Algeta ASA : Algeta exercises option and signs exclusive license agreement with Lumiphore, Inc. for novel technology for

  Algeta ASA : Algeta exercises option and signs exclusive license agreement
with Lumiphore, Inc. for novel technology for development of Targeted Thorium
                              Conjugates (TTCs)

Oslo, Norway, 2 May 2013 - Algeta ASA (OSE: ALGETA), a company focused on the
development of novel targeted cancer therapeutics, announces it has exercised
its option to take an exclusive worldwide license to patented Lumi4^®
bi-functional chelator technology from Lumiphore, Inc. (Richmond, CA, USA) and
has extended the collaboration to include additional chelator families. These
technologies are currently being developed by Algeta to conjugate thorium-227
to tumor-targeting molecules to create Targeted Thorium Conjugates (TTCs).

Lumiphore's Lumi4^® technology  is based  on a unique  class of  bi-functional 
chelators^[1] that  forms  a  novel cage  structure  surrounding  and  tightly 
binding thorium-227,  which can  then be  covalently attached  to a  range  of 
tumor-targeting molecules, such as monoclonal antibodies, to create  potential 
cancer therapeutics. Algeta originally signed an option/license agreement with
Lumiphore around  this technology  in  2010 and  subsequently extended  it  to 
enable further evaluation to  be conducted. This stage  of evaluation has  now 
been completed successfully.

In parallel  with this  license  agreement, Algeta  has  also been  granted  a 
license by Lumiphore covering a  second class of bi-functional chelators  that 
bind strongly to thorium-227, with the option of including a further selection
of compounds within  that license  if future exploratory  work confirms  their 
promise.

Under the  terms of  the  agreements, Algeta  will  pay Lumiphore  the  option 
exercise fee for the Lumi4^® chelators, and a signature and option fee for the
second class of chelators, plus development and sales milestones and a royalty
on product sales. Further financial details have not been disclosed.

Thomas Ramdahl, Algeta's Chief Technology Officer, said: "Algeta is assembling
a  broad  portfolio  of  proprietary  technologies  (including   bi-functional 
chelators, linkers and tumor-targeting  molecules), intellectual property  and 
expertise as a platform for  generating Targeted Thorium Conjugates, or  TTCs. 
The addition  of the  Lumiphore  technologies to  the portfolio  through  this 
license and further option agreements will  ensure that we have access to  the 
best bi-functional chelators for thorium-227 as  we seek to create a  pipeline 
of TTCs  designed to  address multiple  high-value opportunities  in  targeted 
cancer therapy."

Algeta's TTC  strategy  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  CD22-  (hematological  cancer)  and 
HER2-targeting (breast/ovarian cancer) molecules in-licensed from Immunomedics
and  Affibody,  respectively;  and  a   fully  owned  TTC  program   targeting 
hematological cancers. Algeta is advancing  its preclinical pipeline with  the 
aim of entering its first TTC into clinical trials in 2014.

About Algeta's TTC Platform

Algeta is evaluating the potential utility of alpha-particle emitting elements
in the  treatment of  cancer. Previous  studies^[2] 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),  potentially  minimizing  off-target 
effects. 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.  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.

For further information about Algeta, please contact:

Mike Booth / Renate Birkeli          +47 23 00 67 32
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 
Investor enquiries:
Tricia Swanson                       +1 646 378 2953
The Trout Group                      tswanson@troutgroup.com

For further information on Lumiphore, Inc., please contact:

Kenneth N. Raymond, Ph.D.
President and Chairman
Lumiphore, Inc.
Tel./FAX: +510-232-8455
kraymond@lumiphore.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.

About Lumiphore

Based in Richmond, California, Lumiphore Inc,  a privately held company, is  a 
biotechnology leader  in  the  development  of  proprietary  luminescent-metal 
lanthanide and  bi-functional  chelation  technology  for  use  in  high-value 
imaging  and  therapeutic  applications   which  are  commercialized   through 
market-specific alliances with  corporate partners.  Lumiphore has  exclusive 
licenses to the science developed at the University of California, Berkeley in
the laboratory of Professor Kenneth N.  Raymond, a world expert on  lanthanide 
and actinide chemistry.  For more information  about Lumiphore, please  visit 
www.lumiphore.com. Lumi4^® is a registered mark of Lumiphore, Inc.

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]Known as aromatic macrocyclic bi-functional chelators (AMBFs): one end
binds the radionuclide (thorium-227) and the other end links to the
tumor-targeting molecule.
[2]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

------------------------------------------------------------------------------

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#1698251
 
Press spacebar to pause and continue. Press esc to stop.