Isotechnika Retains Global Rights to Voclosporin
EDMONTON, July 21 /CNW/ - (ISA:TSX): Isotechnika today announced that Roche has given up its rights to license voclosporin for solid organ transplant. This allows Isotechnika to open up the opportunity to license voclosporin to potential partners for both transplant and autoimmune indications. "Adding transplant to the list of available indications will greatly strengthen our position and improve the attractiveness of the opportunity to potential partners," states Dr. Robert Foster, Isotechnika's Chairman and CEO.
"While we are disappointed about Roche's different priorities, we feel that this represents the first time since 2002 that we can offer a more comprehensive licensing package including both transplant and autoimmune indications to a focused and strong global partner," states Dr. Foster.
"Our recently announced positive Phase 2b PROMISE trial results confirm voclosporin as an effective immunosuppressive transplant treatment with an improved safety profile," Dr. Foster added. "Voclosporin addresses a significant medical need in the area of solid organ transplant and has the potential to become an important and beneficial part of the immunosuppressive regimens of transplant patients in the future."
Isotechnika will now open up the licensing process to companies with a strategic focus in this therapeutic area. Voclosporin is a unique opportunity for partners focused on growing in a very significant market and looking to strengthen their pipeline by adding a late stage product with excellent commercial potential.
The licensing process will be completed based on an accelerated schedule that takes Isotechnika's interests and current market conditions into account.
Edmonton-based Isotechnika Inc. is an international biopharmaceutical company focused on the discovery and development of novel immunosuppressive therapeutics that are designed to offer advantages over other currently available treatments. There is a significant unmet medical need in the treatment of both solid organ transplantation and autoimmune disease. It is estimated that the market potential will exceed $4 billion annually in sales for calcineurin inhibitors such as voclosporin by 2010.
Voclosporin is a next generation calcineurin inhibitor, which recently completed a Phase 2b North American trial for the prevention of kidney rejection following transplantation. An extension to the Phase 2b trial and a combined Phase 3 European/Canadian trial for the treatment of moderate to severe psoriasis are ongoing. Our partner, Lux Biosciences, is currently conducting three separate Phase 2/3 pivotal trials investigating voclosporin (referred to as LUVENIQTM by Lux) for the treatment of uveitis. Voclosporin has also entered First-in-Man trials as the drug utilized in the CINATRA(TM) Drug Coated Coronary Stent system developed by the Company's partner, Atrium Medical Corporation.
Isotechnika Inc. is a publicly traded company on the Toronto Stock Exchange under the symbol "ISA". More information on Isotechnika can be found at www.isotechnika.com or www.SEDAR.com.
This press release may contain forward-looking statements. Forward looking statements, including the Company's belief as to the potential of its products, the Company's expectations regarding the issuance of additional patents and the Company's ability to protect its intellectual property, involve known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from those in the forward looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue research and development projects, the ability to economically manufacture its products, the potential of its products, the success and timely completion of clinical studies and trials, the Company's ability to successfully commercialize its products, the ability of the Company to defend its patents from infringement by third parties, and the risk that the Company's patents may be subsequently shown to be invalid or infringe the patents of others. Investors should consult the Company's quarterly and annual filings with the Canadian commissions for additional information on risks and uncertainties relating to the forward- looking statements. Investors are cautioned against placing undue reliance on forward-looking statements.
For further information
Robert Foster, Chairman & CEO, Isotechnika Inc., Phone: (780) 487-1600 (x247), Fax: (780) 484-4105, E-mail:[email protected] Stephanie Gillis-Paulgaard, Director, Communications, Isotechnika Inc., Phone: (780) 909-4661, Fax: (780) 484-4105, E-mail:[email protected]