STOCKHOLM, June 16, 2017 /PRNewswire/-- Cantargia AB ("Cantargia") of Lund, Sweden, and Panorama Research Inc. ("Panorama"), a California based specialist antibody developer, have entered into a collaboration agreement to jointly accelerate Cantargia's second program directed towards autoimmune and inflammatory diseases. Cantargia's proprietary antibodies, against the molecular target IL1RAP, will be affinity matured and humanized using Panorama's proprietary technology. In addition, Panorama will generate cell lines optimized for high level GMP production. Cantargia will be responsible for subsequent down-stream development. Under the terms of the agreement, Panorama will share risk in the project in exchange for a fraction of future incomes from third parties or future sales.
Cantargia has recently initiated a second project, CANxx, The purpose is to develop a therapeutic candidate blocking the activity of inflammatory cytokines, such as IL-33 or IL-36, through the molecular target IL1RAP. Cantargia will provide proprietary prototype antibodies, which will be further optimized to obtain desired properties. Panorama has significant and well-documented experience to optimize and humanize monoclonal antibodies and will invest in the project by contributing their knowledge and labour in exchange for a fraction of future revenue. In addition, Panorama will also develop a cell line for GMP production of the first product candidate identified. Cantargia will be responsible for preclinical and clinical development as well as for GMP production. Panorama's fraction of the project is defined in the contract and is proportional to the contribution along the project life span. Thereby Panorama is entitled to a single digit fraction of payments from potential future partners. Panorama's percentage will decrease as the project passes predefined development milestones.
"This partnership is of major importance for Cantargia, it means that our lead project CAN04 for cancer treatment as well as our second project CANxx, both are financed according to plan", Göran Forsberg, CEO of Cantargia, said. "The recognition from renowned Panorama demonstrates the interest from the international community in our assets. We look forward to continue the development of CANxx and foresee synergies between our organizations."
"There is a clear potential to use antibodies against the molecular target IL1RAP to treat a large number of serious diseases", said James W Larrick, CEO and founder of Panorama, "We are excited to be both a development partner and investor in this important program".
Panorama is a privately-owned biomedical research and development holding company. Panorama is based in a ~45,000 sq. ft. state-of-the art laboratory located in the heart of Silicon Valley California. Panorama has a staff of 20 medical scientists (15 with MD and/or PhD degrees) with life science expertise in medicinal chemistry, pharmacology, molecular biology and cell biology. Panorama has discovered and served as an incubator for a number of technologies and pharmaceutical projects that subsequently were licensed to development partners or incorporated into Panorama portfolio companies. For more information, see www.pano.com.
For further information, please contact
Göran Forsberg, CEO
This constitutes information that Cantargia is required to publish under the EU's Market Abuse Regulation. The information was submitted for publication through the above contact person on 16 June 2017, at 8.30am.
Cantargia AB (publ), reg.no. 556791-6019, is a biotech company that is developing an antibody-based cancer treatment, which aims to attack cancer cells and arrest the inflammation of the tumour. The original discovery by the research team behind Cantargia was the overexpression of a specific target molecule, interleukin 1 receptor accessory protein "IL1RAP", in cancer stem cells in patients with leukemia that is not found in normal stem cells in the bone marrow. In preclinical studies (in vitro and in vivo) the antibody, targeted at IL1RAP, has been shown to have two potential mechanisms of action, which are complementary. The Company has selected a product candidate, CAN04, for future studies in humans and development activities have been focused on non-small cell lung cancer and pancreatic cancer.
Cantargia is listed on Nasdaq Stockholm First North (ticker: CANTA). Sedermera Fondkommission is the company's Certified Adviser. More information about Cantargia is available at http://www.cantargia.com.
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