· The biopharmaceutical development partner will remain anonymous due to competitive reasons.
· The companies will collaborate on the formulation and screening of candidates using Entos’ Fusogenix non-viral delivery platform for nucleic acid therapies.
· The biopharmaceutical partner has the option to exclusively license any candidates developed under this R&D agreement.
· If the option is exercised, Entos could receive up to US$109 million from the license agreement and undisclosed royalties on sales of products resulting from this collaboration.
EDMONTON, Alberta, October 2, 2019 --Entos Pharmaceuticals Inc. (“Entos” or the “Company”), a healthcare biotechnology company focused on the development of next generation nucleic acid-based therapies using their Fusogenix drug delivery platform, announced today that it has entered into a research, development and collaboration agreement (“Agreement”) with a clinical stage biopharmaceutical company (“Partner”) focused on the development of novel therapeutic compounds targeting autoimmune and inflammatory diseases.
Under the terms of the agreement, the Partner has the option to exclusively license candidates developed under the Agreement from Entos for further development and commercialization. In return, Entos receives research funding and is eligible for option exercise fees, research, development, regulatory, and sales milestone payments of up to US$109 million. In addition, the Partner will pay Entos undisclosed royalties on sales of products resulting from the collaboration.
“This marks our second major collaboration for the Fusogenix technology and represents further validation of our non-viral repeat dosing nucleic acid delivery platform,” said Dr. John Lewis, President & CEO of Entos. “We are excited to be working with our new partner to develop new clinical immunotherapy candidates.”
Deloitte Corporate Finance Inc. acted as exclusive financial advisor and Norton Rose Fulbright Canada LLP acted as legal counsel to Entos on the transaction.
About Entos Pharmaceuticals, Inc.
Entos develops next generation nucleic acid-based therapies using their proprietary Fusogenix drug delivery system. Fusogenix uses a novel mechanism of action to deliver molecules, intact and unmodified, directly into the cytosol of target cells. The technology is applicable to a wide range of therapeutic types including gene therapy, mRNA, miRNA, RNAi and CRISPR. For more information, visit www.entospharma.com.
For more information regarding this press release, contact:
John D. Lewis, Ph.D.
President & CEO, Entos Pharmaceuticals, Inc.
Phone: (780) 862-7445