DGAP-News: 4SC AG / Key word(s): Investment/Alliance Press Release: 4SC Discovery and Panoptes Pharma sign patent transfer agreement for novel compound to treat severe eye diseases
26.09.2013 / 07:30
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Press Release
4SC Discovery and Panoptes Pharma sign patent transfer agreement for novel compound to treat severe eye diseases
Planegg-Martinsried/Germany and Vienna/Austria, 26 September 2013 - 4SC AG (Frankfurt, Prime Standard: VSC), a discovery and development company of targeted small molecule drugs for autoimmune diseases and cancer, today announced that its wholly-owned research subsidiary 4SC Discovery GmbH has entered into a patent transfer agreement with Austrian biotechnology company Panoptes Pharma Ges.m.b.H, Vienna.
The agreement gives Panoptes Pharma full patent rights to an anti-inflammatory, small molecule substance that was discovered by 4SC Discovery and is currently in preclinical development stage. Panoptes will continue developing this substance - the immune modulator PP-001 - for therapeutic application in the field of inflammatory eye diseases with high medical need and will market the compound if development is successful. Target indications of Panoptes for the substance are uveitis and viral conjunctivitis (commonly known as 'pink eye').
In return, 4SC Discovery receives a share of 24.9% in Panoptes Pharma and is entitled to subsequent, performance-based milestone payments and royalties based on the sales revenue generated with the compound. Furthermore, 4SC Discovery has the right to use the compound in the therapeutic fields of rheumatoid arthritis (RA) and inflammatory bowel disease (IBD). In the event of the further development and/or commercialisation of the compound in RA and/or IBD by 4SC Discovery, Panoptes would be entitled to milestone payments and royalties.
Dr. Daniel Vitt, Managing Director of 4SC Discovery GmbH and Chief Scientific Officer at 4SC AG, comments: 'This partnership again demonstrates the great expertise and scientific potential of 4SC in the fields of autoimmune and inflammatory diseases. In Panoptes Pharma, we found an aspiring, young biotech company which will advance the preclinical and clinical development of our innovative compound with great dedication. We wish the highly motivated and experienced team at Panoptes great success. The equity stake in Panoptes and the agreed potential milestone payments and royalties represent an attractive opportunity for us to participate in the successful future development of our substance in the field of severe eye diseases.'
'Despite the fact that millions of patients suffer from chronic uveitis and adenoviral conjunctivitis there is no safe and well tolerable medication available to treat these eye diseases. PP-001 showed excellent efficacy and good tolerability in animal models. We are fortunate to have with 4SC Discovery a renowned and reliable partner on board and Panoptes is now in the position to furtherdevelop this promising drug candidate', explains Dr. Franz Obermayr, CEO of Panoptes Pharma.
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DGAP-News: Press Release: 4SC Discovery and Panoptes Pharma sign patent transfer agreement for novel compound to treat ...