Reinach, Switzerland, 7 October 2013 – Evolva Holding SA (SIX: EVE) and Serodus ASA (Oslo, Norway) today announced that they have signed a binding term sheet for the clinical development of EV-077, Evolva’s compound targeted at diabetic nephropathy (progressive kidney disease caused by diabetes). The parties aim to sign a full license agreement no later than 31 December 2013 allowing Serodus to initiate the next clinical study on EV-077 in the second quarter of 2014.
Pre-clinical and initial clinical studies conducted by Evolva have indicated that EV-077 can reduce vascular inflammation which causes damage to the kidneys – in particular in patients with diabetes. Due to Evolva’s focus on ingredients for health, wellness and nutrition EV-077 is a legacy asset. Hence the out-licensing fulfills the Company’s goal of finding a suitable partner to advance it to the next stage of clinical trials.
Serodus aims to bring EV-077 further through clinical development and at a future time point decide whether Serodus or a partner will conduct the final clinical trials.
Evolva will be entitled to licensing payments including clinical and regulatory milestones as well as a single-digit royalty on sales. If Serodus at a later stage out-licenses the compound, Evolva will receive up to 30% of Serodus’ total licensing income. The aggregate revenues to Evolva through patent expiry may amount to three-digit million Euro subject to the progress of the compound.
Eva Steiness, CEO of Serodus: “We are excited about the opportunity of moving EV-077 forward in clinical development to address unmet patient needs. EV-077 fits very well with our focus on the development of drugs for various cardiovascular indications.”
Neil Goldsmith, CEO of Evolva: “We are pleased that EV-077 will now be brought forward by Serodus. Although Serodus is a relatively young company, its management team, and in particular Eva Steiness, has a strong and successful track record in development of pharmaceutical products which are on today’s market.”
Serodus is a Norwegian biopharma company which focuses on drug development in the cardio-vascular therapeutic field. One compound, SER100, is being developed for the treatment of Isolated Systolic Hypertension, a condition which is responsible for about 50% of all strokes and heart attacks. Serodus is about to initiate the first clinical trial in therapy resistant patients with Isolated Systolic Hypertension. After the acquisition of Phlogo ApS earlier this year Serodus got the drug candidate SER130 for Heart Attack (Acute Myocardial Infarction) and SER140 for type 2 diabetes.
Evolva is a pioneer and global leader in sustainable, fermentation-based approaches to ingredients for health, wellness and nutrition. Evolva’s products include stevia, vanilla, saffron and resveratrol. As well as developing its own proprietary ingredients, Evolva also deploys its technology for partners, providing them with a competitive edge and sharing in the returns they make. For more information see www.evolva.com.
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