RhuDex® successfully concludes Phase I clinical trials
Avidex will now be starting a dose-escalating, double blind pilot phase I/II study in rheumatoid arthritis (RA) patients. The study is designed to investigate safety, pharmacokinetics and drug interactions in patients and is expected to start recruitment beginning in mid 2006.
For Active Biotech, the agreement with Avidex entailed an initial payment in 2002 and eligibility for milestone payments totaling up to GBP 5.8 M and royalties on future sales. Active Biotech received a milestone payment from Avidex when the Phase I study was initiated first half 2005.
Lund 9 March, 2006
Active Biotech AB (publ)
President & CEO
Active Biotech AB is a biotechnology company focusing on research and development of pharmaceuticals. Active Biotech has a strong R&D portfolio with pipeline products focused on autoimmune/inflammatory diseases and cancer. Most advanced projects are laquinimod, an orally administered small molecule with unique immunomodulatory properties for the treatment of multiple sclerosis, as well as ANYARA for use in cancer immunotherapy with the primary indication non-small cell lung cancer. Further key projects in clinical development comprise the three orally administered compounds TASQ for prostate cancer 57-57 for SLE and RhuDex®.
Active Biotech AB
P.O. Box 724, SE-220 07 Lund, Sweden
Tel: +46 (0)46-19 20 00
Fax: +46 (0)46-19 20 50
Avidex is a biotechnology company focused on the development of small molecule and protein therapeutics involving T cell receptors - either as drug targets or as the therapeutic molecule. Avidex has two key programmes leading to novel treatments in cancer, inflammation and autoimmune diseases. Its breakthrough monoclonal T cell receptor (mTCR) technology enables the production of fully human, soluble T cell receptors. These mTCRs can deliver immunological effector molecules to cancer cells, and can block activation of T cells in autoimmune disease.
Avidex was formed in 1999 as a spin out from Oxford University. The Company employs 39 staff and is based in Milton Park, near Oxford, UK. The Company has raised over £35 million to date, and investors include Advent Venture Partners, Oxford Technology Venture Capital Trust plc, Quester and Syngenta.