Date: 2015-03-23
Type of information: Establishment of a new subsidiary in the US
Compound:
Company: Neovacs (France)
Therapeutic area: Autoimmune diseases
Type agreement: establishment of a new subsidiary in the US
Action mechanism:
Disease:
Details: * On March 23, 2015, Neovacs, a leader in active immunotherapies for the treatment of autoimmune diseases, announced the establishment of its wholly-owned U.S. subsidiary, Neovacs, Inc. Neovacs, Inc. is headquartered in Boston and has been incorporated in Delaware. The creation of this U.S. subsidiary marks an important strategic step for Neovacs, as the Company extends its clinical initiatives for lead product candidate, IFNα-Kinoid, beyond the EU to the U.S. market. The establishment of this subsidiary follows the formation of a U.S. Scientific Advisory Board in October 2013. Arlene Morris, Director of Neovacs and CEO of Syndax Pharmaceuticals, has been named Chairman of Neovacs, Inc. Miguel Sieler, current CEO of Neovacs will also hold the position of CEO of the subsidiary.
Neovacs plans to launch a phase IIa clinical trial of IFNα-Kinoid in systemic lupus erythematosus in early 2016. The Company is also planning to launch further U.S. trials of IFNα-Kinoid in dermatomyositis, an orphan skin and muscular disease, in the short-to-mid term.
The role of Neovacs, Inc. will be to raise the profile of Neovacs with the medical and financial communities in the U.S.. Neovacs, Inc. will work directly with the FDA as the Company prepares to initiate its planned lupus and dermatomyositis trials, including securing all
regulatory approvals and potential orphan drug status for IFNα-Kinoid in dermatomyositis. Additionally, Neovacs, Inc. will co-lead with Neovacs all U.S. clinical trials, in coordination with contractors and research centers, and strengthen also Neovacs’ engagement with American investors. Neovacs, Inc. will be located in Boston within the French Tech Hub.
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