TORONTO, June 7, 2012 /CNW/ - Amorfix Life Sciences Ltd. announced today that the Company has signed an agreement granting an exclusive worldwide license for its preclinical Alzheimer's disease diagnostic test, the Amorfix Aggregated Abeta Assay (the A4) to JSW Lifesciences GmbH, a contract research organization specializing in Alzheimer's disease and other neurodegenerative disorders. Under the terms of the agreement, JSW will market and perform the A4 assay as a service in the area of preclinical Alzheimer's disease studies. The agreement includes a commitment to minimum annual sales and Amorfix will receive a percentage of net sales. The Agreement was signed after the completion of due diligence on the technology by JSW, conducted pursuant to the Letter of Intent previously executed by the parties.
The A4 is an ultra-sensitive assay that measures the levels of aggregated Abeta (beta amyloid) in brain, spinal fluid (CSF) and plasma from preclinical animal models used for Alzheimer's disease research and drug development. The A4 enables the detection and quantitative measurement of aggregated Abeta, the building block of brain plaques and a hallmark of Alzheimer's disease, up to a year earlier than conventional methods. As such, the A4 is a valuable tool to detect early Alzheimer's changes in animal models, facilitating the development of therapeutics that can be used at earlier stages of the disease. The ability to detect and measure this direct biomarker of Alzheimer's disease at such an early stage will also shorten discovery timelines and decrease costs at the preclinical phase of development.
"We are very pleased to be working with JSW to expand the market for the A4 assay" said Dr. Robert Gundel, Amorfix President and CEO. "We believe there is significant value to researchers developing AD therapeutics to use the A4 assay and that JSW is the right partner to fully exploit this opportunity. Revenue received from the A4 assay will be used by the Company to continue to develop its innovative product pipeline of diagnostics and therapeutics."
Dr. Manfred Windisch, CEO and President at JSW-Lifesciences, stated, "We were convinced about the usefulness of the A4 assay after our due diligence process, resulting in a set of data in compliance with other characterisation results from our well defined AD models. This assay will also allow a more precise assessment of treatment effects on early amyloid aggregates, enabling one to address efficiently the initial steps of synaptic and neuronal damage."
About Alzheimer's Disease
More than 35 million people worldwide have Alzheimer's disease or other types of dementia. Alzheimer's disease is the most common type of dementia and accounts for an estimated 60-80 percent of cases. As the population around the world ages, the incidence of Alzheimer's disease (AD) is predicted to increase significantly. Barring a significant medical breakthrough, predictions are that cases of dementia will nearly double every 20 years, and by 2040 the number of cases around the world will quadruple to approximately 81 million people. The development of effective therapies that address the causal factors in the disease process is needed. The predominant theory is that a build up of plaques in the brain caused by the clumping and accumulation of Abeta leads to neuronal cell death and the onset of Alzheimer's disease symptoms. Use of the Amorfix A4 will enable researchers to evaluate the effectiveness of new therapeutics in animal models of Alzheimer's disease more rapidly and accurately, setting the stage for the clinical development of new products that address the root cause of the disease.
LSW 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 results 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 disease are available. For more information about JSW, visit www.jsw-lifesciences.com
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.
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.
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