Alliance and License Agreement Executed to Further Develop ATL1102
Antisense Therapeutics Limited ("ANP" or "the Company") is pleased to advise that it has executed a Strategic Alliance and License Agreement with Tianjin International Joint Academy of Biotechnology and Medicine (TJAB) to further develop and commercialise ANP's drug ATL1102. ATL1102 has potential applications in multiple sclerosis, stem cell mobilisation and asthma. On 29 February 2012, ANP announced that a non-binding Terms Sheet Agreement between ANP and TJAB had been executed that specified that the parties were to establish a Strategic Alliance and JointVenture (JV) operation.
The legally binding Strategic Alliance and License Agreement now executed between the parties formally establishes the terms and conditions proposed in the Terms Sheet Agreement. Based on
successful study outcomes, TJAB will be responsible for commercialisation of ATL1102 in China and Hong Kong and ANP will be responsible for its commercialisation in the rest of the world (ROW). ANP and TJAB will share income derived from the commercialisation of ATL1102 based on agreed splits that vary depending on the level of investment made by TJAB and its investors for product development and in what countries the commercialisation benefits are generated. These percentage splits range in China and Hong Kong from 50–80% for TJAB and from 20-50% for ANP, and in ROW from 10-35% for TJAB and from 65-90% for ANP.
ANP will provide the JV operation with access and appropriate licenses to the ATL1102 patents and patent applications as well as related know-how for ATL1102 research and development and
commercialisation purposes. TJAB and its investment partners will fund the agreed development activities to be undertaken by the JV.
The Strategic Alliance and License Agreement contains certain conditions precedent that must be met before the Agreement comes into full operation and development activities can commence. These include the completion of a Shareholders' Agreement whereby the JV Company is to be set up in Hong Kong with the issued share capital 51% TJAB and 49% ANP and reflecting TJAB's and its investment partners' financial contribution, and for certain agreements or arrangements to be in place with third parties related to ATL1102 IP and the supply of raw material. Under terms of the Agreement, ANP will not be required to provide any funding towards the development activities of the JV Company. It is anticipated that these conditions will be satisfied in time for the initial development activities to commence by end of September 2012.
The initial development activities proposed to be undertaken by the JV include accessing ATL1102 raw material and formulating this material into injectable product for use in a planned chronic toxicology study in one species. This toxicology study is to support the conduct of a Phase IIb study of ATL1102 in MS patients. Other development activities proposed to be undertaken by the JV include a first in man stem cell mobilisation study and a potential Phase II study in asthma patients. Prof Yao-Zhou Zhang, Senior Vice President, Tianjin International Joint Academy of Biotechnology & Medicine stated "TJAB is delighted to have executed this Strategic Alliance and License Agreement with Antisense Therapeutics. We are excited to be co-operating in the joint development of ATL1102 which we believe has significant commercial potential. The chronic toxicology study will be conducted in China at one of our leading Contract Research Organisations with whom we have a close association. We look forward to starting this toxicology study and to expanding the development activity into clinical investigations in multiple sclerosis, stem cell mobilisation and asthma."
ANP Managing Director and CEO Mark Diamond stated "We are very pleased to be in a position to be moving ATL1102 back into development in collaboration with TJAB. It is also pleasing for the Company to have delivered on this key partnering commitment and to do so on schedule and on budget. We look forward to the successful progress of this JV collaboration and in turn to delivering increased value from ATL1102 for ANP and for our shareholders." Background Information
Antisense Therapeutics Limited (ASX: ANP) is an Australian publicly listed biopharmaceutical drug discovery and development company. Its mission is to create, develop and commercialise second generation antisense pharmaceuticals for large unmet markets. ANP has 4 products in its development pipeline. ATL1102 (injection) has successfully completed a Phase
II efficacy and safety trial, significantly reducing the number of brain lesions in patients with multiple sclerosis. ATL1103 is a second-generation antisense drug designed to block GHr production and thereby lower blood IGF-I levels and is in clinical development as a potential treatment for growth and vision disorders. ATL1102 (inhaled) is at the pre-clinical research stage as a potential treatment for asthma. ATL1101 is a second-generation antisense drug at the pre-clinical stage being investigated as a potential treatment for prostate cancer.
Tianjin International Joint Academy of Biotechnology and Medicine TJAB was established as part of an initiative of the Chinese Government and State Food and Drug Administration to accelerate economic growth and develop China's biotech industry. TJAB was officially opened in June, 2009 and received an investment of 1.1 billion RMB (A$162 million) from the Tianjin Binhai New Area to install specialized devices and apparatus in a new technology facility. TJAB have since completed notable deals with Genzyme Corporation and Johnson and Johnson. http://www.tjab.org/English/Pages/Home.aspx
Contact Information: Website: www.antisense.com.au
Managing Director: Mark Diamond +61 (3) 9827 8999
Investor Relations: Simon Watkin +61 (0) 413 153 272