Apeiron and GSK sign an exclusive license agreement for Apeiron's therapeutic enzyme project APN01

05-Feb-2010 - Austria

Apeiron Biologics AG announced the signing of an agreement granting GlaxoSmithKline (GSK) exclusive rights to APN01 (recombinant human Angiotensin Converting Enzyme 2, rhACE2), an enzyme biotherapeutic currently in Phase 1 development for the treatment of the Acute Respiratory Distress Syndrome (ARDS).

Under the terms of the agreement, the total milestone payments could reach £ 207 million (approx. EUR 239 million) in the event of launch in multiple indications. Apeiron will receive an up-front payment of £ 11 million (approx. EUR 12.7 million) in cash and equity investment and will receive royalties on net sales.

Commenting on the agreement, the founder of Apeiron, Josef Penninger, stated: "When I returned to Austria after several years of basic research in North America, I had the vision of translating some of my research, including that for ACE2, into clinically useful and commercially viable products. For this purpose I founded Apeiron and was able to attract excellent management. I am impressed to see how quickly and successfully the basic idea was translated into a clinical project with such promising perspectives. GSK is a most welcome partner for further development."

Hans Loibner, CEO of Apeiron, added: "We are very pleased that we could attract GSK, one of the world's top pharmaceutical companies, to license this exciting project. I am convinced that Apeiron's know-how in this area, together with the extensive development and marketing capabilities of GSK, are the best way forward to bring an innovative therapy to patients worldwide."

https://www.bionity.com/en/news/112821/apeiron-and-gsk-sign-an-exclusive-license-agreement-for-apeiron-s-therapeutic-enzyme-project-apn01.html