SPAIN – 23 May, 2017 – SOM Biotech Ltd (SOM) a leading clinical-stage biopharmaceutical company specialized in drug repurposing to treat rare diseases with a focus on CNS diseases, today announces an exclusive worldwide license agreement with U.S. based Corino Therapeutics, Inc. (Corino), for the clinical development and commercialization of SOM0226 (CRX-1008), a drug for the treatment of Transthyretin Amyloidosis (ATTR).
- License provides SOM with an undisclosed upfront payment, milestones and royalties on product net sales in exchange for the exclusive global rights to the program.
- Agreement leverages the strength of Corino development expertise with the breadth of intellectual property and data SOM has already established around SOM0226.
- License includes the use of the drug for all types of ATTR; Familial Amyloid Polyneuropathy, Familial Amyloid Cardiomyopathy, Senile Systemic Amyloidosis, Ophthalmic and CNS forms.
- License was executed after very promising results in a Phase 2a study.
TTR Amyloidosis is a genetic rare degenerative disease that mainly affects the nervous system and heart muscle tissue (myocardium). It originates when the liver and other areas of the organism produce mutations of the protein transthyretin (TTR), which loses their functional structure. This causes toxic aggregates of amyloid fibres to build up, which, depending on the mutation involved, are deposited in different organs, such as brain, kidneys, peripheral nerves, eyes or myocardium, causing them to malfunction and bringing on the various forms of the disease; Familial Amyloid Polyneuropathy (FAP), Familial Amyloid Cardiomyopathy (FAC), Senile Systemic Amyloidosis (SSA), Ophthalmic and CNS forms.
The repurposed therapeutic agent discovered by SOM through its proprietary virtual screening platform has been validated clinically with a Phase 2a study carried out in Barcelona’s Vall d’Hebron hospital. The drug has been granted orphan drug designation by the FDA for all types of ATTR.
“This license agreement provides a clear validation of the potential of SOM Biotech’s business model. Our repurposing approach can let people suffering from rare diseases, with no available treatment, have the potential for an expedited development of an alternative treatment since these drugs have been used widely in their original indications,” said Dr. Raúl Insa, CEO of SOM. He added that “SOM has found a great management team in Corino that brings substantial strength and expertise to the continued development of the program. This collaboration will allow us to expand our pipeline of treatments within the near future into Phase 2 on two new candidates that we have for other CNS rare conditions.”
“Corino Therapeutics is excited to be working with SOM and their lead program, SOM0226. The preclinical and early clinical results demonstrate the potential to make a significant difference in treating patients with all forms of ATTR,” declared the management of Corino. “We look forward to advancing the development of this promising therapeutic.”
For SOM Biotech Inc
Raúl Insa (Chief Executive Officer)
For Corino Therapeutics, Inc.
About SOM Biotech
SOM Biotech Ltd. (www.sombiotech.com) is a biopharmaceutical company founded in 2009 and based in Barcelona, Spain and Boston, US. The company’s business strategy is to identify, clinically develop and commercialize drugs to treat rare diseases, based on previously marketed drugs (repositioning) and with special emphasis on the neurological field. The company also collaborates with leading pharmaceutical companies to support them in repurposing portfolios and co-developments around the world, and has an extensive pipeline of products under development ranging from rare diseases (TTR Amyloidosis, Huntington’s disease, Glioblastoma and adrenoleukodystrophy) to other therapeutic areas.
About Corino Therapeutics
Corino is a development-stage biopharmaceutical company focused on acquiring, developing and commercializing innovative products for the treatment of a variety of human disease, particularly orphan indications. Corino develops technologies that address important unmet medical needs, offer improved, cost-effective alternatives to current methods of treatment, including repurposed and reformulated approved drugs. Pre-clinical and early clinical data suggests that Corino’s lead product candidate, CRX-1008, may provide a s safe and effective treatment of all forms of Transthyretin Amyloidosis (ATTR). Having been approved for almost 20 years, CRX-1008 has extensive safety and toxicity data and clinical efficacy has been demonstrated in the new indication of ATTR.
For more information, visit www.corinorx.com
Company Name: SOM Biotech
Contact Person: Santiago Esteva
Phone: 0034 934020150