Avacta Group PLC - Expanded Partnership with Daewoong Pharmaceutical
Expansion of Partnership with Daewoong Pharmaceutical to Include COVID-19 Neutralising Affimer Therapy
Collaboration to develop stem cell therapies for COVID-19 and future pandemic diseases
Respiratory diseases such as COVID-19 can cause serious damage to the lungs as a consequence of over-activation of the patient's immune system, resulting in cytokine release syndrome that can potentially lead to multiple organ failure and death. Stem cell therapies offer a very promising approach to repair the damage to lung tissues in these pulmonary diseases by controlling the immune balance.
AffyXell Therapeutics, the next-generation cell and gene therapy joint venture between
The expansion of the agreement between
AffyXell will engineer mesenchymal stem cells to express SARS-COV-2 neutralising Affimer molecules in order to develop treatments for seriously ill COVID-19 patients, and will also prepare for rapid development of next-generation stem cell therapies for future infectious respiratory disease outbreaks.
"I am very pleased to have extended our collaboration and license agreement with Daewoong Pharmaceutical to include the SARS-COV-2 neutralising Affimer molecules for the treatment of COVID-19 and to create the potential to respond very rapidly in future to global virus threats.
AffyXell will address the need over the coming years for advanced stem cell therapies to treat lung damage caused by cytokine release syndrome suffered by COVID-19 patients and, at the same time, help prevent disease progression in these patients through the action of a neutralising Affimer therapy.
More broadly, one of the key areas of unmet clinical need that AffyXell can address with its next-generation mesenchymal stem cell therapies is acute pulmonary diseases such as COPD and acute respiratory distress syndrome. We, and our partners in
I look forward to further updating the market on progress in our ground-breaking programmes with AffyXell in due course, and on progress with our COVID-19 diagnostics programmes shortly."
Seng-ho Jeon, CEO of Daewoong Pharmaceutical and AffyXell Therapeutics, commented:
"It is very encouraging that AffyXell now has the opportunity to expand the application of its next-generation stem cell platform technology to target viruses. The SARS-COV-2 neutralising Affimer to be developed in combination with AffyXell's cell and gene technology is expected to be an innovative solution for COVID-19 patients suffering cytokine release syndrome.
Daewoong has been also conducting several research programs and clinical trial for COVID-19. As the COVID-19 crisis has caused great difficulties worldwide, we will continue to focus our efforts to develop a novel therapeutic agent for COVID-19."
This announcement contains information which, prior to its disclosure, was considered inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR).
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The Company benefits from near-term revenues generated from Affimer reagents for diagnostics, bioprocessing and research, through a separate business unit based in Wetherby,
The Affimer platform is an alternative to antibodies derived from a small human protein. Despite their shortcomings, antibodies currently dominate markets worth in excess of
By combining these two platforms the Company is building a wholly owned pipeline of novel cancer therapies with the aim of creating effective treatments for all cancer patients including those who do not respond to existing immunotherapies.
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About Daewoong Pharmaceutical - http://www.daewoong.com
Established in 1945, Daewoong Pharmaceutical Co., Ltd. is a leading South Korean pharmaceutical company that develops, manufactures, and commercializes pharmaceuticals for both domestic and international markets. With its strong and competent in-house R&D and qualified manufacturing facilities (cGMP), Daewoong provides a total healthcare solution to customers across the globe. Aiming to become a global healthcare company, Daewoong has broadened international operations by establishing branch offices and research centers throughout
This information is provided by RNS, the news service of the
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