Algeta initiates new oncology research program to evaluate the potential of a Targeted Thorium Conjugate (TTC) based on

Algeta initiates new oncology research program to evaluate the potential of a 
Targeted Thorium Conjugate (TTC) based on
Immunomedics' anti-CD22 monoclonal antibody 
OSLO, NORWAY -- (Marketwire) -- 01/28/13 --  
CD22 is a well-validated target for hematological cancers 
Algeta  ASA (OSE: ALGETA) has initiated a new research  program  to 
evaluate  a  novel  Targeted Thorium Conjugate (TTC) that
combines 
Algeta's proprietary thorium-227 alpha-pharmaceutical  payload with
an anti-CD22  monoclonal  antibody  (epratuzumab)  developed  by
Immunomedics, Inc.
(NASDAQ: IMMU). 
Epratuzumab  is a  humanised monoclonal  antibody (mAb)  that binds 
to the CD22
glycoprotein  on the surface of B cells.  Epratuzumab has
been evaluated for the treatment of a variety of hematological
cancers and for autoimmune diseases such
as systemic lupus
erythematosus (SLE). 
Under  the  terms  of  this  agreement, Immunomedics will provide
clinical-grade antibody to Algeta, which has rights to evaluate the
potential of a TTC, linking thorium-227 to  epratuzumab, for the 
treatment of cancer.  Algeta will fund all preclinical  and clinical
development  costs up to  the end of  phase I testing.
Upon
successful completion of phase I testing, the parties shall negotiate
terms
for  a license  at Algeta's  request according  to certain
parameters now agreed
between  the companies. Payments  in the first 
year from Algeta to Immunomedics
include  a signature fee,  an
antibody delivery  milestone and payments for cGMP
antibody
manufacture. No further details of the agreement are disclosed. 
Thomas Ramdahl, Executive Vice President and Chief Technology Officer
of Algeta,
said:  "The  broad  utility  of  our  proprietary 
thorium-227 payload  and its
potential  to be more  effective at
killing  cancer cells than other therapeutic
payloads  gives Algeta 
a great  opportunity to  build an  extensive pipeline of targeted
cancer therapies. This collaboration brings together Algeta, the
global
leader in alpha-pharmaceuticals and Immunomedics, a pioneer in
antibody products
and  technologies. A TTC based on  a well-validated
antibody such as epratuzumab
is  an exciting prospect as we work to
achieve our goal of generating a clinical
candidate from the TTC
platform in 2014". 
Algeta's  TTC strat
egy is  based on gaining  access to carefully
selected tumor-targeting  molecules, via in-licensing, collaboration
or via  third parties, to which it links thorium-227 thereby creating
potential new therapeutics. Algeta's
disclosed  TTC programs include
collaborations  with Sanofi and Ablynx, programs
based  on
HER2-targeting (breast/ovarian cancer) and PDGFR-beta-targeting
(anti-angiogenesis)  molecules in-licensed  from Affibody  and two 
programs targeting hematological cancers, including this newly
announced program. 
About Algeta's TTC Platform 
Algeta is evaluating the potential utility of alpha-particle emitting
elements
in the treatment of cancer. Previous studies[1] have
indicated that such elements may have value in treating cancers by
causing double-strand DNA breaks
that trigger cell death, and have
also shown that the effects of alpha-emission are highly localized as
a result of the very short range of the alpha particle (2-10 cell
diameters). Thorium-227 is one alpha-particle emitting element
(radionuclide) that has been selected by Algeta for further
investigation. By
linking thorium-227 to cancer-targeting molecules
such as monoclonal antibodies,
Algeta believes it may be possible to
develop a pipeline of targeted alpha-pharmaceuticals, termed Targeted
Thorium Conjugates, or TTCs. The TTC platform is at an early research
phase in development. Algeta intends to evaluate TTCs in a broad
range of cancer types to determine whether the TTC platform could
offer
advantages over naked (un-armed) antibodies or antibody-drug
conjugate technologies that use cytotoxic drugs (rather than
alpha-emitting elements) as
payloads. Such advantages may include
increased potency, a more localized tumoricidal effect and the
potential to address drug resistance by virtue of the physical action
of the alpha particles. 
For more information about Algeta's technology, please visit
www.algeta.com. 
About Algeta 
Algeta  is a company focused on developing novel targeted therapies
for patients
with   cancer  based  on  its  alpha-pharmaceutical 
platform.  The Company  is headquartered in Oslo, Norway, and has a
US subsidiary, Algeta US, LLC, based in Cambridge,  MA performing
commercial  marketing operations in  the US. Algeta is listed  on the
Oslo Stock Exchange (Ticker: ALGETA). For more information
please
visit www.algeta.com. 
Forward-looking Statements 
This  news release contains certain forward-looking statements that
are based on uncertainty,  as they  relate to  events and  depend on 
circumstances that will
occur in the future and which, by their
nature, may have an impact on results of operations   and   the 
financial  condition  of  Algeta. Such  forward-looking statements 
reflect our current views and are based on the information currently
available to Algeta. Algeta cannot give any assurance as to whether
such forward
looking  statements will prove  to be correct.  These
forward looking statements
include statements regarding future
development activities generally and our TTC program  in particular. 
There are  a number of factors  that could cause actual
results and
developments to differ materially from those expressed or implied by
these  forward-looking statements.  These factors  include, among 
other things,
risks  or uncertainties associated  with the success  of
future clinical trials,
collaborations  with other companies in  the
development of targeting molecules,
general  economic and business
conditions and difficulties of obtaining relevant
governmental 
approvals for new products, and  the other risks and
uncertainties
described in our annual report. 
[1] Hall (1994) Radiobiology for the Radiologist (Lippincott,
Philadelphia) 
This information is subject of the disclosure requirements pursuant
to section
5-12 of the Norwegian Securities Trading Act. 
Press release: 
http://hugin.info/134655/R/1673269/544682.pdf 
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants
that: 
(i) the releases contained herein are protected by copyright and    
other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and     
originality of the information contained therein. 
Source: Algeta ASA via Thomson Reuters ONE 
[HUG#1673269] 
For further information, please contact: 
Mike Booth
+47 2202 4510
Communications & Corporate Affairs
ir@algeta.com 
Media enquiries: 
Mark Swallow
+44 207 638 9571
Citigate Dewe Rogerson
mark.swallow@citigatedr.co.uk 
Knut Ekern
+47 22 04 82 00
Gambit Hill & Knowlton
knut.ekern@hkstrategies.com 
Kari Watson
+1 781 235 3060
MacDougall Biomedical Communications
kwatson@macbiocom.com 
US investor enquiries: 
Tricia Swanson
+1 646 378 2953
The Trout Group
tswanson@troutgroup.com
 
 
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