Antisense Therapeutics signs agreement to develop multiple sclerosis drug with Chinese agency 

(MENAFN - ProactiveInvestors - Australia) Antisense Therapeutics (ASX: ANP) has executed a Strategic Alliance and License Agreement to further develop and commercialise the company's drug ATL1102 with the Tianjin International Joint Academy of Biotechnology and Medicine (TJAB).

TJAB was established as part of an initiative of the Chinese Government and State Food and Drug Administration to accelerate economic growth and develop the country's biotech industry.

Potential applications for ATL1102 include the areas of multiple sclerosis, stem cell mobilisation and asthma.

With the alliance and agreement now executed between the parties, and based on successful study outcomes, TJAB will be responsible for commercialisation of ATL1102 in China and Hong Kong - with Antisense to look after the process in all other countries.

The joint venture still requires the completion of a Shareholders' Agreement whereby the joint venture company is to be set up in Hong Kong with the issued share capital 51% TJAB and 49% Antisense, which reflects TJAB's and its investment partners' financial contribution.


ATL1102's next steps

Initial development activities will look at accessing ATL1102's raw material and formulating this material into injectable product for use in a planned chronic toxicology study in one species, which will support the conduct of a Phase IIb study in multiple sclerosis patients.

Other development activities proposed include a first in man stem cell mobilisation study and a potential Phase II study in asthma patients.