Lipoxen enters into agreement with Glide Pharma
March 19 2009 - 2:00AM
UK Regulatory
TIDMLPX
RNS Number : 1025P
Lipoxen PLC
19 March 2009
Lipoxen PLC
("Lipoxen" or "the Company")
Lipoxen enters into agreement with Glide Pharma
Collaboration to investigate delivery of SuliXen, Lipoxen's long-acting insulin
candidate for Type 1 and Type 2 diabetes, using the Glide Solid Dose Injector
technology
London, UK, 19 March 2009 - Lipoxen PLC (AIM:LPX), a bio-pharmaceutical company
specialising in the development of high value differentiated biologicals,
vaccines and siRNA delivery, announces today that it has entered into an
agreement with Glide Pharma, a specialty pharmaceutical company developing
products based on its proprietary needle-free drug delivery technology, the
Glide SDI[TM]. The agreement is to investigate the delivery of Lipoxen's
long-acting proprietary insulin, SuliXen, which is a conjugate of insulin with
polysialic acid, using the Glide SDI.
SuliXen has already shown to be safe and well tolerated in a Phase I study and
the long-acting formulation of SuliXen makes this approach very attractive for
the administration of insulin. This needle-free injection could also be a key
competitive advantage for SuliXen as it would meet the clear demand from
patients and physicians for improved forms of insulin, which have, in
particular, more patient convenience.
Under the terms of the agreement Lipoxen will provide Glide Pharma with SuliXen
which Glide Pharma will then incorporate into its proprietary Glide SDI,
needle-free, drug delivery technology which offers the prospect of a safe,
patient friendly, solution for the administration of drugs and vaccines.
Financial details were not disclosed.
M. Scott Maguire, CEO of Lipoxen, said:
"We are delighted to be able to announce this collaboration with Glide Pharma.
SuliXen's reduced dosing regime already suggests it has the potential to become
a recognised competitor in the $12 billion insulin market. Couple this with a
less invasive, easy to use, patient friendly delivery system, and we believe you
have a product that may revolutionalise insulin treatment for patients and
treating physicians in the future."
"This transaction highlights our ability to execute collaboration deals with
very real commercial potential. The needle-free delivery will open up a wide
range of therapeutic options for our candidates and would provide further
validation of the possible wide application of Lipoxen's proprietary PolyXen
molecules. This is a very exciting time for Lipoxen, and its technologies, and I
am confident this collaboration will produce additional value for shareholders."
Dr Charles Potter, CEO of Glide Pharma, said:
"We are very pleased to be collaborating with Lipoxen on a long-acting insulin
product. With an estimated 170 million people worldwide suffering from diabetes
this product could make a real impact on the management of diabetes in the
future, particularly in type 2 diabetes."
- ENDS -
Enquiries - Lipoxen PLC
+-----------------------------------+--------------------------------------+
| Lipoxen PLC | |
+-----------------------------------+--------------------------------------+
| M. Scott Maguire, Chief Executive | +44 (0)20 7691 3583 |
| Officer | |
+-----------------------------------+--------------------------------------+
| | |
+-----------------------------------+--------------------------------------+
| Glide Pharma | +44 (0) 8700 853 700 |
+-----------------------------------+--------------------------------------+
| Charles Potter, CEO | |
+-----------------------------------+--------------------------------------+
| | |
+-----------------------------------+--------------------------------------+
| Teathers (nominated adviser) | |
+-----------------------------------+--------------------------------------+
| Claes SpÄng | +44 (0)20 7426 9000 |
+-----------------------------------+--------------------------------------+
| | |
+-----------------------------------+--------------------------------------+
| Citigate Dewe Rogerson | +44 (0)20 7638 9571 |
+-----------------------------------+--------------------------------------+
| David Dible / Heather Keohane | |
+-----------------------------------+--------------------------------------+
Notes to Editors on Lipoxen
Lipoxen PLC (AIM:LPX) is a biopharmaceutical company specializing in the
development of high value differentiated biologicals, vaccines and oncology
drugs based on its proprietary delivery platforms. Lipoxen's PolyXen delivery
technology is designed to improve the stability, biological half-life and
immunologic characteristics of therapeutic proteins naturally Lipoxen currently
has two products in clinical development using PolyXen, SuliXen, a long acting
insulin and ErepoXen a long-acting erythropoietin (EPO). Phase I results with
these novel products have shown that they have potential to deliver important
dosing advantages to product currently on the market. Both SuliXen and ErepoXen
are addressing multi billion dollar markets. Further products under development
include improved formulations of important biologicals such as G-CSF, and
Interferon-alpha.
