Date: 2017-09-12
Type of information: Establishment of a new subsidiary in the EU
Compound: therapeutics for beta amyloid related disorders
Company: ProQR Therapeutics (The Netherlands) Amylon Therapeutics (The Netherlands)
Therapeutic area: CNS diseases - Neurological diseases - Neurodegenerative diseases
Type agreement: establishment of a new subsidiary in the EU
Action mechanism:
Disease: beta amyloid related disorders
Details:
- • On September 12, 2017, ProQR spins out CNS-focused company, Amylon Therapeutics, with seed funding from a group of institutional and private investors. As part of the transaction, ProQR has granted an exclusive license to Amylon to develop therapeutics for beta amyloid related disorders and will be entitled to future milestones and royalties from the products developed.
- Amylon will initially focus on developing a RNA-based therapy for a rare genetic disease which leads to strokes at mid-adulthood, called HCHWA-D. A future beta amyloid related indication could include cerebral amyloid angiopathy or CAA.
- ProQR retains majority ownership in Amylon and is entitled to future milestones and royalties from the products developed by Amylon on the terms and conditions set forth in the license.
- Amylon will be led by Thomas de Vlaam as founding CEO, who holds a bachelor’s degree in international medicine and global health. Thomas joined ProQR in 2015 to incubate the CNS activities, with the goal of spinning it out into a new company. On behalf of ProQR, Dinko Valerio, the Chairman of the Supervisory board of ProQR, will join the Supervisory board of Amylon and Gerard Platenburg, Chief Innovation Officer of ProQR, will join the scientific advisory board of Amylon.
- The scientific advisory board at Amylon will consist of the following members:
- Thomas Wisniewski MD, Lulu P. and David J. Levidow Professor of Neurology, Pathology and Psychiatry at the New York University School of Medicine.
- Philip Scheltens MD, Professor of Neurology and Director of Alzheimer Center at the VU University Medical Center Amsterdam.
- Gerard Platenburg, Co-founder and Chief Innovation Officer of ProQR.
Financial terms:
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