DIJON, France--(BUSINESS WIRE)--Regulatory News:
ONCODESIGN (Paris:ALONC) (FR0011766229 – ALONC) announced today that the research collaboration with Ipsen (Euronext: IPN; ADR: IPSEY) and option to license rights for the LRRK2 based Parkinson program will be returned to Oncodesign.
Following this reacquisition, Oncodesign now intends to pursue further development of the program internally, using the expert resources at its recently acquired research center in Paris Saclay.
Oncodesign discovered a class of compounds inhibiting LRRK2 (Leucine-Rich Repeat Kinase 2) as potential new therapeutic agents against familial cases of Parkinson’s disease.
These compounds, derived from Oncodesign’s Nanocyclix® technology, are potent and selective orally active molecules that reach high levels in the brain and that have been shown to inhibit the phosphorylation of LRRK2 in the brain in animal models without side effects at efficacious doses.
LRRK2 kinase is considered as one of the highest potential molecular targets against this neurodegenerative disorder.
“For Oncodesign, regaining full proprietary rights over our LRRK2 program represents a value accretive opportunity. This now gives us the ability to determine the future development of this program in Parkinson‘s disease,” said Philippe Genne, Chairman & CEO of Oncodesign. “We intend to pursue the program internally to its next critical milestones. Through the acquisition of the CFH research center we have internalized all the required expertise and models to advance the program prior to looking for a new partner. We know that Ipsen shares our appreciation of our LRKK2 collaboration. In the meantime, we continue working closely with Ipsen in the oncology field .”
Oncodesign remains a strategic partner for Ipsen in pre-clinical pharmacology for its oncology research programs, notably for experimental models and new pharmacological approaches based on Oncodesign’s pharmaco-imaging and the detection of biomarkers. As previously announced in 2016, Oncodesign will continue to receive a minimum guaranteed annual fee to cover the cost of its research efforts at Les Ulis and of its Dijon platform to which variable payments, linked to business volumes generated by Ipsen’s programs, may be added.
About d’ONCODESIGN : www.oncodesign.com
Founded over 20 years ago by Dr Philippe Genne, the Company’s CEO and Chairman, Oncodesign is a biotechnology company that maximises the pharmaceutical industry’s chances of success in discovering new therapeutic molecules to fight cancer and other serious illnesses with no known effective treatment. With its unique experience acquired by working with more than 600 clients, including the world’s largest pharmaceutical companies, along with its comprehensive technological platform combining state-of-the-art medicinal chemistry, advanced animal modelling and medical imaging, Oncodesign is able to predict and identify, at a very early stage, each molecule's therapeutic usefulness and potential to become an effective drug. Applied to kinase inhibitors, which represent a market estimated at over $46 billion in 2016 and accounting for almost 25% of the pharmaceutical industry’s R&D expenditure, Oncodesign’s technology has already enabled the targeting of several promising molecules with substantial therapeutic potential, in oncology and elsewhere, along with partnerships with pharmaceutical groups such as Bristol-Myers Squibb and UCB. Oncodesign is based in Dijon, France, in the heart of the town’s university and hospital hub, and within the Paris-Saclay cluster, Oncodesign has 165 employees and subsidiaries in Canada and the USA.