Probiodrug and Crossbeta Biosciences enter into a strategic partnership in the field of Alzheimer's disease biomarkers
License and supply agreement is based on Crossbeta's proprietary technology and supports Probiodrug's biomarker development activities
HALLE (SAALE), Germany, UTRECHT, The Netherlands, 30 June 2016 - Probiodrug AG (Euronext Amsterdam: PBD), a biopharmaceutical company developing novel therapeutic solutions to treat Alzheimer's disease (AD), announced today an agreement with the Dutch biotech company Crossbeta Biosciences B.V. in order to utilize Crossbeta's proprietary technology in support of Probiodrug's biomarker development activities.
AD, the most common form of dementia affecting 26 million people worldwide, is characterized by misfolded beta-amyloid and tau proteins. The oligomeric forms of these proteins play a pivotal role in the patho-physiology of the disease.
Oligomer-specific research and development of therapeutics, biomarkers and diagnostics is very challenging due to the inherent instability of these protein aggregates. Crossbeta's proprietary stabilization technology generates pure and functional preparations of oligomeric protein species and thereby overcomes this problem, enabling highly reproducible and well-controlled assays for pre-clinical and clinical R&D.
Inge Lues, Chief Development Officer of Probiodrug, commented: "We are very pleased to announce the collaboration with Crossbeta. The potential of Crossbeta's unique technology has significant impact to overcome the challenge of establishing and validating sensitive and specific assays for Abeta- and pGlu-Abeta-oligomers to be used in the clinical studies of Probiodrug's lead candidate, Glutaminyl Cyclase (QC) inhibitor PQ912. "
Guus Scheefhals, Chief Executive Officer of Crossbeta, added: "This strategic partnership with Probiodrug is very exciting and an important recognition of our expertise and capabilities. As a clinical-stage company, Probiodrug is a particularly important partner in our growing collaborative network. We look forward to contributing towards the development of this promising therapeutic approach targeting AD."
###
For more information, please contact:
Probiodrug
Dr Konrad Glund, CEO
Email: contact@probiodrug.de
Hume Brophy
Supriya Mathur, Eva Haas, Alexia Faure
Tel: +44 (0) 20 7862 6475
Email: probiodrug@humebrophy.com
The Trout Group
Tricia Truehart
Tel: +1 (646) 378-2953
Email: ttruehart@troutgroup.com
Crossbeta Biosciences BV
Guus Scheefhals, CEO
Phone: +31 30 253 2668
Email: g.scheefhals@crossbeta.com
Notes to Editors:
About Probiodrug AG
Headquartered in Halle (Saale), Germany, Probiodrug AG (Euronext Amsterdam: PBD) is a biopharmaceutical company focused on the development of new therapeutic products for the treatment of Alzheimer's disease.
Founded in 1997, the company successfully developed a novel therapeutic concept for diabetes - the DP4 inhibitors - which provided the basis for a novel class of antidiabetics - the gliptins. Its core capabilities are based on its long-standing expertise in the elucidation of the structure and function of enzymes involved in the modification of proteins and peptides, which play a central role in pathological conditions.
Today Probiodrug's aim is to become a leading company in the development of Alzheimer's disease treatments and to thereby provide a better life for Alzheimer's disease patients. It has identified a new therapeutic concept linked to disease initiation and progression. The development approaches are targeting pyroglutamate-Abeta (pGlu-Abeta) as a therapeutic strategy to fight Alzheimer's disease. The Company has medical use and composition of matter patents related to the inhibition of Glutaminyl Cyclase (QC) and anti-pGlu-Abeta- specific monoclonal antibodies, providing it, in the Company's view, with a leading position in this field of research.
Probiodrug's lead product candidate, PQ912, is a highly specific and potent inhibitor of Glutaminyl Cyclase (QC), which has shown therapeutic effects in Alzheimer's animal models. PQ912 is currently in a Phase 2a study, the SAPHIR trial. In a preceding Phase 1 study with healthy young and elderly volunteers, PQ912 has shown to be safe and well tolerated and also revealed high QC-inhibition.
About Crossbeta Biosciences
Crossbeta Biosciences is a biotech company with a proprietary technology for efficient oligomer-based drug discovery, with applications in Alzheimer's, Parkinson's, ALS and Huntington's disease. Crossbeta's technology allows the unprecedented generation of well-defined stable, pathobiologically functional, oligomers. Crossbeta's oligomers have enabled the development of robust assays allowing fast, de-risked compound screening and characterization. The unique capabilities of Crossbeta's technology have been demonstrated in a therapeutic Alzheimer's disease program by successfully identifying compounds that neutralize oligomer toxicity in vitro and in vivo.
Crossbeta offers its proprietary technology for strategic collaborative partnerships aimed at developing new oligomer targets and related screening assays and for therapeutic and diagnostic/biomarker assay development programs.
About Alzheimer's disease
Alzheimer's disease is a neurological disorder, which is the most common form of dementia, and ultimately leads to death. Because Alzheimer's disease cannot be cured and is degenerative, the affected patients must increasingly rely on others for assistance. Today, over 46 million people worldwide currently live with the condition and this number is expected to increase to 132 million by 2050. Alzheimer's also has an estimated, global societal cost of US$ 818 billion (World Alzheimer Report 2015).
Forward Looking Statements
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgment of Probiodrug AG as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.