November 12, 2008
Antyra Enters into Licensing Agreement for Anticancer Agents From Novo Nordisk A/S
Antyra, Inc. today announced that it has entered into a global licensing agreement with Novo Nordisk A/S (NYSE: NVO), for IGF-related antagonists for the treatment of cancer and other diseases. Under the Agreement, ANTYRA will obtain exclusive rights to develop and commercialize certain IGF antagonists discovered during the Research and License Collaboration Agreement entered into between the Companies in December 2001.
IGF, or insulin-like growth factor, is a natural growth promoting entity, the blockage of whose action has attracted attention as a potential anti-cancer therapy for the treatment of many solid tumors. An increasing body of epidemiologic data links elevated serum IGF levels with the risk of a number of different cancers including pancreatic, prostate, colorectal, breast, and lung. While the actions of IGF are complex, it is becoming clear that this system may mediate the effect of a number of well-established cancer risk factors."We are very happy to conclude this arrangement with Novo Nordisk," commented Dr. Neil Goldstein, Antyra's President and Chief Scientific Officer. "We believe that the Company has generated some exciting data with several of the IGF-1R antagonists and they represent a novel and potentially effective clinical strategy for the treatment of pancreatic and other cancers."
John Prendergast, Executive Chairman stated, "Our IGF antagonists were developed from the Company's innovative technology platform during our Research Collaboration with Novo Nordisk. They are representative of a new generation of therapeutics called Peptimetics which have all the attributes of targeted therapeutics with several advantages such as improved specificity, low cost of goods and ease of manufacture. We believe that the development of our Peptimetics can have an immediate and beneficial impact on the treatment of cancer and many other therapeutic indications and as such are intended to present competitive and viable alternatives to other biopharmaceuticals, such as antibodies as well as traditional small molecules."
Financial terms of the agreement were not disclosed.
Novo Nordisk is a healthcare company and a world leader in diabetes care. In addition, Novo Nordisk has a leading position within areas such as haemostasis management, growth hormone therapy and hormone replacement therapy. Novo Nordisk manufactures and markets pharmaceutical products and services that make a significant difference to patients, the medical profession and society. With headquarters in Denmark, Novo Nordisk employs approximately 26,000 employees in 80 countries, and markets its products in 179 countries. Novo Nordisk's B shares are listed on the stock exchanges in Copenhagen and London. Its ADRs are listed on the New York Stock Exchange under the symbol 'NVO'. For more information, visit novonordisk.com.
Antyra is a biotechnology company focusing on the development of the next generation of biologicals, called Peptimetics, that are target-specific therapeutics with improved safety and efficacy profiles. The Company is using its proprietary Peptimetics to build a sustainable pipeline of innovative therapeutics for cancer and other diseases based on their ability to disrupt and intervene at critical disease-associated functions. With this capability in place, the Company can offer unprecedented opportunities to develop therapeutics for any disease indication. Given the broad potential of its proprietary discovery platform, the Company intends to enter into productive and valuable licensing and partnering relationships.
For further company information visit http://www.antyra.com.
This press release includes statements that may constitute forward-looking statements made pursuant to the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995. This information may involve risks and uncertainties, including without limitation, risks relating to the development by ANTYRA of its technology, that could cause actual results to differ materially from the forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.