Mar 17 2015
Immune Pharmaceuticals Inc. ("Immune", the "Company") announced today that it has entered into a binding memorandum of understanding with Yissum, the Technology Transfer Company of the Hebrew University of Jerusalem, to license certain of Yissum's patents in order to facilitate the development of a topical nanoparticle formulation of Immune's neuropathic pain drug, AmiKet™.
The technology that Immune will be licensing was invented by Professor Simon Benita, from the Institute for Drug Research, the School of Pharmacy, and Faculty of Medicine at the Hebrew University, a renowned expert in development of drug delivery technology, and a primary inventor of NanomAbs, an antibody nanoparticle conjugate technology to deliver cancer drugs, already licensed by Immune from Yissum.
"Expanding our relationship with Yissum and leveraging Professor Benita's expertise in nanotechnology is an important strategic step for AmiKet," said Dr. Daniel Teper, CEO of Immune Pharmaceuticals. "We expect that this new formulation will likely increase the patent exclusivity of AmiKet by more than 10 years, support development of additional pain indications and may even provide additional clinical benefits."
Immune Pharmaceuticals is currently conducting a search for an appropriate partner for the final development and commercialization of AmiKet, which is ready for Phase III clinical trial in post herpetic neuralgia and has been granted Orphan Drug Designation by the Food and Drug Administration. The Company expects to select a partner and secure a licensing agreement by the second quarter of 2015. The topical nanoparticle formulation of AmiKet will be developed collaboratively by Immune and Yissum upon the execution of a license agreement between the parties and will be part of the AmiKet commercialization agreement.
About Immune Pharmaceuticals Inc.
Immune Pharmaceuticals Inc. applies a personalized approach to treatment, developing novel, highly-targeted antibody therapeutics to improve the lives of patients with inflammatory diseases and cancer. The Company's lead product candidate, bertilimumab, is in clinical development for moderate to severe ulcerative colitis and crohn's disease as well as bullous pemphigoid, an orphan auto-immune dermatological condition. Immune licensed worldwide rights for systemic indications of bertilimumab from iCo Therapeutics (TSX: ICO) (OTCQX: ICOTF) in June 2011, while iCo retained rights to all ophthalmic indications. iCo originally licensed the exclusive world-wide rights to bertilimumab in 2006 from MedImmune, the Global Research and Development Arm of AstraZeneca. Immune's pipeline also includes NanomAbs, antibody nanoparticle conjugates, for the targeted delivery of chemotherapeutics, licensed from Yissum, the Technology Transfer Company of the Hebrew University of Jerusalem and AmiKet™, a Phase III ready neuropathic pain drug candidate. AmiKet has received Orphan Drug Designation for post herpetic neuralgia.
For more information, visit Immune's website at www.immunepharmaceuticals.com, the content of which is not part of this press release.
Source: http://immunepharmaceuticals.com/