Probiodrug reports Third Quarter 2017 Business Update
Probiodrug to attend and present at international conferences in January 2018
HALLE (SAALE), Germany, UTRECHT, The Netherlands, 5 December 2017 – Probiodrug AG (Euronext Amsterdam: PBD), a biopharmaceutical company developing novel therapeutic solutions to treat Alzheimer’s disease (AD), and the Dutch biotech company Crossbeta Biosciences B.V., announced today that they have extended their strategic partnership regarding the use of Crossbeta’s proprietary technology for biomarker development, in support of Probiodrug’s clinical program in Alzheimer’s disease.
The companies first established the partnership in 2016. Since then, the very challenging program, focused on oligomer-specific biomarker assays and diagnostics, has made excellent progress and has successfully met all critical milestones. By leveraging the pivotal role of protein oligomers in AD pathology, the partners are aiming to develop a truly disease-specific AD biomarker and diagnostic with prognostic clinical value.
Inge Lues, Chief Development Officer of Probiodrug, commented: “Our partnership with Crossbeta has granted us access to a truly unique technology which has proven to be crucially important for the development of high-quality biomarker assays, with adequate sensitivity and specificity to support and further the clinical program of Probiodrug’s QC inhibitor PQ912.”
Guus Scheefhals, Chief Executive Officer of Crossbeta, added: “We are very pleased about the extension of our partnership with Probiodrug. It is an honor being able to contribute to Probiodrug’s exciting and encouraging therapeutic program in AD with our proprietary technology. In case of successful achievement of our goals, not only many other scientists and companies will benefit from the availability of this novel, prognostic biomarker and diagnostic, but it will bring urgently needed benefit to AD patients.”
For more information please contact:
Dr Konrad Glund, CEO
Optimum Strategic Communications
Mary Clark, Supriya Mathur, Hollie Vile
Tel: +44 (0) 203 714 1787
The Trout Group
Tel: +1 (646) 378-2953
MC Services AG
Anne Hennecke, Caroline Bergmann
Tel: +49 (0) 211 529 252 20
Crossbeta Biosciences BV
Guus Scheefhals, CEO
Phone: +31 30 760 1262
Notes to Editors:
About Probiodrug AG
Headquartered in Halle (Saale), Germany, Probiodrug AG (Euronext Amsterdam: PBD) is a biopharmaceutical company focused on the development of new therapeutic products for the treatment of Alzheimer’s disease (AD). Probiodrug has identified a new therapeutic concept linked to disease initiation and progression. The development approaches are targeting a key neuro/synaptotoxic component of the pathology, pyroglutamate-Abeta (pGlu-Abeta, N3pG) as a therapeutic strategy.
Probiodrug’s lead product candidate, PQ912, is a highly specific and potent inhibitor of Glutaminyl Cyclase (QC), the enzyme catalyzing the formation of synaptotoxic pGlu-Abeta. PQ912 has shown therapeutic effects in AD animal models. A Phase 1 study in healthy young and elderly volunteers revealed a dose dependent exposure and showed good safety and tolerability up to the highest dose with >90% target occupancy in the spinal fluid. In June 2017, Probiodrug announced top-line data of the Phase 2a SAPHIR trial of PQ912 and presented the study results at CTAD 2017. The positive effects seen on secondary exploratory efficacy markers are strongly supporting (a) the hypothesis of pGlu-Abeta being synaptotoxic and (b) the therapeutic concept pursued by Probiodrug. The study revealed a positive benefit risk ratio of PQ912 and provides important guidance how to move forward in the development of PQ912 as a disease-modifying drug for AD. Altogether, the results make the program highly attractive for further development; the company has initiated the preparation of a Phase 2b core program.
Probiodrug is developing PBD-C06, an anti-pGlu-Abeta-specific monoclonal antibody, complementary to the small molecule PQ912. The Company has medical use and composition of matter patents related to the inhibition of QC and anti-pGlu-Abeta-specific monoclonal antibodies, and has, in the Company’s view, a leading position in this field of research.
Founded in 1997 by Hans-Ulrich Demuth and Konrad Glund, the company successfully developed a novel therapeutic concept for diabetes – the DP4 inhibitors – which provided the basis for a novel class of antidiabetics – the gliptins. Today, Probiodrug aims to become a leading company in the development of AD treatments and to thereby provide a better life for Alzheimer’s disease patients.
About Crossbeta Biosciences
Crossbeta Biosciences is a biotech company with a proprietary technology for efficient oligomer-based drug discovery, with applications in Alzheimer’s, Parkinson’s, ALS and Huntington’s disease. Crossbeta’s technology allows the unprecedented generation of well-defined stable, pathobiologically functional, oligomers. Crossbeta’s oligomers have enabled the development of robust assays allowing fast, de-risked compound screening and characterization. The unique capabilities of Crossbeta’s technology have been demonstrated in a therapeutic Alzheimer’s disease program by successfully identifying compounds that neutralize oligomer toxicity in vitro and in vivo.
Crossbeta offers its proprietary technology for strategic collaborative partnerships aimed at developing new oligomer targets and related screening assays and for therapeutic and diagnostic/biomarker assay development programs.
About Alzheimer’s disease
Alzheimer’s disease is a neurological disorder, which is the most common form of dementia, and ultimately leads to death. Because Alzheimer’s disease cannot be cured and is degenerative, the affected patients must increasingly rely on others for assistance. Today, 47 million people live with dementia worldwide, and this number is projected to treble to more than 131 million by 2050, as the global population ages. Dementia also has a huge economic impact. Alzheimer’s has an estimated, global societal cost of US$ 818 billion, and it will become a trillion dollar disease by 2018. (World Alzheimer Report 2016).
Forward Looking Statements
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgment of Probiodrug AG as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.