US firm Cortendo has signed an exclusive licence agreement with Australia-based Antisense Therapeutics to develop and commercialise ATL1103 for endocrinology applications.
ATL1103 is an Antisense’s second-generation antisense drug that is being designed to block growth hormone receptor (GHr) expression to reduce levels of the hormone insulin-like growth factor-1 (IGF-1) in the blood.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
It is said to be a potential treatment for diseases associated with excessive growth hormone and IGF-1 action, including acromegaly, diabetic retinopathy and diabetic nephropathy.
Cortendo president and CEO Matthew Pauls said: "The opportunity to advance ATL1103, a novel second-generation antisense therapeutic with potential utility in acromegaly, nicely complements COR-003, our existing Phase III asset for Cushing’s syndrome, and builds upon our rare endocrine disease franchise."
As part of the deal, Cortendo will pay an initial upfront payment of $5m to Antisense, including $3m in cash and $2m as equity investment in Antisense.
The deal will also include additional payments of up to $105m based on achieving specific development and commercialisation milestones. In addition, Antisense will receive royalty payments based on sales achievement.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataCortendo will take the responsibility for the ongoing clinical development of ATL1103 in endocrinology applications, in addition to funding the associated future development, regulatory and drug manufacture costs.
The deal will allow Antisense to retain commercialisation rights for ATL1103 in endocrinology applications in Australia and New Zealand, as well as rights for other ATL1103 indications worldwide.
