STOCKHOLM, Sweden and WALTHAM, Mass., Jan. 23 /PRNewswire/ -- Biovitrum
AB, Sweden, and Syntonix Pharmaceuticals, Inc., USA, have entered into a co-
development and commercialization agreement for Syntonix' long-acting,
recombinant Factor IX product for Hemophilia B ("FIX:Fc"). Under the terms of
the agreement, Syntonix receives an initial collaboration fee and Biovitrum
makes an equity investment in Syntonix.
Biovitrum and Syntonix will jointly develop and commercialize FIX:Fc.
Syntonix is responsible for marketing in North America and Biovitrum is
responsible for marketing in Europe, Russia and the Middle East. The companies
will equally share the costs and profits for development and commercialization
of FIX:Fc. Under the terms of the agreement, Syntonix will receive milestone
payments and an additional equity investment from Biovitrum based on the
progress of the program. In the future, Biovitrum and Syntonix may decide to
expand the collaboration to include additional long-acting protein products.
Additional financial terms will not be disclosed.
There is an increasing trend toward use of Factor IX for prophylaxis
treatment of Hemophilia B, which requires several infusions per week with the
currently available drugs. The extended half-life of Syntonix' FIX:Fc product
could enable effective treatment for both prophylaxis and on-demand therapy
with less frequent intravenous injections and thereby provide a new, improved
therapy for these patients. The total market potential for Factor IX products
is estimated to be in excess of USD $600 million worldwide, per year.
"We are pleased to develop FIX:Fc with Syntonix because Syntonix'
SynFusion(TM) technology has resulted in a very promising, long-acting
recombinant Factor IX product that has the potential to reduce the frequency
of infusions required for Hemophilia B patients to manage their disease. The
signed agreement further consolidates our strength in the hemophilia
therapeutic area where we have significant experience and interests,"
commented Mats Pettersson, CEO of Biovitrum.
"Biovitrum is making an equity investment in our company, underscoring the
importance of this strategic alliance for both Biovitrum and Syntonix,"
commented John Ripple, CEO of Syntonix. "We are especially pleased to be
working with Biovitrum, one of the largest biotechnology companies in Europe
with experience in both the development and manufacturing of biopharmaceutical
products."
About Hemophilia
Hemophilia is a rare hereditary disorder in which the ability of patients'
blood to clot is impaired. As a result, the patient suffers from excessive
bleeding and uncontrolled internal bleeding, leading to pain and eventual
permanent damage to joints and muscles. One form, Hemophilia B results from
mutations that impair the production of Factor IX. It has been reported that
even with "proper treatment" the life expectancy of hemophilia patients is
about 10 years less than for individuals without hemophilia. Increasingly, the
normal mode of treatment for younger patients is a prophylaxis regimen where
patients are infused two or three times per week to maintain a better
circulating level of coagulation factor. Long term studies in Sweden and
elsewhere demonstrate that such regimens greatly reduce if not eliminate
progressive joint deterioration.
About Biovitrum
Biovitrum is one of the largest biotechnology companies in Europe. With
operations in Sweden and in the UK Biovitrum conducts research and develops
pharmaceuticals for both widespread diseases and conditions that affect
smaller patient populations. Biovitrum focuses on drugs for the treatment of
obesity, diabetes and inflammation as well as for niche indications within
these therapeutic areas. Biovitrum also develops and produces protein-based
drugs on a contractual basis and markets a range of specialist pharmaceuticals
primarily in the Nordic countries. Biovitrum has approximately 500 employees.
For more information see http://www.biovitrum.com/.
About Syntonix
Syntonix is developing next generation biopharmaceuticals that enable
better treatment options for patients with devastating chronic diseases such
as hemophilia, anemia, multiple sclerosis, and autoimmune disorders. The
company applies its core technologies to develop long-acting
biopharmaceuticals that may be inhaled or injected less frequently, and to
discover novel drugs to treat antibody-mediated autoimmune and inflammatory
disorders. The resulting proteins, peptides and antibodies are being
commercialized through internal development programs and collaborations with
biotechnology and pharmaceutical partners.
Syntonix' lead product is a long-acting Factor IX product for the
treatment of Hemophilia B, which is being developed in a strategic alliance
with Biovitrum AB of Sweden. Upon approval, Syntonix will market the product
in North America. More information is available at http://www.syntnx.com.
For further information, contact:
Biovitrum AB
Mats Pettersson, CEO
Phone: +46 8 697 20 00
Mobile: +46 70 314 75 79
mats.pettersson@biovitrum.com
Anna Karin Kallen, Head of Communications
Phone: +46 8 697 20 85
Mobile: +46 73 433 20 85
annakarin.kallen@biovitrum.com
Syntonix:
John Ripple
CEO
Syntonix Pharmaceuticals
Phone: +1 781 547 5288
jripple@syntnx.com
Media Relations:
Kari Watson
MacDougal Biomedical Communications
Phone: +1 508 647 0209
kwatson@macbiocom.com
SOURCE Syntonix Pharmaceuticals, Inc.
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Related links:
http://www.syntnx.com
http://www.biovitrum.com
CONTACT:
Mats Pettersson, CEO, +46 8 697 20 00 or
mobile: +46 70 314 75 79, mats.pettersson@biovitrum.com, or Anna
Karin Kallen, Head of Communications, +46 8 697 20 85 or mobile:
+46 73 433 20 85, annakarin.kallen@biovitrum.com, both of
Biovitrum AB; John Ripple, CEO of Syntonix Pharmaceuticals,
+1-781-547-5288, jripple@syntnx.com; or Kari Watson of MacDougal
Biomedical Communications for Syntonix Pharmaceuticals, +1-508-
647-0209, kwatson@macbiocom.com
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