TOKYO–(BUSINESS WIRE)–RIBOMIC Inc., a clinical stage pharmaceutical company specializing in aptamer therapeutics (“RIBOMIC” TSE-Mothers : 4591, President and CEO : Yoshikazu Nakamura, Ph.D.) today announced that RIBOMIC has signed the license agreement with AJU PHARM CO., LTD., Korean pharmaceutical company (“AJU”), for RBM-007 licensing agreement for the indication of the exudative age-related macular degeneration in the territory of Korea and Southeast Asia (Singapore, Philippines, Thailand, Vietnam, Indonesia, Malaysia, Cambodia and Myanmar; hereinafter “the Territory”).
Upon execution of this Agreement, AJU will obtain the exclusive license to develop and sell the Product containing RBM-007 (the “Product”) in the Territory. RIBOMIC will receive an upfront payment of US$1 million and is eligible for potential development milestone payments of up to US$5 million. In addition, RIBOMIC will supply the Product to AJU at product supply prices, which includes royalties, for AJU’s sale of the Product in the Territory.
RBM-007 is currently being evaluated in a Phase 2 study in patients with exudative age-related macular degeneration.
President Kim, Representative Director of AJU Pharmaceuticals, says: AJU Pharm Co. Ltd., is a South Korea-based comprehensive health care company specializing in ophthalmology. AJU Pharm has been providing innovative health solutions since 1953, with its core business in medicine, medical devices, and food and supplements. With its ophthalmic portfolio further strengthened with the in-licensing of RBM-007, AJU Pharm will take the next step towards becoming a globally competitive pharmaceutical company through co-development with Ribomic Inc. in Korea and Southeast Asian countries.
Overview of AJU PHARM
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1. |
Name |
AJU PHARM CO.,LTD. |
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2. |
Address |
600, Gyeongin-ro, Guro-gu, Seoul, Korea |
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3. |
Name of the |
Chairman: Kim, Joongkil |
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4. |
Business |
AJU Pharm has a corporate philosophy of striving not only to treat patients but also to make healthy people live healthier and happier. AJU Pharm manufactures and sells medicine mainly in ophthalmology and is a total healthcare company that supplies medical devices and health foods in Korea. |
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5. |
Revenue |
Approx. USD110M |
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6. |
Capital |
Approx. USD3.5M |
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7. |
Employees No. |
Approx. 400 |
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8. |
Establishment |
1953 |
About RBM-007
RBM-007 is a novel oligonucleotide-based aptamer with potent anti-FGF2 (fibroblast growth factor 2) activity. Currently approved therapies for wet AMD, intravitreal injections of anti-VEGF drugs, have shown dramatic visual benefits for wet AMD patients. However, a significant portion of wet AMD patients exhibit incomplete response to therapy, and over the extended management course can lose vision, with the formation of submacular fibrosis as one risk factor. RIBOMIC investigated a novel therapy for wet AMD targeting fibroblast growth factor 2 (FGF2), which is implicated in not only angiogenesis but also fibrosis in several diseases, and created RBM-007, a novel oligonucleotide-based aptamer with potent anti-FGF2 activity. RBM-007 is chemically synthesized, and pharmacokinetic studies of RBM-007 in the rabbit vitreous revealed high and relatively long-lasting profiles, which are superior to the other approved anti-VEGF drugs. The dual action of RBM-007 (anti-angiogenic and anti-scarring) holds promise as an additive or alternative therapy to anti-VEGF treatments for wet AMD.
Phase 2 POC Study (TOFU Study) is now on going in the United States.
See ClinicalTrials.gov for more information.
https://clinicaltrials.gov/ct2/show/NCT04200248
About wet Age-related Macular Degeneration
Wet (exudative) age-related macular degeneration, is the leading cause of blindness in the United States and Europe. It is caused by the formation of abnormal and leaky new blood vessels under the retina, termed choroidal neovascularization. The leakage of fluid from the vessels causes retinal thickening and retinal degeneration including fibrotic scar formation, and leads to severe and rapid loss of vision.
ABOUT RIBOMIC
RIBOMIC is a bio-venture company centered on drug discovery. The company is engaged in the field of aptamer therapeutics, which is one type of nucleic acid medicine, a field with much potential for the development of next-generation drugs. The RiboART system, the company’s core drug discovery platform, can be used for the discovery of many types of aptamer drugs. RIBOMIC is dedicated to the discovery and development of drugs that target the broad field of unmet medical needs, which encompasses eye disorders, pain and many other problems.
See RIBOMIC website for more information.
https://www.ribomic.com/eng/
Forward-Looking Statements
This announcement contains forward-looking statements relating to current plans, estimates, strategies, belief and the future performance of Company. These statements are based on Company’s current expectations in light of the information and assumptions currently available so that Company does not promise the realization and these expectations may differ materially from those discussed in the forward-looking statements. These factors include, but not limited to, i) changes in general economic conditions and in laws and regulations, relating to pharmaceutical markets, ii) currency exchange rate fluctuations, iii) claims and concerns on the product safety and efficacy, iv) completion and discontinuation of clinical trials, v) infringement of Company’s intellectual property rights by third parties.
Information on pharmaceutical products (including products currently in development), which is included in this press release is not intended to constitute an advertisement or medical advice.
“RIBOMIC,” and the RIBOMIC logo are registered trademarks or trademarks of RIBOMIC Inc. in various jurisdictions.
Contacts
Contacts for inquiries or additional information:
RIBOMIC Inc.
Administrative Division
Shoji Yonebayashi
ir.inquiry@ribomic.com