LEUVEN, Belgium, May 28, 2013 /PRNewswire/ --
ThromboGenics NV (Euronext Brussels: THR) a biopharmaceutical company focused on developing and commercializing innovative ophthalmic medicines, announces that it has commenced research and development of innovative protein therapeutics to address a novel ThromboGenics-identified biologic target implicated in a range of diabetic eye diseases such as diabetic macular edema (DME).
ThromboGenics will utilize Eleven Biotherapeutics' proprietary AMP-Rx protein design technology to create a novel therapeutic of ThromboGenics' selection optimized for improved pharmaceutical characteristics and therapeutic benefits.
ThromboGenics will have the exclusive license to all future developments and commercialization of this novel protein. In exchange, Eleven Biotherapeutics will receive an undisclosed upfront payment, and is eligible to receive undisclosed development, regulatory and sales milestone payments as well as royalties on potential future sales commensurate with industry standards.Dr Patrik De Haes, CEO of ThromboGenics, said: " This is an important step forward as we continue to build our ophthalmology franchise following the recent introduction of JETREA® for the treatment of symptomatic vitreomacular adhesion (VMA)/ vitreomacular traction (VMT) in the US and Europe. We are pleased to have signed this agreement with Eleven Biotherapeutics and we are confident that by utilizing their unique ability to design and optimize protein therapeutics we will generate an innovative protein therapeutic to address a novel target that we have identified. Our research suggests that protein therapeutics directed at this target could be used to treat a broad range of diabetic eye diseases including DME " . " Eleven ' s novel approach to designing protein therapeutics for ocular diseases, which has been demonstrated with EBI-005, our lead product candidate in Phase 1b clinical development for dry eye disease, will be applied to discover and optimize novel modulators of this evolving pathway which is central to ophthalmic disease, " said Abbie Celniker, President and CEO of Eleven Biotherapeutics. " This collaboration validates Eleven ' s unique approach to rational protein engineering through novel structures, enhanced biophysical properties, and more effective targeting in disease pathways. "