Arbutus Licenses LNP Delivery Technology to Alexion for Use in Single Messenger RNA Product Candidate
March 16 2017 - 5:00PM
Arbutus Biopharma Corporation (Nasdaq:ABUS), an industry-leading
therapeutic solutions company focused on developing a cure for
chronic hepatitis B virus (HBV) infection, today announced it has
licensed to Alexion Pharmaceuticals, Inc. (Nasdaq:ALXN) its
proprietary lipid nanoparticle (LNP) technology for exclusive use
in one of Alexion’s rare disease programs. This transaction enables
Alexion to address delivery for therapeutic application of
messenger RNA (mRNA) and rapidly enter clinical development with
its mRNA product candidate.
Under the terms of the license agreement, Alexion
will pay Arbutus $7.5 million upfront, and payments of up to $75
million for achievement of development, regulatory, and commercial
milestones, as well as single digit royalties. In addition, Arbutus
will conduct technology development and provide manufacturing and
regulatory support for the rapid advancement of Alexion’s mRNA
product candidate.
"This agreement validates our leadership position
in LNP technology and underscores the value of this platform in
enabling RNA therapeutics. We are excited to be working with
Alexion to advance a treatment for rare disease," said Dr. Mark J.
Murray, Arbutus’ President and CEO. "Our core focus as a company
remains the cure of HBV. This transaction with Alexion
illustrates the value of our LNP platform, which has broad
potential to deliver mRNA and gene editing therapeutics. We are
receiving significant interest from companies that require access
to our LNP platform to enable their own development programs. Our
LNP expertise and intellectual property will contribute both near
and long term value to Arbutus.”
About Arbutus Biopharma
Arbutus Biopharma Corporation is a
biopharmaceutical company dedicated to discovering, developing and
commercializing a cure for patients suffering from chronic HBV
infection. Arbutus is headquartered in Vancouver, BC, and has
facilities in Doylestown, PA. For more information, visit
www.arbutusbio.com.
Forward-Looking Statements and
Information
This press release contains forward-looking
statements within the meaning of the Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934,
and forward looking information within the meaning of Canadian
securities laws (collectively, “forward-looking statements”).
Forward-looking statements in this press release include statements
about developing a cure for chronic hepatitis B virus (HBV)
infection; enabling Alexion to address novel delivery challenges
for their program; the terms of the licensing agreement between
Arbutus and Alexion, including expected payments and royalties; and
completing additional transactions to grant access to Arbutus’ LNP
expertise and intellectual property.
With respect to the forward-looking statements
contained in this press release, Arbutus has made numerous
assumptions regarding, among other things: the continued demand for
Arbutus’ assets; the ability for Alexion to meet milestones; and
the stability of economic and market conditions. While Arbutus
considers these assumptions to be reasonable, these assumptions are
inherently subject to significant business, economic, competitive,
market and social uncertainties and contingencies.
Additionally, there are known and unknown risk
factors which could cause Arbutus' actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements contained herein. Known risk factors
include, among others: Arbutus and Alexion may decide to amend the
terms of their agreement; Alexion may not meet its development,
regulatory, or commercial milestones; economic and market
conditions may worsen; and market shifts may require a change in
strategic focus.
A more complete discussion of the risks and
uncertainties facing Arbutus appears in Arbutus' Annual Report on
Form 10-K and Arbutus' continuous disclosure filings, which are
available at www.sedar.com and at www.sec.gov. All
forward-looking statements herein are qualified in their entirety
by this cautionary statement, and Arbutus disclaims any obligation
to revise or update any such forward-looking statements or to
publicly announce the result of any revisions to any of the
forward-looking statements contained herein to reflect future
results, events or developments, except as required by law.
Contact Information
Investors
Adam Cutler
Senior Vice President, Corporate Affairs
Phone: 604.419.3200
Email: acutler@arbutusbio.com
Media
David Schull
Russo Partners
Phone: 858.717.2310
Email: david.schull@russopartnersllc.com
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