Alchemia Announces Multi-Target Drug Discovery Collaboration With AstraZeneca on VAST Discovery Platform

Alchemia Announces Multi-Target Drug Discovery Collaboration With AstraZeneca 
on VAST Discovery Platform 
BRISBANE, AUSTRALIA -- (Marketwired) -- 04/23/13 --  Alchemia Limited
(ASX: ACL) 


 
--  Alchemia is eligible to receive up to $240M in milestones, plus
    R&D expenses and royalties
--  Collaboration includes multiple targets selected by AstraZeneca
--  Alchemia provides access to VAST discovery platform and expertise

  
Alchemia Limited (ASX: ACL), a drug discovery and development company,
today announces that it has signed a multi-target, drug discovery
collaboration with AstraZeneca AB (AstraZeneca). 
This collaboration includes the use of the proprietary Diversity
Scanning Array (DSA) and associated Versatile Assembly on Stable
Templates (VAST) chemistry platform to discover and develop novel
small molecules against multiple AstraZeneca targets. Alchemia will
provide VAST chemistry expertise to develop small molecule clinical
candidates for AstraZeneca. By accessing Alchemia's VAST discovery
platform, AstraZeneca will seek novel small molecules to treat
diseases across a variety of therapeutic areas including oncology,
respiratory, cardiovascular, metabolism, infection and neuroscience. 
"We are excited to work alongside AstraZeneca's teams to explore the
applications of our proprietary VAST technology against a range of
targets," said Dr. Wim Meutermans, VP of Discovery at Alchemia and
co-inventor of the VAST platform. 
"This collaboration has the potential to demonstrate the unique
capabilities and value of VAST and is a pivotal step in the
commercialization of both the DSA and the VAST platform. I look
forward to developing a strong and productive alliance with
AstraZeneca over the coming years." 
"Alchemia's DSA library and expertise in carbohydrate chemistry are
welcome additions to our small molecule corporate collection and
early discovery hit finding activities," said Mike Snowden, Head of
Discovery Sciences at AstraZeneca. "We are looking forward to working
with Alchemia to maximise the potential of this novel platform in
early phase drug discovery at AstraZeneca." 
Under the terms of this Agreement, Alchemia will receive an
undisclosed upfront payment and is eligible for potential
preclinical, clinical and commercial launch payments totalling up to
$240M, as well as a single digit royalty. 
About VAST 
 Alchemia has designed a suite of novel compounds that
scans three dimensional molecular shapes and peptidomimetic
functionality termed the Diversity Scanning Array (DSA). This array
contains over 14,000 unique compounds related by their shape
(chemoform) and/or by their functionality (motif, three binding
elements). The DSA forms the basis for Alchemia's VAST discovery
platform which, when screened in high throughput screening (HTS), can
identify the shape and binding elements required for target
modulation. Hits from the DSA are related by shape and/or
functionality and thus provide detailed structure activity
relationships for rapid optimisation.  
About Alchemia - www.alchemia.com.au
 Alchemia is a drug development
company with late stage oncology product pipeline (Phase II and III),
and an FDA approved drug ("Fondaparinux"). 
Fondaparinux (a generic version of GlaxoSmithKline's Arixtra(R)) is
an injectable anticoagulant approved in the US for the prevention and
treatment of deep vein thrombosis (DVT) after knee or hip surgery.
The ANDA for generic fondaparinux was approved by the US FDA in July
2011 and launched in the US by marketing partner Dr Reddy's
Laboratories. Alchemia received its first profits from sales of
Fondaparinux in August 2012. 
Alchemia's pipeline of oncology products is built on the proprietary
platform technology: HyACT(R) (targeted cancer delivery), which is
used to selectively target cancer drugs to tumours. The primary
objective of the HyACT(R) technology is to develop a new generation
of anti-cancer drugs which demonstrate better efficacy. Alchemia has
recently announced the final recruitment for its most advanced cancer
drug -- HA-Irinotecan which is in Phase III for the treatment of
metastatic colorectal cancer. 
In addition, Alchemia has a platform technology, VAST(R), discovery
drug discovery platform, which is based on Alchemia's chemistry
expertise. VAST is run on a business model designed to limit use of
cash expenditure through the use of partnerships and government
grants. Alchemia has projects running with academic institutions and
evaluation underway with global pharmaceutical partners. 
Contact
Alchemia Limited
Charles Walker
Chief Executive Officer
Alchemia Limited 
Tel: +61 7 3340 0200 
Media enquiries, Australia:
Emma Power or Rudi Michelson
Monsoon Communications 
+613 9620 3333
emmap@monsoon.com.au 
Investor Relations USA:
Laura Forman
Blueprint Life Science Group 
+1 415 375 3340 Ext. 103
lforman@bplifescience.com 
 
 
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