PolyTherics Ltd., a provider of technology solutions to enable companies to develop better biopharmaceuticals, announced that Nuron Biotech, Inc., a speciality biologics and vaccines company, has exercised its option to take a license to PolyTherics’ TheraPEG conjugation technology to develop and commercialise a long-acting proprietary human interferon beta-1b (NU400).
Nuron’s decision to take an exclusive worldwide licence for the application of TheraPEG follows its review of data generated by PolyTherics that demonstrates the efficiency of its conjugation chemistry for site-specific attachment of polyethylene glycol (PEG) to its proprietary human interferon beta-1b and the potency and extended half-life of the PEGylated interferon beta-1b. PolyTherics will receive an option fee from Nuron and is eligible for further milestone payments and royalties as Nuron progresses NU400 through development.
“Progression of the development of NU400 under a licence to TheraPEG is an important further validation of the potential for PolyTherics’ technology to enable the development of better biopharmaceutical products so that patients can be offered superior treatment options,” commented PolyTherics’ CEO, John Burt.
Date: December 15, 2011
Source: PolyTherics Ltd