TORONTO, Dec. 6, 2012 /CNW/ - Amorfix Life Sciences Ltd. announced today that it has established a collaboration with CNJ Holdings Inc., a wholly-owned subsidiary of Cangene Corporation, for the identification and development of therapeutic antibodies against proprietary disease specific epitopes (DSEs) identified using Amorfix's ProMIS™ discovery technology for the treatment of various oncology indications.
"This collaboration represents the ideal situation where two companies come together with complementary expertise, resources and technology in a united effort to identify and develop novel antibody therapeutics for the treatment of cancer", said Dr. Robert Gundel, Amorfix President and CEO. "Establishing partnerships and strategic alliances to accelerate the discovery, development and commercialization of therapeutic antibodies is part of our overall strategy to build our product pipeline."
Amorfix's current therapeutic portfolio includes antibodies directed against a number of misfolded protein targets for the treatment of a variety of cancers including ovarian cancer, melanoma and leukemia. This new collaboration with Cangene allows Amorfix continue to build and expand its innovative product pipeline of cancer therapeutics.
"We are excited about this collaboration with Amorfix which brings new energy to our R&D pipeline development efforts" said John Sedor, Cangene's President and CEO. "This is an opportunity to leverage our core competencies to accelerate the development of therapeutic antibodies to novel targets in the oncology space" he added.
The terms of the collaboration were not disclosed.
Amorfix Life Sciences Ltd. (TSX:AMF) is an early-stage product development company developing therapeutic antibodies and diagnostics targeting misfolded protein diseases. Amorfix utilizes its computational discovery platform, ProMIS™, to predict novel Disease Specific Epitopes (DSEs) on the molecular surface of misfolded proteins. Using this technology, Amorfix is developing novel antibody therapeutics and companion diagnostics for cancer and amyotrophic lateral sclerosis (ALS). In addition, Amorfix has developed two proprietary technologies to specifically identify very low levels of misfolded proteins in a biological sample: Epitope Protection™ and AMFIA™, an ultra-sensitive dual-bead immunoassay. Use of these technologies has generated a cerebrospinal fluid (CSF) screening test for Alzheimer's disease (AD), and an ultrasensitive method for detecting the hallmark of AD, aggregated beta-Amyloid, in brain tissue, CSF and blood from animal models of AD. For more information about Amorfix, visit www.amorfix.com.
About Cangene Corporation
Cangene Corporation (TSX: CNJ), headquartered in Winnipeg, Canada, is one of the nation's oldest and largest biopharmaceutical companies. It is focused on the development and commercialization of specialty therapeutics. Cangene's products are sold worldwide and include products that have been accepted into the U.S. Strategic National Stockpile. Cangene has offices in three locations across North America. It operates manufacturing facilities in Winnipeg, Manitoba and Baltimore, Maryland (through its wholly owned subsidiary, Cangene bioPharma, Inc.) where it produces its own products and undertakes contract manufacturing for a number of customers. Cangene also operates a plasma-collection facility in Winnipeg, Manitoba under the name Cangene Plasma Resources. Its U.S. sales and marketing office is located in Philadelphia, Pennsylvania. For more information about Cangene, visit the Company's website at www.cangene.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, unless required by law.
ProMIS™, Epitope Protection™ and AMFIA™ are trademarks of Amorfix Life Sciences Ltd.
SOURCE: Amorfix Life Sciences Ltd.
For further information:
Dr. Robert Gundel
President and Chief Executive Officer
Amorfix Life Sciences Ltd.
Tel: (416) 847-6957
Fax: (416) 847-6899
Acting Chief Financial Officer
Amorfix Life Sciences Ltd.
Tel: (416) 847-6926
Fax: (416) 847-6899