Resverlogix and Medison Pharma Ltd. Announce Strategic Licensing Agreement
January 08 2018 - 8:57AM
Resverlogix Corp. ("Resverlogix" or the "Company") (TSX:RVX) today
announced that it has entered into a licensing agreement with
Medison Pharma Ltd. (“Medison”) for the Company’s lead therapeutic
candidate, apabetalone (RVX-208), in Israel and the Palestine
Authority. Apabetalone is currently in development for the
treatment of high-risk cardiovascular disease (CVD) in patients
with type 2 diabetes (T2D) and chronic kidney disease (CKD), and
potential expanded indications.
Under the terms of the agreement, Medison has
the exclusive rights to distribute and market apabetalone in
Israel. Resverlogix is eligible to receive from Medison, ascending
double digit royalties based on future net sales of the product in
the region. If certain sales milestones are reached total royalty
payments are estimated to potentially reach in excess of US$100
million over the entire patent life in the region. Medison
will be responsible for all regulatory, sales and marketing costs
for apabetalone in the Israel region.
“This partnership with Medison is an important
validation for our lead molecule apabetalone and our BET inhibition
technology,” stated Donald McCaffrey, President and CEO of
Resverlogix. “Patients in Israel have access to an innovative world
class health care system. Having Medison as a leading partner is
instrumental in the commercialization and marketing of apabetalone
for the many high-risk vascular disease patients in the Israel
national health system,” McCaffrey added.
“Apabetalone represents a potential new and
important therapeutic approach to risk reduction for areas of
critical unmet need in Israel such as CVD, diabetes, and CKD.
We look forward to the continued clinical success of apabetalone
and working with Resverlogix in fulfilling Medison’s vision to
provide innovative treatments to patients in Israel,” stated Meir
Jakobsohn, CEO and founder of Medison.
“Israel represents an important market for
medical innovation,” stated Kenneth Lebioda, Senior Vice President
of Business and Corporate Development at Resverlogix. ”We will
continue to work closely and strengthen our ongoing collaboration
with Medison to ensure successful regulatory approval and
commercialization of apabetalone in Israel,” Mr. Lebioda added.
About Medison
Medison is Israel’s leading marketing group,
representing innovative niche healthcare solutions to companies
such as Biogen, Amgen, Shire and Ipsen. Employing a comprehensive
approach to sales and service, Medison supplies and maintains
long-standing relations with HMOs (Health Maintenance
Organizations), local medical centers and physicians. Backed by
three generations of experience in the healthcare industry since
1937, Medison is uniquely qualified to provide the complete
spectrum of integrated services for international companies looking
to enter or expand their presence in the Israeli healthcare
market.
About Resverlogix
Resverlogix is developing apabetalone (RVX-208),
a first-in-class, small molecule that is a selective BET
(bromodomain and extra-terminal) inhibitor. BET bromodomain
inhibition is an epigenetic mechanism that can regulate
disease-causing genes. Apabetalone is the first and only BET
inhibitor selective for the second bromodomain (BD2) within the BET
protein called BRD4. This selective inhibition of apabetalone on
BD2 produces a specific set of biological effects with potentially
important benefits for patients with high-risk cardiovascular
disease (CVD), diabetes mellitus (DM), chronic kidney disease,
end-stage renal disease treated with hemodialysis,
neurodegenerative disease, Fabry disease, peripheral artery disease
and other orphan diseases, while maintaining a well described
safety profile. Apabetalone is the only selective BET bromodomain
inhibitor in human clinical trials. Apabetalone is currently being
studied in a Phase 3 trial, BETonMACE, in high-risk CVD patients
with type 2 DM and low high-density lipoprotein (HDL), and is
expected to be initiated in a Phase 2a kidney dialysis trial
designed to evaluate biomarker changes and safety parameters in up
to 30 patients with end-stage renal disease treated with
hemodialysis.
Resverlogix common shares trade on the Toronto
Stock Exchange (TSX:RVX).
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(https://twitter.com/resverlogix_rvx)
This news release may contain certain
forward-looking information as defined under applicable Canadian
securities legislation, that are not based on historical fact,
including without limitation statements containing the words
"believes", "anticipates", "plans", "intends", "will", "should",
"expects", "continue", "estimate", "forecasts" and other similar
expressions. In particular, this news release includes forward
looking information relating to estimated royalty payments pursuant
to the licensing agreement with Medison, the Company's Phase 3
clinical trial and the potential role of apabetalone in the
treatment of CVD, DM, chronic kidney disease, end-stage renal
disease treated with hemodialysis, neurodegenerative disease, Fabry
disease, peripheral artery disease and other Orphan diseases. Our
actual results, events or developments could be materially
different from those expressed or implied by these forward-looking
statements. We can give no assurance that any of the events or
expectations will occur or be realized. By their nature,
forward-looking statements are subject to numerous assumptions and
risk factors including those discussed in our Annual Information
Form and most recent MD&A which are incorporated herein by
reference and are available through SEDAR at www.sedar.com. The
forward-looking statements contained in this news release are
expressly qualified by this cautionary statement and are made as of
the date hereof. The Company disclaims any intention and has no
obligation or responsibility, except as required by law, to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
For further information, please
contact:
Investor RelationsEmail:
ir@resverlogix.comPhone: 403-254-9252Or visit our website:
www.resverlogix.com
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