VANDŒUVRE-LÈS-NANCY, France--(BUSINESS WIRE)--Regulatory News:
TEM1657 is a drug candidate that was discovered and optimized thanks to
PAT’s (Paris:ALPAT) know-how and that was patented in 2016. Results at
preclinical stage in the treatment of psoriasis show similar efficacy as
the market reference corticosteroids, without side effects.
The input of this asset in TEMISIS – a wholly-hold subsidiary – will allow to finance further clinical development, without any risk and dilution of existing PAT shareholders while enjoying capital gains if successful.
Ultimately TEMISIS will grant exploitation licences to large pharmaceutical groups, while positioning PAT as the producer of this active compound once launched on the market.
Jean-Paul Fèvre comments: « The richness of our assets portfolio invites us to shape our approach for securing their development and creating value for PAT. The creation of TEMISIS is the enforcement of this new model and enables to positively present our first pharmaceutical asset towards interested companies. »
This new subsidiary should reinforce PAT’s positioning on the pharmaceutical market and give rise to a significant leverage effect in the near future.
All about PAT at www.plantadvanced.com
About Plant Advanced Technologies PAT:
PAT is a plant biotechnology company producing rare, new actives of plant origin designed for pharmaceutical, cosmetic and agrochemical markets.
PAT exclusive know-how is worldwide patented (PAT plant milking® et Target Binding®).
PAT is listed on Euronext GrowthTM of Euronext Paris (ISIN code: FR0010785790 – Mnemonic code: ALPAT).
For more information on TEM1657, look at the PR dated on 19 June, 2017 - Anti-inflammatory active compound presented at BIO Convention in San Diego: http://www.plantadvanced.com/finance-2/press-releases