STALLERGENES exercised option to pursue the exclusive development of application of ActoGeniX's technology for targeted delivery of allergen-based treatments
ANTONY, France and GHENT, Belgium, Nov. 20, 2014 /PRNewswire/ -- STALLERGENES S.A. (Euronext Paris), a global healthcare company specialized in the diagnosis and treatment of allergies through allergen immunotherapy-based solutions, announced today that it has exercised the option to pursue the exclusive development of an innovative new class of oral allergy treatments in partnership with ActoGeniX NV, creator of ActoBiotics™, in accordance with the contract signed in December 2013.
The collaboration centers on the development of a novel treatment approach based on allergen-specific tolerance through innovative delivery of allergens expressed and secreted by the allergen-secreting L.lactis bacteria. Stallergenes and ActoGeniX have successfully conducted a Proof of Principle (PoP) study in preclinical models to validate the application of ActoGeniX's technology to allergens.
Dr. Bernard Coulie, Chief Executive Officer of ActoGeniX, said: "The PoP study provides the scientific basis for the applicability of our technology platform in allergen immunotherapy. We are extremely pleased to continue our collaboration with Stallergenes while we focus on progressing our existing pipeline and validating our technology platform in new therapeutic areas."
Dr. Philippe Moingeon, Senior Vice President, Research and Pharmaceutical Development of STALLERGENES, said: "With this first study, we are confident that the first-in-class technology platform provided by ActoGeniX is an innovative breakthrough that can offer targeted delivery of allergen-based treatments and further increase the efficacy of allergen immunotherapy. Our investment in such new technologies reflects Stallergenes' commitment to innovation."
On December 2, 2013, STALLERGENES and ActoGeniX entered into an agreement for the development of innovative first-in-class treatments of allergic diseases. Under the terms of this agreement, ActoGeniX is responsible for the creation of clinical product candidates based on the application of ActoBiotics™ genetically engineered lactic acid bacteria to a set of allergens defined by Stallergenes. STALLERGENES will have full development and exclusive worldwide commercialization rights to such clinical product candidates, and ActoGeniX will be eligible to receive preclinical, clinical, regulatory and commercial payments if certain milestones are reached, totaling up to € 75 million per allergen, as well as tiered royalties on the future product's net sales.
ActoGeniX is a biopharmaceutical company focused on the development and commercialization of ActoBiotics™, a novel class of orally available biopharmaceuticals for the targeted treatment of severe diseases with a high medical need. ActoBiotics™ represent a novel concept for oral administration of therapeutic proteins, and are designed to be safer and more effective than injectable biopharmaceuticals. ActoBiotics™ can deliver a wide range of therapeutic peptides and proteins, including cytokines, enzymes, hormones and monoclonal antibodies.
ActoGeniX has confirmed the broad applicability of ActoBiotics™ and its proprietary technology platform for a wide range of diseases, including oral, gastrointestinal, metabolic, immune, and allergic diseases.
ActoGeniX was founded in 2006 as a spin-off from VIB and Ghent University. The Company is headquartered in Ghent (Belgium) and employs 22 staff. ActoGeniX raised 46 million Euro (approximately 60 million US$) in 3 equity financing rounds from a consortium of leading life sciences investors such as Gimv, Biotech Fund Flanders, Baekeland Fund, Biovest, Saffelberg Investments (Belgium), Life Sciences Partners, Aescap Venture (The Netherlands) and Ventech (France).
ActoGeniX has a strong and broad intellectual property position with a patent estate encompassing more than 20 distinct patent families. With broad patent claims already granted in major territories like the US, Europe, Japan, and China ActoGeniX is uniquely positioned to successfully exploit the commercial potential of its promising ActoBiotics™.
STALLERGENES is a global healthcare company specialized in the diagnosis and treatment of allergies. For more than 50 years, it has been expanding the existing frontiers of science in order to provide allergy patients with more effective long-lasting therapeutic options. Thanks to its innovation strategy, fuelled by investments amounting to around 20% of total annual revenues as well as external partnerships, STALLERGENES is able to provide targeted allergen immunotherapy-based allergy solutions that significantly improve the lives of allergy patients around the world.
STALLERGENES operates in 21 countries and employs over 1,000 people. In 2013, the Company generated total revenues of €248 million, and more than 500,000 patients were treated with STALLERGENES products.
Euronext Paris (Compartment B)
Additional information is available at http://www.stallergenes.com
Forward-looking statements related to Stallergenes
This press release may contain forward-looking statements, including forecasts of future revenue and operating profit as well as expected business-related events. Such statements are based upon the current beliefs and expectations of Stallergenes' management and are subject to risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements, due to various factors. Without being exhaustive, such factors include economic situations and business conditions, including legal and product evaluation issues, fluctuations in currencies and demand, changes in competitive factors and reliance on suppliers. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events and except as required by law.
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