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2003/OB/16
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Oxford
BioMedica and EntreMed Enter Agreement on RetinoStat™
Programme
Oxford
BioMedica and EntreMed, Inc announced today a license agreement
through which Oxford BioMedica has access to EntreMed’s
proprietary angiogenesis inhibitor genes for use in its RetinoStat
programme for the treatment of vision-loss via localised delivery.
Under the terms of the agreement, Oxford BioMedica
receives exclusive worldwide rights to use EntreMed’s
angiostatin and endostatin genes in the development of locally
delivered gene-based therapeutics for ocular diseases. Oxford
BioMedica plans to utilise EntreMed’s genes in its RetinoStat
programme for the treatment of age-related macular degeneration
and diabetic retinopathy. RetinoStat is currently in preclinical
development.
Under the terms of the agreement, EntreMed
receives an upfront cash payment, further payments on the
achievement of clinical and regulatory milestones, and royalties
on future worldwide product sales. Additionally, Oxford BioMedica
has issued 301,748 new Ordinary Shares at 26.075p to EntreMed.
Oxford BioMedica is responsible for the development of RetinoStat
and related products and has already entered preliminary commercial
partnership discussions with leading ophthalmic companies.
In addition
to this agreement, Oxford Biomedica and EntreMed are exploring
a possible relationship involving research on hypoxia and
hypoxia-induced diseases. Oxford BioMedica’s proprietary
hypoxia response element (HRE) technology brings genes under
the control of an oxygen-sensitive switch and could have application
in diseases such as cancer, anaemia and cardiovascular disease.
Commenting
on the announcement, Oxford BioMedica’s Chief Executive,
Professor Alan Kingsman said, “This license represents
an important step towards moving Oxford BioMedica’s
RetinoStat programme towards clinical development. We consider
EntreMed’s genes to be the most suitable angiogenesis
inhibitors for the treatment of vision-loss, which is a market
with substantial unmet medical needs. Currently, we are exploring
opportunities to expand our relationship with EntreMed to
investigate additional applications of Oxford BioMedica’s
HRE gene switch technology.”
-Ends-
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| Notes
| 1. |
Oxford
BioMedica |
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Oxford
BioMedica (LSE: OXB) is a biopharmaceutical company
specialising in the development of gene-based products
for a range of unmet medical needs with an emphasis
on new cancer products, which combine novel mechanisms
of action with very low side effects, and innovative
neurotherapy products, which address large and, in several
areas, untapped markets. The products are all protected
by multiple patents comprising a total intellectual
property portfolio of some 69 patent families, which
represents one of the broadest patent estates in the
field.
In
addition to its technical research skill-base, Oxford
BioMedica has in-house clinical, regulatory and manufacturing
know-how. The development pipeline includes two novel
anti-cancer products in clinical trials and a gene-based
treatment for Parkinson’s disease, which is in
late preclinical studies.
TroVax®,
Oxford BioMedica’s lead cancer immunotherapy product,
is in Phase II trials for colorectal cancer. Further
Phase II trials are planned for breast and renal cancer.
MetXia®, Oxford BioMedica’s lead
gene-based cancer therapeutic, is based on a highly
engineered retrovirus gene delivery system expressing
a specific human cytochrome P450 gene. MetXia is being
investigated in a Phase I/II trial in breast cancer,
and regulatory submissions are under review for trials
in pancreactic cancer.
Oxford
BioMedica has a wholly-owned subsidiary in San Diego,
USA. Oxford BioMedica has corporate collaborations with
Wyeth, Intervet, Aliga Pharmaceuticals, Amersham, Arius
Research and Viragen.
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| 2. |
RetinoStat
for vision-loss |
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The main causes of vision-loss in the developed world
are age-related macular degeneration (‘AMD’)
and diabetic retinopathy (‘DR’). These conditions
affect approximately 30 million people in the US and
Europe and the market potential is in excess of $1.0
billion. In both AMD and DR, blindness is caused by
the defective formation of new blood vessels in the
retina. In AMD, new blood vessels extend from the inner
retina beyond the inner limiting membrane, which leads
to haemorrhaging and distortion of the specific area
of the retinal surface responsible for sharp, central
vision. In DR, a similar process occurs however, the
new blood vessels appear on the vitreous surface of
the retina causing excessive accumulation of fluid or
‘oedema’, which blurs vision and causes
retinal haemorrhage. RetinoStat is designed to halt
this aberrant growth of blood vessels and prevent it
recurring. The current treatments for AMD and DR tend
only to slow the diseases’ progression.
Oxford
BioMedica entered a research collaboration with the
Institute of Ophthalmology in May 2002 to use the Company’s
proprietary technology to develop novel treatments for
vision loss. RetinoStat comprises a LentiVector gene
delivery system expressing an angiostatic gene under
the control of Oxford BioMedica’s Hypoxia Response
Element, which promotes gene expression under low oxygen
conditions. |
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| 3. |
EntreMed |
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EntreMed, Inc is a clinical-stage biopharmaceutical
company developing therapeutics that simultaneously
target the biological pathways of angiogenesis (abnormal
blood vessel growth) inflammation, coagulation and/or
apoptosis (programmed cell death) – pathways associated
with over 80 diseases such as cancer, blindness and
atherosclerosis. The Company’s clinical drug candidates,
led by the small molecule Panzem®, have
shown a strong safety profile with neither toxicity
nor clinically significant side effects reported to
date. Further, doctors have reported tumor regression
and disease stabilization in some clinical patients
that have received EntreMed drug candidates. The Company
also has a rich pipeline of small molecule compounds
in preclinical development, consisting primarily of
new chemical entities based on 2-methoxyestradiol-related
structures (steroidal and non-steroidal analogs) and
chemically-derived small molecules from peptides –
peptidomimetics.
For
further information, visit EntreMed’s website.
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further information please contact: |
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Oxford BioMedica plc
Professor Alan
Kingsman, Chief Executive |
Tel: +44 (0)1865 783 000 |
| City/Financial
Enquiries
Mike
Wort/James Chandler
Beattie Financial |
Tel: +44 (0)20 7398 3300
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| Scientific/Trade
Enquiries
Sue
Charles, Katja
Stout,
College Hill - Life Sciences |
Tel:
+44 (0)20 7886 8150 |
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