Beta Therapeutics Inc have inked an R&D agreement
Oxurion NV and Beta Therapeutics Inc have inked an R&D agreement aimed to develop new heparanase inhibitors to treat dry AMD.
Under the terms of the agreement Oxurion will have an exclusive option to license the heparanase inhibitor programmes developed for the treatment of dry AMD.
Beta Therapeutics has several preclinical candidates in its pipeline, which go back to the company’s scientific co-founders Prof. Chris Parish and Dr. Charmaine Simeonovic from the Australian National University.
The company will receive an undisclosed upfront payment from Oxurion and is eligible to receive a payment upon exercising the licensing option, development, regulatory and commercial milestone payments, as well as royalties on net sales on the products developed under the partnership.
Heparanase is an endoglycosidase playing an important role in modifying the extracellular matrix and in inflammatory processes. Overexpression of heparanase occurs under pathological conditions resulting in detrimental changes in the extracellular matrix and tissue micro-environment. In the retina, heparanase has been implicated in Diabetic Retinopathy (DR) and potentially in Age-related Macular Degeneration (AMD) pathogenesis.
“This partnership is a recognition of all the work on heparanase carried out at Beta Therapeutics and at the Australian National University ” stated Dr. Keats Nelms, CEO & Co-Founder of Beta Therapeutics, who holds a patent application on functionalized dihydro- and tetrahydro-quinazoline compounds blocking heparanase.