Le Lézard
Classified in: Health, Science and technology
Subject: Contract/Agreement

Notice of Business Alliance between Promethera® Biosciences SA and MEDIPAL HOLDINGS


Promethera® Biosciences SA ("Promethera®") and MEDIPAL HOLDINGS CORPORATION ("MEDIPAL") today announced that they have entered into a business alliance agreement. In conjunction with today's alliance, MEDIPAL has decided to increase its shareholdings in the Promethera® Group. Details follows below.

The purpose of this alliance
Promethera® has been developing its lead liver cell-derived technology (HepaStemtm) in an area of high medical need, primarily for Non-alcoholic steatohepatitis (NASH), Acute-on-chronic liver failure (ACLF) and urea cycle disorder (UCD). Promethera® completed the recruitment of 24 patients in its Phase 2a study in Acute-on-chronic liver failure (ACLF) in July 2019. The 3 months follow-up data were presented on 10th November at the AASLD 2019 conference (70th American Association for the Study of the Liver Diseases). In addition, the Phase 2a clinical study in patients with late stage NASH with world's first cell therapy was initiated in May 2019. MEDIPAL will support Promethera® in the commercialization of its products in Japan through the subscription to a private placement of new shares on March 20th, 2019, with the aim to expand the products it handles in the regenerative medicine field going forward.

The purpose of this alliance is to further deepen the cooperative relationship between the two companies by providing access to MEDIPAL's know-how and capabilities in the distribution of cellular medicines at ultra-low temperatures. MEDIPAL will support Promethera®'s clinical trials and aims to provide a steady supply after its product launch.

"With about 430 cases per year, the percent of patients receiving a liver transplant in Japan is significantly lower than in the US, where some 8,000 patients receive a transplant every year. Rescue solutions for Japanese patients with fatal liver diseases are performing poorly too. An even closer partnership with MEDIPAL will support us in setting up clinical trials in Japan that could positively impact and contribute to a solution for this considerable medical need in Japan. Building on this partnership, we will accelerate the clinical development of HepaStemtm towards a subsequent market launch in Japan, which will be a meaningful new development for Japanese patients suffering from end-stage liver disease," said Dr John Tchelingerian, President and CEO of Promethera®. "Mastering the entire supply chain is a key requirement for an off-the-shelf allogeneic cell therapy product, and MEDIPAL's expertise and capabilities in this sector will be very valuable in this regard."

"Promethera®'s HepaStemtm program can potentially become the world's first therapeutic product using liver stem cells for the treatment of severe liver diseases," commented Shuichi Watanabe, Chief Executive Officer of MEDIPAL. "Liver disease prevalence is rising in Japan and around the world due to an increase in obesity and other metabolic syndromes. The need to deliver effective treatments such as Promethera®'s is expected to augment rapidly. MEDIPAL's system enables strict temperature management and traceability by using SDDU (Specialty Drug Distribution Unit: a liquid nitrogen-based ultra-low cold chain system for drug distribution) and has an extensive expertise in this field. We are very pleased with this partnership and the opportunity to support the development and the logistics of this innovative product candidate with our capabilities."

About MEDIPAL HOLDINGS CORPORATION

Head office

2-7-15, Yaesu Chuo-ku Tokyo 104-8461 Japan

Representative

Shuichi Watanabe, Representative Director, President and CEO

Business

As a holding company, MEDIPAL controls, administers and supports the operating activities of companies in which it holds shares in the Prescription Pharmaceutical Wholesale Business; the Cosmetics, Daily Necessities and OTC Pharmaceutical Wholesale Business; and the Animal Health Products and Food Processing Raw Materials Wholesale Business, and conducts business development for the MEDIPAL Group.

Website

https://www.medipal.co.jp/english

About Promethera® Biosciences S.A.

Head office

Watson & Crick Hill, Rue Granbonpré, 11 B-1435 Mont-Saint-Guibert, Belgium

Representative

John Tchelingerian, PhD, President & CEO

Business

Promethera® Biosciences is a global innovator in liver therapeutics whose mission is to bring patients life-saving treatments to reduce the need for liver transplantation. Promethera® develops and manufactures allogeneic cell-based medicines for liver diseases by using regenerative medicine technology.

Website

https://www.promethera.com/

 


These press releases may also interest you

4 jui 2020
SummaryProducts: Cetrotide 0.25mg Issue: One lot of Cetrotide 0.25mg is being recalled because some vials may have missing stoppers, which could make the product unsterile. What to do: Check the lot number on your product or contact your pharmacist...

4 jui 2020
In lieu of an in-person update to the media, Dr. Theresa Tam, Canada's Chief Public Health Officer, issued the following statement today: "There have been 105,091 cases of COVID-19 in Canada, including 8,663 deaths. 65% of people have now recovered....

4 jui 2020
The latest data of the evolution of COVID-19 in Québec reveal 102 new cases over the past 24 hours, bringing the total number of people infected to 55,784. During the same period, 3 new deaths were recorded, to which are added 3 deaths that occurred...

4 jui 2020
On Friday, the British government announced that, as of July 10th, those travelling from the Commonwealth of Dominica to England need not self-isolate for 14 days. Dominica is one of the 59 countries and 14 British Overseas Territories forming a...

4 jui 2020
Gilead Sciences, Inc. today announced data from an ongoing Phase 1 study, which showed that a sustained-delivery subcutaneous formulation of the company's investigational, novel inhibitor of HIV-1 capsid function, lenacapavir (GS-6207), sustained...

4 jui 2020
Gilead Sciences, Inc. today announced data demonstrating the safety and efficacy of the once-daily, single tablet regimen Biktarvy® (bictegravir 50 mg/emtricitabine 200 mg/tenofovir alafenamide 25 mg tablets, B/F/TAF) in virologically suppressed...



News published on 12 november 2019 at 01:05 and distributed by: