Date: 2013-10-07
Type of information: Development agreement
Compound: EV-077
Company: Evolva (Switzerland) Serodus (Norway)
Therapeutic area: Metabolic diseases
Type agreement: development
licensing
Action mechanism: EV-077 is an oral thromboxane receptor antagonist and thromboxane synthase inhibitor and belongs to a new structural class. Preclinical and early clinical studies indicate the compound has potential as an inhibitor of the effect of isoprostanes and prostanoids on the thromboxane prostanoid receptor.
Disease: diabetic nephropathy
Details:
* On December 30, 2013, Evolva and Serodus have announced that they have signed a final licensing agreement for EV-077, Evolva’s compound targeted at diabetic nephropathy (progressive kidney disease caused by diabetes). A binding term sheet for this transaction was signed by both parties in October of this year (see below). Serodus aims to bring EV-077 further through clinical development and at a future time point decide whether Serodus or a partner will conduct the final clinical trials. Evolva will be entitled to licensing payments including clinical and regulatory milestones as well as a single-digit royalty on sales. If Serodus at a later stage out-licenses the compound, Evolva will receive up to 30% of Serodus’ total licensing income.
* On October 7, 2013, Evolva and Serodus, a Norwegian biopharma company which focuses on drug development in the cardio-vascular therapeutic field, have announced that they have signed a binding term sheet for the clinical development of EV-077, Evolva’s compound targeted at diabetic nephropathy (progressive kidney disease caused by diabetes). The parties aim to sign a full license agreement no later than 31 December 2013 allowing Serodus to initiate the next clinical study on EV-077 in the second quarter of 2014.
Pre-clinical and initial clinical studies conducted by Evolva have indicated that EV-077 can reduce vascular inflammation which causes damage to the kidneys – in particular in patients with diabetes. Due to Evolva’s focus on ingredients for health, wellness and nutrition EV-077 is a legacy asset. Hence the out-licensing fulfills the Company’s goal of finding a suitable partner to advance it to the next stage of clinical trials.
Serodus aims to bring EV-077 further through clinical development and at a future time point decide whether Serodus or a partner will conduct the final clinical trials.
Financial terms: Evolva will be entitled to licensing payments including clinical and regulatory milestones as well as a single-digit royalty on sales. If Serodus at a later stage out-licenses the compound, Evolva will receive up to 30% of Serodus’ total licensing income. The aggregate revenues to Evolva through patent expiry may amount to three-digit million Euro subject to the progress of the compound.
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