October 25th, 2018

Allgenesis Biotherapeutics Inc., a Taiwan based specialty pharmaceutical company focused on developing novel ophthalmologic drugs, announced today that IP Australia has granted a new Patent covering Allgenesis’ first biologic product, AG-67650, a first-in-class drug that targets VEGF and PDGF.

“The fusion protein technology is a pioneering work at Allgenesis and having this patent granted in Australia would give us a head start in the protein development project,” said Dr. Madhu Cherukury, Chief Executive Officer of Allgenesis Biotherapeutics Inc. “VEGF Trap is clinically validated to treat angiogenic disease, but some patients were found to be non-responsive for anti-VEGF treatments. PDGF has been found to induce recruitment of pericytes which play a role in anti-VEGF resistance, vessel stabilization and scarring. Therefore, a fusion molecule targeting both VEGF and PDGF offers a better ophthalmology treatment choice than those anti-VEGF treatments already on the market.”

AP Bio has licensed the global exclusive rights to use, sell and manufacture the fusion protein to Allgenesis. Under the license agreement, both Allgenesis and AP Bio own the intellectual property related to the fusion protein. The newly issued patent provides coverage of the fusion protein and its use to treat angiogenic diseases, such as AMD in Australia up to 2036.

About Allgenesis

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.

About AG-67650

AG-67650 is the first-in-class, single molecule specifically designed for treating wAMD. AG-67650 simultaneously binds to VEGFs and PDGFs with high potency and specificity. AG-67650 demonstrated promising efficacy in protecting blood-retina-barrier in rabbit POC model and in laser-induced CNV monkey model. AG-67650 has a desirable ocular pharmacokinetics suitable for less frequent dosing regimen.