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NEOVACS ANNOUNCES LICENSE AGREEMENT FOR IFNalpha KINOID FOR TREATMENT OF LUPUS IN TURKEY
"This license agreement follows our similar agreements with CKD Pharma in South Korea and BioSense Global in China," said Miguel Sieler, CEO of Neovacs. "These 3 agreements are indicative of the significant market interest in our IFNalpha Kinoid technology and support Neovacs' position in our discussions with major pharmaceutical groups for a global licence deal. Centurion Pharma has extensive experience in the vaccine & specialty therapeutic care markets, and we are pleased to leverage their expertise in this area, as well as their strong track record in order to introduce this innovative treatment for Lupus in Turkey. Our license agreement with Centurion is representative of our strategy to identify high-quality local partners to support our objective of accelerating the development and commercialization of our most advanced vaccine, IFNalpha Kinoid. In addition, the agreement provides Neovacs with the opportunity to monetize our lead asset through an upfront payment and potential milestone payments, as well as a royalty stream."
Centurion will enter into negotiation with local health authorities in Turkey in order to obtain an agreement to commercialize IFNalpha Kinoid in lupus on a "Named Patients" program basis, following the success of Neovacs' Phase IIb clinical trial in lupus.
Under the terms of this agreement, Neovacs will receive a total of €6 million, including an upfront payment at signature and additional potential payments based on the achievement of predefined clinical and regulatory milestones. In addition, Neovacs will also receive double digit royalties on net sales of IFNalpha Kinoid in Turkey. Neovacs and Centurion also intend to finalize a product supply agreement for IFNalpha Kinoid shortly.
About Centurion Pharma
Since 1979, Centurion has been serving the Turkish market with therapeutic care products for the treatment of specific and rare diseases encountered in Turkey as well as biological, biotechnological and hospital products through collaborations with leading pharmaceutics of the world. Centurion head office is located in Istanbul and the Company will expand its production activities in Ankara for biosimilars, vaccines, orphan drugs and hospital generics at the end of 2017. The R&D activities are located at the Centurion production area with a main focus on specific therapeutic areas. The company will expand the business for neighborhood countries like Middle East, CIS, Africa and Balkan countries after the start of local production.
http://www.centurion.com.tr/
About Neovacs
Listed on Euronext Growth Paris since 2010, Neovacs is today a leading biotechnology company focused on an active immunotherapy technology platform (Kinoids) with applications in autoimmune and/or inflammatory diseases. On the basis of the company's proprietary technology for inducing a polyclonal immune response (covered by five patent families that potentially run until 2032) Neovacs is focusing its clinical development efforts on IFNalpha Kinoid, an immunotherapy being developed for the indication of lupus and dermatomyositis. Neovacs is also conducting preclinical development works on other therapeutic vaccines in the fields of auto-immune diseases, oncology, allergies and Type 1 diabetes. The goal of the Kinoid approach is to enable patients to have access to safe treatments with efficacy that is sustained in these life-long diseases.
ActeaVentures acted as a business development consultant for Neovacs
About ActeaVentures GmbH
ActeaVentures is a global business development advisory firm for the Life Sciences Industry serving clients in pharma, biotech, diagnostics and medtech,with offices in Europe (Germany, Spain, France), USA (San Francisco, Boston) and Asia (Singapore, China, Japan). http://www.acteaventures.com
Contacts
NEOVACS - Corporate Communication & Investor Relations
Charlène Masson
+33 (0)1 53 10 93 14
cmasson@neovacs.com
NEWCAP- Press relations
Annie-Florence Loyer
+33 1 44 71 00 12 / + 33 6 88 20 35 59
afloyer@newcap.fr
Léa Jacquin
+33 1 44 71 20 41 / +33 6 58 14 84 66
ljacquin@newcap.fr
LIFESCI ADVISORS- Investor Relations / Financial Communications
Chris Maggos
+41 79 367 6254
chris@lifesciadvisors.com
