TORONTO, June 3 /CNW/ - Amorfix Life Sciences Ltd. (TSX:AMF) and Pan-Provincial Vaccine Enterprise Inc. (PREVENT) of Saskatoon, Saskatchewan, today announced that the two groups have entered into a licensing agreement granting PREVENT exclusive worldwide rights to Amorfix's lead amyotrophic lateral sclerosis (ALS) vaccines. The vaccines have shown efficacy in animal models of ALS and PREVENT will now, at their expense, complete the development and conduct clinical trials.
"We are pleased the leading organization in Canada for the commercialization of vaccines, PREVENT, has selected our vaccine technology and will take over the clinical development of our lead vaccine candidates for ALS," said Dr. Robert Gundel, President and CEO of Amorfix. "This validates the value of our ProMIS(TM) discovery platform, which we are using now to develop diagnostics, antibodies and vaccines for cancers and misfolded protein diseases."
"The Amorfix ALS vaccine intellectual property, and its development program, are a great addition to the PREVENT portfolio pipeline," commented Dr. Naveen Anand, CEO of PREVENT. "The program combines the right elements of academic research, industrial involvement, novel technology and medical needs to enable a good fit with our mandate."
Under the agreement, PREVENT will receive the exclusive worldwide license to develop Amorfix's DSE(TM) vaccines for the ALS field of use. Amorfix retains all rights to develop antibodies and diagnostics for ALS. Under the license terms, PREVENT will develop vaccine formulations, finish preclinical studies for regulatory approvals and conduct clinical testing of the vaccines at their cost. Upon successful completion of Phase I clinical trials both parties have an option to lead the commercialization process under a cost-sharing and revenue-sharing arrangement which includes royalty payments.
"It is great to see a partnership between two Canadian organizations to address new treatments for ALS," said Mr. David Cameron, President to the ALS Society of Canada, "A better treatment for ALS is urgently needed."
The licensed intellectual property includes Disease Specific Epitopes (DSE(TM)) and vaccines arising from Amorfix's discovery platform using the ProMIS(TM) algorithm for prediction of DSEs on misfolded proteins. This unique approach enables the discovery of antibodies that recognize and inhibit only the misfolded protein which forms in the disease, while allowing the normal protein to continue to function.
"We have only just begun to use DSEs to rationally design new treatments for many misfolded-protein illnesses" said Dr. Neil Cashman, Chief Scientific Officer of Amorfix.
Amorfix continues to discuss with potential partners alliances for the continued development of the antibodies and diagnostic applications for ALS and new projects for the ProMIS(TM) discovery platform. These alliances will be announced when they are completed.
PREVENT is a Centre of Excellence for Commercialization and Research under the Networks of Centres of Excellence program, which is an initiative of the Natural Sciences and Engineering Research Council of Canada, the Social Sciences and Humanities Research Council of Canada, the Canadian Institutes of Health Research, and Industry Canada. An incorporated not-for-profit organization, PREVENT is accelerating the development of promising early-stage vaccine candidates to address existing or potential human health issues. By partnering with Canadian stakeholders and shouldering the risk of early-stage vaccine development, PREVENT will strengthen Canada's vaccine industry, promoting growth, investment and improved global competitiveness.
Amorfix Life Sciences Ltd. (TSX:AMF) is a theranostics company developing therapeutic products and diagnostic devices targeting misfolded protein diseases including ALS, cancer, and Alzheimer's disease. Amorfix utilizes its computational discovery platform, ProMIS(TM), to predict novel Disease Specific Epitopes ("DSE") on the molecular surface of misfolded proteins. Amorfix's lead therapeutic programs include antibodies and vaccines to DSEs in ALS, Alzheimer's disease and cancer. Amorfix's proprietary Epitope Protection(TM) (EP) technology enables it to specifically identify very low levels of aggregated misfolded proteins (AMP) in a normal sample. The Company's diagnostic programs include an ultrasensitive method for the detection of aggregated Beta-Amyloid in brain tissue and blood of animal models of Alzheimer's disease, months prior to observable amyloid formation, and human blood screening tests for Alzheimer's and early liver cancer detection. For more information about Amorfix, visit www.amorfix.com.
Forward Looking Information
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.
SOURCE Amorfix Life Sciences Ltd.
For further information: For further information: Dr. Robert Gundel, President & Chief Executive Officer, Amorfix Life Sciences Ltd., Tel: (416) 847-6957, Fax: (416) 847-6899, email@example.com; James Parsons, Chief Financial Officer, Amorfix Life Sciences Ltd., Tel: (416) 847-6929, Fax: (416) 847-6899, firstname.lastname@example.org