February 13th, 2019

Allgenesis Biotherapeutics Inc., a Taiwan based specialty pharmaceutical company focused on developing novel ophthalmologic drugs, announced today that IP Australia has issued a Notice of Acceptance for a new Patent covering Allgenesis’ second biologic product, AG-73305, a first-in-class drug that fuses VEGF Trap and disintegrin variant as one molecule having multiple targets.

“This protein has proven to be safe and efficacious in our early animal studies and having this patent granted in Australia would mark our major technology breakthrough in our biologics,” said Dr. Madhu Cherukury, Chief Executive Officer of Allgenesis Biotherapeutics Inc. “Since VEGF Trap is clinically validated to treat angiogenic disease and disintegrin variant has been found to work as an integrin antagonist to inhibit angiogenesis, a fusion of both molecules can target treatment of various angiogenic diseases, particularly those in ophthalmology. Together with our previously granted patent in Australia for first biologic product AG-67650, our protein programs are now more complete with patents covered in various geographical regions.”

The newly issued patent provides coverage of the fusion protein and its use to treat angiogenic diseases, such as AMD and DME 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-73305

AG-73305 is the first-in-class molecule specifically designed for the treatment of DME, wAMD, and other retinal diseases. AG-73305 is a single fusion protein that simultaneously binds to VEGFs and integrins with high potency and specificity. During the discovery stage, AG-73305 demonstrated promising efficacy in protecting blood-retina-barrier in rabbit POC model and in laser-induced CNV monkey model. AG-73305 has a desirable ocular pharmacokinetics optimal for less frequent dosing regimen and well tolerated in monkeys after intravitreal injection.