A licensing deal for a potential treatment for ALS
singed last week gives a boost to
Amorfix Life Sciences' quest to develop diagnostics and treatments for such diseases as ALS, Alzheimer's and cancer, according to Amorfix CEO Dr. Robert Gundel.
The deal gives global biotech giant
Biogen Idec the right to, at its own expense, pursue testing and regulatory approvals for antibodies developed by Amorfix to treat ALS. The Mississauga-based Amorfix gets $1 million up front, as well as potential milestone payments and royalties in the future. "This is excellent news for us because the deal represents the best way forward for developing this treatment," Gundel says. He added that the cash and the commitment by Biogen frees up Amorfix's staff of 16 to pursue other applications of their innovative health sciences technologies.
The company was founded in 2004 by Dr. Neil Cashman, and has an exclusive license on a technology called ProMIS. This innovative computer algorythm maps "misfolded proteins" that are characteristic of such diseases as ALS, Alzheimer's and cancer and identifies specific areas on the misfolded protein which can serve as targets for novel therapeutic intervention. Originally the process was used to develop diagnostic tools, but recently Amorfix has expanded its development into antibodies and vaccines that can attack only misfolded proteins cells (unlike conventional treatments for cancer, for example, which are not specific for tumor cells and have adverse side effects which may threaten the health of patients by attacking all cells in an area). These antibodies hold the potential to cease the progress of and cure the diseases.
Gundel says that licensing agreements with much larger companies such as Biogen Idec are part of the business plan for Amorfix. He says that "realistically" the company's products could bring effective vaccines and cures for such diseases to market within eight to 10 years.
Writer: Edward Keenan
Source: Dr. Robert Gundel, CEO, Amorfix Life Sciences
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