MedImmune Ventures to Make Equity Investment
PINE BROOK, N.J., April 20 /PRNewswire/ -- Elusys Therapeutics, Inc., a
developer of targeted anti-infective therapeutics, today announced that it
has entered into an exclusive license and collaboration agreement with
MedImmune, Inc. to develop new therapeutics for select infectious disease
targets using Elusys' proprietary Heteropolymer (HP) Antibodies.
Under the terms of the agreement, Elusys will receive an upfront
payment, milestone payments as well as royalties on any future marketed
products. MedImmune Ventures, Inc., a wholly owned venture capital
subsidiary of MedImmune, Inc. will also make an equity investment in
Elusys.
HP Antibodies represent a new approach for the treatment of antibiotic
resistant infections distinct from traditional antibody therapy. HP
Antibodies utilize natural immune system mechanisms to clear pathogens and
provide a means to develop novel drug candidates targeted against
bacterial, viral and fungal infections. By targeting a unique immune
receptor, HP Antibodies enhance a natural clearance mechanism and direct
the rapid removal of pathogens from the circulation to tissue macrophages.
"Elusys is delighted to enter into this collaboration to develop HP
Antibodies for infectious disease," said Elizabeth Posillico, Ph.D.,
President & CEO of Elusys Therapeutics. MedImmune's expertise in developing
and marketing innovative drugs for treating and preventing infectious
diseases, provides Elusys with a great opportunity to deploy our
proprietary HP Antibodies, while we internally advance the development of
our drug candidates including ETI-211, for methicillin-resistant
Staphylococcus aureus (MRSA) infections."
"Our collaboration with Elusys builds on our infectious disease
development programs with Elusys' proprietary HP Antibodies," stated Edward
T. Mathers, Medimmune's Senior Vice President of Corporate Development. "We
look forward to developing potential new treatment and prevention options
for a variety of infectious diseases through this new product development
initiative."
Under the agreement, MedImmune will combine its expertise in monoclonal
antibodies with Elusys' proprietary HP Antibodies to develop new therapies
targeting select infectious disease targets. Elusys and MedImmune will
conduct a joint preclinical development program, and MedImmune will be
responsible for clinical development and worldwide commercialization
efforts of any products that result from this collaboration.
About ETI-211
ETI-211 is a proprietary HP Antibody drug being developed to treat
methicillin-resistant Staphylococcus aureus (MRSA) infections. In
previously reported studies, mice given ETI-211 prophylactically were
completely protected against a lethal MRSA challenge. Further, all ETI-211
treated animals survived a second lethal challenge of either MRSA or S.
epidermidis months later with no additional drug treatment.
This broad "vaccine-like" protection was found to be due, in large
part, to the production of significant levels of antibodies that recognize
S. aureus, and S. epidermidis, as a result of ETI-211 treatment during the
first infection.
About Elusys
Elusys is a privately-held biopharmaceutical company focused on the
development of targeted anti-infective therapeutics using its proprietary
HP Antibodies for the treatment of infectious disease. MedImmune Ventures,
Inc. joins current venture investors including Essex Woodlands Health
Ventures LLC, Invesco Private Capital, Crescendo Ventures, and the Legg
Mason Emerald Fund. Elusys is currently raising additional venture capital
funds from new investors and existing shareholders.
In 2005, Elusys was awarded $4.4M from the National Institute of
Allergy and Infectious Diseases (NIAID) and $1M from the Department of
Defense for advanced development of its Anthrax therapeutic, Anthim(TM). To
date, the Company has been awarded over $20M from the U.S. Government for
the development of novel therapeutics to combat bioterror agents. For more
information on Elusys please visit http://www.elusys.com.
Contact:
Donna LaVoie or Bryan Murphy
LaVoie Group
781-596-0200 X103 or X 105
dlavoie@lavoiegroup.com
bmurphy@lavoiegroup.com
SOURCE Elusys Therapeutics, Inc.
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Related links:
http://www.elusys.com
CONTACT:
Donna LaVoie, dlavoie@lavoiegroup.com, or
Bryan Murphy, bmurphy@lavoiegroup.com, both of the LaVoie Group,
+1-781-596-0200 ext. 103 or ext. 105
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