CuraGen Corporation and TopoTarget, have granted a license PXD118490, a preclinical HDAC inhibitor, to Leo Pharma, one of the world's leading companies in dermatology. Leo Pharma was granted exclusive worldwide rights to develop, manufacture, and commercialize this novel preclinical HDAC inhibitor for the treatment of psoriasis and other dermatological disorders.
Under the terms of the agreement between TopoTarget and Leo Pharma, TopoTarget will receive initial payments totaling 2,000,000 euros (approximately US$2.6 million). In addition, TopoTarget is eligible to receive additional milestone payments of up to 32,000,000 euros (approximately US$40.8 million), and tiered royalties on any future product sales. Under the terms of the existing agreement between CuraGen and TopoTarget, CuraGen will receive 50 per cent of all payments received by TopoTarget under the licensing agreement between TopoTarget and Leo Pharma.
"This partnership with Leo Pharma highlights the potential of HDAC inhibitors in a number of different therapeutic areas, and highlights CuraGen's commitment to realize value from its assets while maintaining its focus on becoming a leading oncology company," commented Dr. Frank Armstrong, president and chief executive officer of CuraGen Corporation.
"Licensing of this compound to Leo Pharma represents yet another important milestone for TopoTarget in 2006, a year in which our first product, Savene was launched. LEO Pharma is one of the world's leading companies in dermatology and has been a very strong player in the field for decades. We feel comfortable with having the development of PXD118490 (LEO80140) for dermatological disorders in the hands of Leo. We are very content with the ongoing collaboration with CuraGen to further develop our library of preclinical HDAC inhibitors and we believe it has shown to be very productive," said Dr. Peter Buhl Jensen, chief executive officer of TopoTarget.
"Leo Pharma very much welcomes this opportunity to partner with TopoTarget and CuraGen on the use of HDAC inhibitors as a potential treatment for psoriasis since this fits well with the ambition of LEO Pharma to become the world leading company in the area of dermatology," said Ernst Lunding, chief executive officer of Leo Pharma.
A research collaboration between TopoTarget, CuraGen and Leo Pharma has resulted in the selection of this out-licensed preclinical compound, which has been extensively characterized by the parties in biochemical and cell assays, as well as in animal models of psoriasis. In addition to its biological activity, the compound possesses excellent drug-like characteristics that are important for future clinical development. The compound was developed under an ongoing future products program between CuraGen and TopoTarget aimed at identifying promising HDAC inhibitors, it work by altering levels of gene transcription and have been shown to regulate multiple key processes involved in cancer and inflammatory diseases, as well as other indications. Accordingly, there are a number of skin disorders that could potentially benefit from this promising preclinical compound.