Amorfix and JSW Sign LOI for Exclusive Worldwide License of Preclinical Alzheimer's Disease Diagnostic Technology
TORONTO, Jan. 9, 2012 /CNW/ - Amorfix Life Sciences, a product development company focused on diagnostics and therapeutics for misfolded protein diseases, today announced that it has signed a letter of intent with JSW-Lifesciences GmbH, a contract research organization specializing in Alzheimer's and other CNS diseases, to license its pre-clinical Alzheimer's disease diagnostic test, the Amorfix Aggregated Abeta Assay (the A4). The A4 is an ultra-sensitive assay that measures the levels of aggregated Beta-amyloid (Abeta) in brain, spinal fluid (CSF), and plasma from pre-clinical animal models used for Alzheimer's disease research. JSW plans to add the A4 to its suite of preclinical research services provided to pharmaceutical companies and academic research institutions involved in Alzheimer's disease research and development.
The LOI sets out the business and financial terms which the parties have agreed will be part of any formal agreements, including exclusivity of the license to perform the A4 as a service in the area of pre-clinical Alzheimer's disease studies, transfer of know-how and technology, and supply of key proprietary materials from Amorfix. In return, JSW will commit to minimum annual sales, a royalty on net sales, and defined marketing activities. Terms of the LOI will only become binding once they are incorporated into a formal agreement.
"We are excited to be working with JSW", said Dr. Robert Gundel, Amorfix President and CEO. "JSW is a large, successful CRO with a great reputation and solid experience in neurodegenerative diseases and the resources to create a significant market for the A4. This will provide a revenue stream for Amorfix and allow us to focus our resources on advancing our other diagnostic and therapeutic programs forward."
Dr. Manfred Windisch, CEO and President of JSW-Lifesciences adds, "The possibility to add the ultrasensitive A4 assay to our portfolio of services will allow us to extend efficacy studies for anti-amyloid strategies into very early state of development of pathology in in vivo studies. This will enable us to address important questions about treatment effects in early Alzheimer's disease. This could mean an important step forward in the development of new therapies of this devastating disease. Amorfix has validated their new diagnostic tool already in several disease models, which encourages us to move now forward in close collaboration."
JSW Life Sciences is a full service contract research organization, offering preclinical as well as clinical research services. The preclinical research department focuses on drug development for neurodegenerative diseases, including Alzheimer's, Parkinson's and ALS, but also on Stroke, Depression, Psychosis and Schizophrenia. JSW's profound expertise in neuroscience and more than a decade of experience in contract research result in a sustainable advantage for the customer. Validated transgenic & non-transgenic in vivo & in vitro models to address new as well as already established drug targets in neurodegenerative diseases are available. For more information about JSW, visit www.jsw-lifesciences.com.
Amorfix Life Sciences Ltd. (TSX: AMF) is a product development company developing therapeutic products and diagnostic devices targeting misfolded protein diseases including Alzheimer's Disease (AD), cancers, and ALS. Amorfix utilizes its computational discovery platform, ProMIS™, to predict novel Disease Specific Epitopes ("DSEs") on the molecular surface of misfolded proteins. Cancer immunotherapies have in the past been directed against targets which are also present on normal cells, whereas Amorfix's innovative ProMIS platform identifies targets present only on cancer cells, retaining efficacy with improved safety. Amorfix's lead programs include therapeutics and companion diagnostics for cancers, antibodies and vaccines to DSEs in ALS and AD diagnostic tests. Amorfix's proprietary Epitope Protection™ technology enables it to specifically identify very low levels of misfolded proteins in a biological sample. The Company's diagnostic programs include an ultrasensitive method for the detection of aggregated beta-Amyloid in brain tissue, CSF and blood from animal models of AD, months prior to observable amyloid formation, and development of a human screening test for AD. For more information about Amorfix, visit www.amorfix.com.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This information release may contain certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company's current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.For further information:
| Dr. Robert Gundel |
President and Chief Executive Officer
Amorfix Life Sciences Ltd.
Tel: (416) 847-6957
Fax: (416) 847-6899
| Janet Clennett |
Acting Chief Financial Officer
Amorfix Life Sciences Ltd.
Tel: (416) 847-6926
Fax: (416) 847-6899