March 7th, 2015
Allgenesis Biotherapeutics Inc., a Taiwan based specialty pharmaceutical company focused on developing novel ophthalmologic drugs, announced today that it has entered a license agreement with National Cheng Kung University (NCKU).
Under the terms of the agreement, NCKU will grant Allgenesis a worldwide, exclusive license for a platform technology that involves multi-specific disintegrin variants generated by Professor Woei-Jer Chuang and his team at NCKU, and covered in US Provisional Patent Application No. 62/040503 to target integrin associated diseases such as angiogenesis related eye diseases and cancers.
Under the terms of the agreement, Allgenesis will pay NCKU upfront and milestone payments for the commercial development of the drug product that involves the disintegrin variants. NCKU may also be eligible to receive potential milestone payments for other indications Allgenesis would develop as well as additional royalty on any future product sales.
“We are excited about our future protein drug development that involves this disintegrin platform technology,” said Dr. Madhu Cherukury, Chief Scientific Officer of Allgenesis Biotherapeutics Inc. “In addition, we will provide continuous research support to Professor Chuang and his team at NCKU to help further optimization or derivation of the molecule.”
Allgenesis is a clinical stage biopharmaceutical company based in Taipei, Taiwan. The company is focused on research and development of novel medicines for the treatment of eye diseases. Current projects in the pipeline include AG-73305, a potential blockbuster drug for the treatment of DME, wAMD, and other retinal diseases. AG-73305 is in the CMC stage of the development with IND filing before 1Q2021. AG-86893, a drug for the treatment of Pterygium or better-known as surfer’s eye, is in Phase 2a clinical trial in Australia with FPE in 4Q2018.