Algeta exercises option and signs exclusive license agreement with Lumiphore, Inc. for novel technology for development of Targeted Thorium Conjugates (TTCs)
Oslo, Norway, 2 May 2013 - Algeta ASA (OSE: ALGETA), a company focused on the
development of novel targeted cancer therapeutics, announces it has exercised
its option to take an exclusive worldwide license to patented Lumi4(®) bi-
functional chelator technology from Lumiphore, Inc. (Richmond, CA, USA) and has
extended the collaboration to include additional chelator families. These
technologies are currently being developed by Algeta to conjugate thorium-227 to
tumor-targeting molecules to create Targeted Thorium Conjugates (TTCs).
Lumiphore's Lumi4(®) technology is based on a unique class of bi-functional
chelators[1] that forms a novel cage structure surrounding and tightly binding
thorium-227, which can then be covalently attached to a range of tumor-targeting
molecules, such as monoclonal antibodies, to create potential cancer
therapeutics. Algeta originally signed an option/license agreement with
Lumiphore around this technology in 2010 and subsequently extended it to enable
further evaluation to be conducted. This stage of evaluation has now been
completed successfully.
In parallel with this license agreement, Algeta has also been granted a license
by Lumiphore covering a second class of bi-functional chelators that bind
strongly to thorium-227, with the option of including a further selection of
compounds within that license if future exploratory work confirms their promise.
Under the terms of the agreements, Algeta will pay Lumiphore the option exercise
fee for the Lumi4(®) chelators, and a signature and option fee for the second
class of chelators, plus development and sales milestones and a royalty on
product sales. Further financial details have not been disclosed.
Thomas Ramdahl, Algeta's Chief Technology Officer, said: "Algeta is assembling a
broad portfolio of proprietary technologies (including bi-functional chelators,
linkers and tumor-targeting molecules), intellectual property and expertise as a
platform for generating Targeted Thorium Conjugates, or TTCs. The addition of
the Lumiphore technologies to the portfolio through this license and further
option agreements will ensure that we have access to the best bi-functional
chelators for thorium-227 as we seek to create a pipeline of TTCs designed to
address multiple high-value opportunities in targeted cancer therapy."
Algeta's TTC strategy is based on gaining access to carefully selected tumor-
targeting molecules, via in-licensing, collaboration or via third parties, to
which it links thorium-227 thereby creating potential new therapeutics. Algeta's
disclosed TTC programs include collaborations with Sanofi and Ablynx; programs
based on CD22- (hematological cancer) and HER2-targeting (breast/ovarian cancer)
molecules in-licensed from Immunomedics and Affibody, respectively; and a fully
owned TTC program targeting hematological cancers. Algeta is advancing its
preclinical pipeline with the aim of entering its first TTC into clinical trials
in 2014.
About Algeta's TTC Platform
Algeta is evaluating the potential utility of alpha-particle emitting elements
in the treatment of cancer. Previous studies[2] have indicated that such
elements may have value in treating cancers by causing double-strand DNA breaks
that trigger cell death, and have also shown that the effects of alpha-emission
are highly localized as a result of the very short range of the alpha particle
(2-10 cell diameters), potentially minimizing off-target effects. Thorium-227 is
one alpha-particle emitting element (radionuclide) that has been selected by
Algeta for further investigation. By linking thorium-227 to cancer-targeting
molecules such as monoclonal antibodies, Algeta believes it may be possible to
develop a pipeline of targeted alpha-pharmaceuticals, termed Targeted Thorium
Conjugates, or TTCs. Algeta intends to evaluate TTCs in a broad range of cancer
types to determine whether the TTC platform could offer advantages over naked
(un-armed) antibodies or antibody-drug conjugate technologies that use cytotoxic
drugs (rather than alpha-emitting elements) as payloads. Such advantages may
include increased potency, a more localized tumoricidal effect and the potential
to address drug resistance by virtue of the physical action of the alpha
particles.
For more information about Algeta's technology, please visit www.algeta.com.
For further information about Algeta, please contact:
Mike Booth / Renate Birkeli +47 23 00 67 32
Communications & Corporate Affairs ir@algeta.com
Media enquiries:
Mark Swallow +44 207 638 9571
Citigate Dewe Rogerson mark.swallow@citigatedr.co.uk
Knut Ekern +47 22 04 82 00
Gambit Hill & Knowlton knut.ekern@hkstrategies.com
Kari Watson +1 781 235 3060
MacDougall Biomedical Communications kwatson@macbiocom.com
Investor enquiries:
Tricia Swanson +1 646 378 2953
The Trout Group tswanson@troutgroup.com
For further information on Lumiphore, Inc., please contact:
Kenneth N. Raymond, Ph.D.
President and Chairman
Lumiphore, Inc.
Tel./FAX: +510-232-8455
kraymond@lumiphore.com
About Algeta
Algeta is a company focused on developing novel targeted therapies for patients
with cancer based on its alpha-pharmaceutical platform. The Company is
headquartered in Oslo, Norway, and has a US subsidiary, Algeta US, LLC, based in
Cambridge, MA performing commercial marketing operations in the US. Algeta is
listed on the Oslo Stock Exchange (Ticker: ALGETA). For more information please
visit www.algeta.com.
About Lumiphore
Based in Richmond, California, Lumiphore Inc, a privately held company, is a
biotechnology leader in the development of proprietary luminescent-metal
lanthanide and bi-functional chelation technology for use in high-value imaging
and therapeutic applications which are commercialized through market-specific
alliances with corporate partners. Â Lumiphore has exclusive licenses to the
science developed at the University of California, Berkeley in the laboratory of
Professor Kenneth N. Raymond, a world expert on lanthanide and actinide
chemistry. Â For more information about Lumiphore, please visit
www.lumiphore.com.  Lumi4(®) is a registered mark of Lumiphore, Inc.
 Forward-looking Statements
This news release contains certain forward-looking statements that are based on
uncertainty, as they relate to events and depend on circumstances that will
occur in the future and which, by their nature, may have an impact on results of
operations and the financial condition of Algeta. Such forward-looking
statements reflect our current views and are based on the information currently
available to Algeta. Algeta cannot give any assurance as to whether such forward
looking statements will prove to be correct. These forward looking statements
include statements regarding future development activities generally and our TTC
program in particular. Â There are a number of factors that could cause actual
results and developments to differ materially from those expressed or implied by
these forward-looking statements. These factors include, among other things,
risks or uncertainties associated with the success of future clinical trials,
collaborations with other companies in the development of targeting molecules,
general economic and business conditions and difficulties of obtaining relevant
governmental approvals for new products, and the other risks and uncertainties
described in our annual report.
[1]Â Known as aromatic macrocyclic bi-functional chelators (AMBFs): one end binds
the radionuclide (thorium-227) and the other end links to the tumor-targeting
molecule.
[2]Â Hall (1994) Radiobiology for the Radiologist (Lippincott, Philadelphia)
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Press release:
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Source: Algeta ASA via Thomson Reuters ONE
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