876-4932
achen@lifescipublicrelations.com
Important information about forward-looking statements
Certain statements in this press release may be considered "forward-looking". Such forward-looking statements are based on current expectations, and, accordingly, entail and are influenced by various risks and uncertainties. The Company therefore cannot provide any assurance that such forward-looking statements will materialize and does not assume an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Additional information concerning risks and uncertainties affecting the business and other factors that could cause actual results to differ materially from any forward-looking statement is contained in the Company's Annual Report. This press release does not constitute an offer or invitation for the sale or purchase of securities or assets of Oxurion in any jurisdiction. No securities of Oxurion may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom, and in accordance with any applicable U.S. state securities laws.
