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Stockholm, SE | Jan 23, 2006 | Biovitrum AB, Sweden, and Syntonix Pharmaceuticals, Inc., USA, have entered into a co-development and commercialization agreement for Syntonix’ long-acting, recombinant Factor IX product for Hemophilia B (“FIX:Fc”). Under the terms of the agreement, Syntonix receives an initial collaboration fee and Biovitrum makes an equity investment in Syntonix.
Biovitrum and Syntonix will jointly develop and commercialize FIX:Fc. Syntonix is responsible for marketing in North America and Biovitrum is responsible for marketing in Europe, Russia and the Middle East. The companies will equally share the costs and profits for development and commercialization of FIX:Fc. Under the terms of the agreement, Syntonix will receive milestone payments and an additional equity investment from Biovitrum based on the progress of the program. In the future, Biovitrum and Syntonix may decide to expand the collaboration to include additional long-acting protein products. Additional financial terms will not be disclosed.
There is an increasing trend toward use of Factor IX for prophylaxis treatment of Hemophilia B, which requires several infusions per week with the currently available drugs. The extended half-life of Syntonix´ FIX:Fc product could enable effective treatment for both prophylaxis and on-demand therapy with less frequent intravenous injections and thereby provide a new, improved therapy for these patients. The total market potential for Factor IX products is estimated to be in excess of USD $600 million worldwide, per year.
“We are pleased to develop FIX:Fc with Syntonix because Syntonix’ SynFusionTM technology has resulted in a very promising, long-acting recombinant Factor IX product that has the potential to reduce the frequency of infusions required for Hemophilia B patients to manage their disease. The signed agreement further consolidates our strength in the hemophilia therapeutic area where we have significant experience and interests,” commented Mats Pettersson, CEO of Biovitrum.
“Biovitrum is making an equity investment in our company, underscoring the importance of this strategic alliance for both Biovitrum and Syntonix,” commented John Ripple, CEO of Syntonix. “We are especially pleased to be working with Biovitrum, one of the largest biotechnology companies in Europe with experience in both the development and manufacturing of biopharmaceutical products.”
About Hemophilia
Hemophilia is a rare hereditary disorder in which the ability of patients’ blood to clot is impaired. As a result, the patient suffers from excessive bleeding and uncontrolled internal bleeding, leading to pain and eventual permanent damage to joints and muscles. One form, Hemophilia B results from mutations that impair the production of Factor IX. It has been reported that even with “proper treatment” the life expectancy of hemophilia patients is about 10 years less than for individuals without hemophilia. Increasingly, the normal mode of treatment for younger patients is a prophylaxis regimen where patients are infused two or three times per week to maintain a better circulating level of coagulation factor. Long term studies in Sweden and elsewhere demonstrate that such regimens greatly reduce if not eliminate progressive joint deterioration.
About Biovitrum
Biovitrum is one of the largest biotechnology companies in Europe. With operations in Sweden and in the UK Biovitrum conducts research and develops pharmaceuticals for both widespread diseases and conditions that affect smaller patient populations. Biovitrum focuses on drugs for the treatment of obesity, diabetes and inflammation as well as for niche indications within these therapeutic areas. Biovitrum also develops and produces protein-based drugs on a contractual basis and markets a range of specialist pharmaceuticals primarily in the Nordic countries. Biovitrum has approximately 500 employees.
For more information see www.biovitrum.com/.
About Syntonix
Syntonix is developing next generation biopharmaceuticals that enable better treatment options for patients with devastating chronic diseases such as hemophilia, anemia, multiple sclerosis, and autoimmune disorders. The company applies its core technologies to develop long-acting biopharmaceuticals that may be inhaled or injected less frequently, and to discover novel drugs to treat antibody-mediated autoimmune and inflammatory disorders. The resulting proteins, peptides and antibodies are being commercialized through internal development programs and collaborations with biotechnology and pharmaceutical partners.
Syntonix’ lead product is a long-acting Factor IX product for the treatment of Hemophilia B, which is being developed in a strategic alliance with Biovitrum AB of Sweden. Upon approval, Syntonix will market the product in North America. More information is available at www.syntnx.com.
Source: Biovitrum AB |
