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Under the terms of the agreement, Direvo will be applying its proprietary protein-engineering capabilities to create specifically engineered proteases
COLOGNE, Germany | January 23, 2008 | DIREVO Biotech AG today announced the signing of a research and license agreement with MedImmune, the global biologics unit of AstraZeneca plc, to develop a therapeutic protease for the treatment of CNS diseases.
Under the terms of the agreement, Direvo will be applying its proprietary protein-engineering capabilities to create specifically engineered proteases. MedImmune will then be responsible for the development and marketing of the protease product that may arise under the agreement. Direvo will receive undisclosed upfront and milestone payments, as well as research funding plus royalties on potential sales of the therapeutic protease should it reach the market.
"We are very happy to partner this internally initiated research project. MedImmune is the perfect partner to ensure that this exciting novel class of therapeutics gets the expertise required for its successful development," said Dr. Thomas von Rüden, CEO of Direvo. "This collaboration is a further technical and commercial validation for Direvo's proven world-class technology-platform for the generation of optimized proteases as novel biopharmaceuticals. Beyond this, it demonstrates our ability to source internal projects that are of great interest to the pharmaceutical industry" he added.
Proteases are a class of powerful therapeutic agents already used in the treatment of a variety of conditions. They are naturally occurring enzymes responsible in the human body for proteolysis, the process by which proteins are cleaved and inactivated. Therapeutically, they can be engineered to selectively inactivate pathogenic agents such as tumor cells, viruses or bacteria.
Direvo Biotech AG
DIREVO Biotech AG generates superior bioengineered products and processes for industrial and pharmaceutical markets by enhancing nature's potential. The Company's portfolio includes optimized proteins, optimized bioprocesses and other bio-molecules, in research, in commercial development and on the market. Direvo develops products both independently and with global leaders such as Danisco/Genencor, Nestlé, AstraZeneca/MedImmune and Pfizer. Direvo Biotech is committed to a tailored approach to addressing customer needs and market opportunities.
Direvo's biopharmaceutical business focuses on therapeutic antibodies and proteases. Applying its powerful and proven protein engineering capabilities, Direvo generates improved second generation therapeutics and discovers and optimizes novel first-generation therapeutics. Direvo offers early stage partnering from internal discovery programs as well as collaborations on the optimization of a wide range of therapeutic proteins..
DIREVO Biotech AG is privately held and located in Cologne, Germany
SOURCE: DIREVO BIOTECH AG |
