Three-Year Collaboration to look for Novel Cancer Treatments
TSX Venture Exchange: ARI
TORONTO, April 3 /CNW/ - ARIUS Research Inc. (TSX-V: ARI) and Takeda
Pharmaceutical Company Limited (Takeda) have entered into a three-year,
multi-product collaboration using ARIUS' FunctionFIRST(TM) Platform to
discover novel treatments for human disease.
Under the terms of the agreement, ARIUS will receive an upfront
technology access fee of US$2.0 million, consisting of US$1.0 million each in
cash and equity investment respectively, and research funding for the
three years. ARIUS will also be entitled to milestone payments based on
progress through clinical development plus royalties on net sales for any
licensed product. Takeda will assume the responsibility and costs of
development and commercialization while ARIUS will have an option to
co-develop any product. Further financial terms were not disclosed.
Within thirty days of closing, ARIUS will complete a private placement
with Takeda in which ARIUS will issue 614,737 common shares at a price of
CDN$1.90 each, based on the prevailing exchange rate of
US$1.00 (equal sign) CDN$1.1680 on March 31, 2006, subject to applicable
regulatory and Exchange approvals. Following completion of the private
placement, ARIUS will have a total of 43,660,331 common shares issued and
outstanding.
The ARIUS business model uses the FunctionFIRST(TM) platform for
discovery and development collaborations. The platform has generated over
350 antibodies for the ARIUS library which are being pursued for internal
development and partnership deals. Antibodies discovered through ARIUS'
proprietary technology have demonstrated anti-tumor activity in animal models
of a number of human cancers and have been shown to recognize important cancer
targets.
"Takeda has committed extensive scientific and development resources to
antibodies for cancer and we are excited by the opportunity to work together
to bring our products forward," said Dr. David Young, President of Arius
Research Inc. "A discovery partnership with Takeda will help us exploit our
technology and achieve secure research funding and support from a premier
pharmaceutical company."
"We expect that the unique approach of Arius, which is to select the
functional antibodies first, will lead to an improved success ratio of
developing therapeutic antibodies for a variety of cancers," said
Shigenori Ohkawa, PhD, General Manager of Pharmaceutical Research Division of
Takeda. "We believe that this joint research Collaboration with Arius will
contribute to enhancing our cancer franchise as one of our core therapeutic
areas for future growth."
Cancer affects approximately 1.4 million new patients each year in North
America. ARIUS is researching treatments for the most common cancers and those
with significant unmet medical need.
About ARIUS
ARIUS Research Inc. is a biotechnology company dedicated to personalizing
cancer therapy through the discovery and development of novel anticancer
monoclonal antibodies (MAbs). Established in 1999, ARIUS has built a
proprietary technology platform, FunctionFIRST(TM), that rapidly identifies
powerful MAbs targeting a variety of cancer indications. This antibody
generation engine has enabled ARIUS to assemble a growing pipeline, which is
used for commercial collaborations and in-house development. ARIUS has ongoing
partnerships with key biotechnology and drug development companies. The
company is listed on the TSX Venture Exchange under the symbol "ARI".
About Takeda
Takeda is a research-based global company with its main focus on
pharmaceuticals. As the largest pharmaceutical company in Japan and one of the
industry's leaders worldwide, Takeda is committed to strive toward better
health for individuals and progress in medicine by developing superior
pharmaceutical products. Takeda is actively dedicated to enhance its pipeline
for future growth through alliance as well as in-house R&D activities. For
more information on Takeda, please visit the company's web site at
www.takeda.com.
Forward-Looking Statement
Certain statements in this news release constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995, which involve known and unknown risks, uncertainties and other
factors that may cause our actual results to be materially different from any
future results, performance or achievements expressed or implied by such
statements. Forward-looking statements in this release include, but are not
limited to, ARIUS successfully advancing its new product programs as well as
licensing opportunities. These statements are only predictions and actual
events or results may differ materially. Factors that could cause such actual
events or results expressed or implied by such forward-looking statements to
differ materially from any future results expressed or implied by such
statements include, but are not limited to: early stage of development;
technology and product development; dependence on and management of current
and future corporate collaborations; future capital needs; uncertainty of
additional funding; no assurance of market acceptance; dependence on
proprietary technology and uncertainty of patent protection; intense
competition; manufacturing and market uncertainties; and government
regulation. These and other factors are described in detail in the Company's
Annual Report, forthcoming news releases and other filings with Canadian
securities regulatory authorities available at www.sedar.com. Forward-looking
statements are based on our current expectations and ARIUS is not obligated to
update such information to reflect later events or developments.
Internet website: www.ariusresearch.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this statement.