Lipoxen has a second naturally-derived proprietary delivery technology,
ImuXen[R] and a related liposomal technology for enhancing the efficacy and
safety of various vaccines including multivalent Hepatitis B-E and pneumococcal
vaccines . The Company's proprietary delivery technologies are attracting
significant interest and Lipoxen is currently co-developing products with the
Serum Institute of India Limited (one of the world's leading vaccine companies,
India's largest biotech company and a major shareholder in Lipoxen) and has
license agreements in place with Baxter International and Schering Plough .
Lipoxen has received funding from the International AIDS Vaccine Initiative
(IAVI) to assess the potential of its ImuXen technology to develop an improved
HIV vaccine. The Company is also working in collaboration on improved vaccine
formulations that could be suitable for refrigeration free distribution, which
would enable vaccines to be much more widely distributed to people in the
developing world.
Lipoxen was admitted to trading on the AIM Market of the London Stock Exchange
in January 2006..
www.lipoxen.com
This announcement includes 'forward-looking statements' which include all
statements other than statements of historical facts, including, without
limitation, those regarding the Company's financial position, business strategy,
plans and objectives of management for future operations (including development
plans and objectives relating to the Company's products and services), and any
statements preceded by, followed by or that include forward-looking terminology
such as the words 'targets', 'believes', 'estimates', 'expects', 'aims',
'intends', 'will', 'can', 'may', 'anticipates', 'would', 'should', 'could' or
similar expressions or the negative thereof. Such forward-looking statements
involve known and unknown risks, uncertainties and other important factors
beyond the Company's control that could cause the actual results, performance or
achievements of the Company to be materially different from future results,
performance or achievements expressed or implied by such forward-looking
statements. Such forward-looking statements are based on numerous assumptions
regarding the Company's present and future business strategies and the
environment in which the Company will operate in the future. Among the important
factors that could cause the Company's actual results, performance or
achievements to differ materially from those in forward-looking statements
include those relating to The Company's funding requirements, regulatory
approvals, clinical trials, reliance on third parties, intellectual property,
key personnel and other factors. These forward-looking statements speak only as
at the date of this announcement. The Company expressly disclaims any obligation
or undertaking to disseminate any updates or revisions to any forward-looking
statements contained in this announcement to reflect any change in the Company's
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statements are based. As a result of these
factors, readers are cautioned not to rely on any forward-looking statement.
Notes to Editors on Glide Pharma
Glide Pharma is a specialty pharma company focused on easy, safe and convenient
solid dose injection of therapeutics and vaccines. Using its proprietary Glide
SDI[TM] (Solid Dose Injector) system, Glide Pharma is building a pipeline of
in-house and partnered products covering small molecules, peptides, proteins and
vaccines. Glide Pharma is currently engaged in six collaborations with
pharmaceutical partners.
The Glide SDI is an innovative needle-free drug delivery system that allows the
injection of drugs, vaccines and other pharmaceutical ingredients in a solid
dosage form. The drug is formulated as a tiny pointed rod of pharmaceutical
material that is pushed through the skin into the underlying tissue where it
dissolves releasing the drug into the patient's bloodstream. The Glide SDI
comprises a reusable, spring powered actuator and a pre-filled, disposable drug
cassette. The system is very easy to use making it ideal for the self
administration of drugs in the home environment. In the clinic, volunteers
overwhelmingly stated that they preferred an injection with the Glide SDI to an
injection with a standard needle and syringe. Storing drugs in a solid dosage
form typically makes them more stable and therefore refrigeration may not be
essential, as is often the case with liquid formulations. The solid dosage form
also enables immediate or controlled release of the drug into the blood stream,
thus optimising the drug release profile or reducing the need for multiple
injections.
www.glidepharma.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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