EU grants EUR 6m to the clinical development of Athera´s cardiovascular disease antibody therapy
ET | Source:Karolinska Development AB
STOCKHOLM, SWEDEN – June 17, 2013. Athera Biotechnologies AB today announced
that future development costs of its fully human antibody PC-mAb up until proof
-of-concept will be co-funded by the European Union’s Seventh Framework
Programme for Research (FP7) through a collaborative research grant. Karolinska
Development AB owns 65% of Athera Biotechnologies AB.
Athera’s fully human monoclonal antibody PC-mAb is targeting phosphorylcholine
and is being developed for the treatment of patients with an increased risk of
atherosclerosis related cardiovascular events and death. This includes
myocardial infarction patients and patients with peripheral arterial disease
undergoing vein graft surgery.
“The grant underpins the level of innovation of the PC-mAb project and will
substantially contribute to the pace of the future development”, comments
Torbjörn Bjerke, CEO of Karolinska Development.
The EUR 6m grant has been provided to the CARDIMMUN consortium, consisting of
Athera, Leiden University Medical Center (LUMC), Turku PET Center (Turku
University), Clinical Trial Consultants (CTC) and Smerud Medical Research. The
project has a total budget of nearly EUR 8m and will be running over three
years, focusing on key preclinical activities and clinical trials aimed at
demonstrating proof-of-concept of this new cardiovascular treatment. LUMC is the
project coordinator and will be leading the project together with Athera.
“I am very pleased that Athera is part of the CARDIMMUN consortium and thereby
receives support from the FP7. With this non-dilutive funding, Athera will be
able to take its proprietary monoclonal antibody PC-mAb through major
milestones”, says Carina Schmidt, CEO of Athera Biotechnologies.
For further information, please contact:
Torbjörn Bjerke, CEO, Karolinska Development AB
Phone: +46 (0)72 744 41 23, e‐mail: email@example.com
Carina Schmidt, CEO, Athera Biotechnologies AB
Phone: +46 (0)76 193 81 90, e‐mail: firstname.lastname@example.org
Benjamin Nordin, IRO, Karolinska Development AB
Phone: +46 (0)73 093 60 80, e-mail: email@example.com
TO THE EDITORS
About Athera Biotechnologies AB
Athera has a unique and in-depth understanding of the immunological components
in atherosclerosis, the inflammatory process leading to cardiovascular disease
(CVD). The lead product candidate, PC-mAb, is in late preclinical development.
In addition, Athera has developed a biomarker and companion diagnostic CVDefine®
kit. Low levels of the biomarker, anti-PC, is linked to increased risk for
cardiovascular disease and could in the future be used for identification of
patients that benefit from Athera’s novel therapeutics. For more information,
please visit www.athera.se.
About Karolinska Development AB
Karolinska Development aims to create value for patients, researchers, and
investors by developing innovations from world class science into products that
can be sold or out-licensed with high returns. The business model is to: SELECT
the most commercially attractive medical innovations; DEVELOP innovations to the
stage where the greatest return on investment can be achieved; and COMMERCIALIZE
the innovations through the sale of companies or out-licensing of products. An
exclusive deal flow agreement with Karolinska Institutet Innovations AB, along
with other cooperation agreements with leading universities, delivers a
continuous flow of innovations. Today, the portfolio consists of 36 projects, of
which 15 are in clinical development. For more information, please visit
Naturally occurring antibodies to phosphorylcholine (anti-PC) have anti
-inflammatory properties and prevent the uptake of oxidized LDL in macrophages.
So does PC-mAb from Athera, a unique fully human monoclonal antibody developed
for Athera by Dyax Corp. in Boston, USA, and which is currently in late pre
-clinical development. PC-mAb is aimed at restoring cardio-protective levels of
anti-PC and thereby preventing secondary CVD events.
FP7 (7th Framework Programme for Research and Technological Development) is a
key tool for the European Commission to respond to Europe's needs in terms of
jobs and competitiveness, and to maintain leadership in the global knowledge
economy. The programme has a total budget of over EUR 50bn, which will (for the
most part) be spent on grants to research activities all over Europe and beyond,
in order to co-finance research, technological development and demonstration
projects. Grants are determined on the basis of calls for proposals and a peer
review process, which are highly competitive.
Karolinska Development is listed on NASDAQ OMX. Karolinska Development may be
required to disclose the information provided herein pursuant to the Securities
GlobeNewswire, a Nasdaq company, is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
2321 Rosecrans Avenue.
El Segundo, CA 90245 Phone: (800) 307-6627 Fax: (800) 307-3567
25 Basinghall Street,
London EC2V 5HA
UK Phone: +1 866-465-8454