Resverlogix and Medison Pharma Ltd. Announce Strategic Licensing Agreement
Alliance to focus on regulatory approval, commercialization and marketing of novel apabetalone therapy in Israel
CALGARY, Alberta, Jan. 08, 2018 (GLOBE NEWSWIRE) -- Resverlogix Corp. ("Resverlogix" or the "Company") (TSX:RVX) today announced that it has entered into a licensing agreement with Medison Pharma Ltd. ("Medison") for the Company's lead therapeutic candidate, apabetalone (RVX-208), in Israel and the Palestine Authority. Apabetalone is currently in development for the treatment of high-risk cardiovascular disease (CVD) in patients with type 2 diabetes (T2D) and chronic kidney disease (CKD), and potential expanded indications.
Under the terms of the agreement, Medison has the exclusive rights to distribute and market apabetalone in Israel. Resverlogix is eligible to receive from Medison, ascending double digit royalties based on future net sales of the product in the region. If certain sales milestones are reached total royalty payments are estimated to potentially reach in excess of US$100 million over the entire patent life in the region. Medison will be responsible for all regulatory, sales and marketing costs for apabetalone in the Israel region.
"This partnership with Medison is an important validation for our lead molecule apabetalone and our BET inhibition technology," stated Donald McCaffrey, President and CEO of Resverlogix. "Patients in Israel have access to an innovative world class health care system. Having Medison as a leading partner is instrumental in the commercialization and marketing of apabetalone for the many high-risk vascular disease patients in the Israel national health system," McCaffrey added.
"Apabetalone represents a potential new and important therapeutic approach to risk reduction for areas of critical unmet need in Israel such as CVD, diabetes, and CKD. We look forward to the continued clinical success of apabetalone and working with Resverlogix in fulfilling Medison's vision to provide innovative treatments to patients in Israel," stated Meir Jakobsohn, CEO and founder of Medison.
"Israel represents an important market for medical innovation," stated Kenneth Lebioda, Senior Vice President of Business and Corporate Development at Resverlogix. "We will continue to work closely and strengthen our ongoing collaboration with Medison to ensure successful regulatory approval and commercialization of apabetalone in Israel," Mr. Lebioda added.
Medison is Israel's leading marketing group, representing innovative niche healthcare solutions to companies such as Biogen, Amgen, Shire and Ipsen. Employing a comprehensive approach to sales and service, Medison supplies and maintains long-standing relations with HMOs (Health Maintenance Organizations), local medical centers and physicians. Backed by three generations of experience in the healthcare industry since 1937, Medison is uniquely qualified to provide the complete spectrum of integrated services for international companies looking to enter or expand their presence in the Israeli healthcare market.
Resverlogix is developing apabetalone (RVX-208), a first-in-class, small molecule that is a selective BET (bromodomain and extra-terminal) inhibitor. BET bromodomain inhibition is an epigenetic mechanism that can regulate disease-causing genes. Apabetalone is the first and only BET inhibitor selective for the second bromodomain (BD2) within the BET protein called BRD4. This selective inhibition of apabetalone on BD2 produces a specific set of biological effects with potentially important benefits for patients with high-risk cardiovascular disease (CVD), diabetes mellitus (DM), chronic kidney disease, end-stage renal disease treated with hemodialysis, neurodegenerative disease, Fabry disease, peripheral artery disease and other orphan diseases, while maintaining a well described safety profile. Apabetalone is the only selective BET bromodomain inhibitor in human clinical trials. Apabetalone is currently being studied in a Phase 3 trial, BETonMACE, in high-risk CVD patients with type 2 DM and low high-density lipoprotein (HDL), and is expected to be initiated in a Phase 2a kidney dialysis trial designed to evaluate biomarker changes and safety parameters in up to 30 patients with end-stage renal disease treated with hemodialysis.
Resverlogix common shares trade on the Toronto Stock Exchange (TSX:RVX).
Follow us on Twitter: @Resverlogix_RVX (https://twitter.com/resverlogix_rvx)
This news release may contain certain forward-looking information as defined under applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. In particular, this news release includes forward looking information relating to estimated royalty payments pursuant to the licensing agreement with Medison, the Company's Phase 3 clinical trial and the potential role of apabetalone in the treatment of CVD, DM, chronic kidney disease, end-stage renal disease treated with hemodialysis, neurodegenerative disease , Fabry disease, peripheral artery disease and other Orphan diseases. Our actual results, events or developments could be materially different from those expressed or implied by these forward-looking statements. We can give no assurance that any of the events or expectations will occur or be realized. By their nature, forward-looking statements are subject to numerous assumptions and risk factors including those discussed in our Annual Information Form and most recent MD&A which are incorporated herein by reference and are available through SEDAR at www.sedar.com . The forward-looking statements contained in this news release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact:
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Resverlogix Corp via Globenewswire
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