Not intended for US media
Oslo, Norway, 30 April 2012 - Algeta ASA (OSE: ALGETA), a company focused on the development of novel targeted cancer therapeutics, announces that its research collaboration with Sanofi (previously Genzyme) has been extended. This collaboration, which was announced in April 2011, is focused on evaluating the potential of linking the alpha-emitter thorium-227 to a novel and proprietary antibody from Genzyme to create a tumor-targeting alpha-pharmaceutical (also known as a Targeted Thorium Conjugate, or TTC).
Over the past 12 months, Algeta and Genzyme have jointly pursued a defined research program and both have contributed resources and expertise to the collaboration. The program and the encouraging results produced to date have been reviewed by Algeta and Sanofi (following its 2011 acquisition of Genzyme) and both parties have now decided that the collaboration should continue on the same basis for a further year.
Thomas Ramdahl, Executive Vice President and Chief Technology Officer at Algeta, said: "We have made significant progress in this collaboration with Genzyme and are delighted that it is to continue with the added antibody experience provided by the broader Sanofi team."
About the TTC Platform
Thorium-227 is an element (radionuclide) that emits high-energy alpha particles. Such elements are of considerable interest in the treatment of cancer as they are potent at killing tumor cells and have a highly localized effect as a result of the very short range of the alpha particle (2-10 cell diameters). Thorium-227 is not inherently tumor-targeting, but by linking it to tumor-targeting molecules such as antibodies, Algeta believes it can develop a new class of highly targeted alpha-pharmaceuticals (Targeted Thorium Conjugates, or TTCs). TTCs have the potential to address a broad range of cancers and could offer unique advantages over current antibody-drug conjugates that use cytotoxic drugs as payloads. Such advantages may include increased potency, highly-localized tumoricidal effect and the ability to overcome drug resistance of the cancer cells by virtue of the direct tumor-killing action of the alpha particles.
For more information about Algeta's technology, please visit www.algeta.com (http://www.algeta.com/)
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For further information, please contact
| Mike Booth Communications & Corporate Affairs | +47 2202 4510 ir@algeta.com (mailto:ir@algeta.com) |
| International media enquiries: Mark Swallow Citigate Dewe Rogerson | +44 207 638 9571 mark.swallow@citigatedr.co.uk (mailto:mark.swallow@citigatedr.co.uk) |
| US investor enquiries: Jessica Lloyd The Trout Group | +1 646 378 2928 jlloyd@troutgroup.com (mailto:jlloyd@troutgroup.com) |
About Algeta
Algeta is a company focused on developing novel targeted therapies for patients with cancer based on its alpha-pharmaceutical platform.
Algeta's lead product Alpharadin (radium-223 chloride) is being evaluated as a potential new treatment for cancer patients with bone metastases. Alpharadin is in pre-registration for castration-resistant prostate cancer (CRPC) patients with bone metastases, and filings seeking regulatory approval are expected mid 2012 in both the United States and Europe; Alpharadin has Fast Track designation for this indication in the USA. Alpharadin is not approved by the US Food & Drug Administration (FDA), the European Medicines Agency (EMA) or any other health authority.
Alpharadin is also under clinical investigation in endocrine-refractory breast cancer patients with bone metastases and is in a phase I/IIa trial in combination with docetaxel chemotherapy in CPRC patients with bone metastases.
Alpharadin is being evaluated and will be commercialized, if approved, under a global agreement with Bayer Pharma AG. If approved, Bayer will market Alpharadin worldwide, and Algeta will co-promote Alpharadin with Bayer in the US.
Algeta is also evaluating the potential of Targeted Thorium Conjugates (TTCs), which are based on conjugating the alpha-emitter thorium-227 to targeting molecules, as a basis of a potential future pipeline of tumor-targeting alpha-pharmaceutical candidates
The Company is headquartered in Oslo, Norway, and is listed on the Oslo Stock Exchange (Ticker: ALGETA).
Alpharadin and Algeta are trademarks of Algeta ASA.
Forward-looking Statements
This news release contains certain forward-looking statements based on uncertainty, since they relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on results of operations and the financial condition of Algeta. Such forward-looking statements reflect our current views and are based on the information currently available to Algeta. Algeta cannot give any assurance to the correctness of such statements. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, among other things, risks or uncertainties associated with collaborations with Sanofi and other companies in the development of targeting molecules and alpha particle payloads, the risk that research & development will not yield TTCs or other new products that are commercially viable, the ability to successfully commercialize any TTCs developed internally or through our collaborations with other companies, the impact of competition, the ability to successfully commercialize Alpharadin, the risk that costs associated with the co-promotion of Alpharadin may be greater than anticipated, the risk of non-approval of patents not yet granted, unforeseen delays in the timing of expected regulatory filings, risks in obtaining regulatory approvals for Alpharadin and difficulties of obtaining relevant governmental approvals for TTCs and other new products in the future, and the other risks and uncertainties described in our annual report.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Algeta ASA via Thomson Reuters ONE
