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Algeta ASA : Algeta to evaluate novel Targeted Thorium Conjugate (TTC) based on Avipep's Avibody platform



 Algeta ASA : Algeta to evaluate novel Targeted Thorium Conjugate (TTC) based
                         on Avipep's Avibody platform

Oslo, Norway, 11 June 2013 - Algeta ASA (OSE: ALGETA) announces a
collaboration with Australian biotechnology company Avipep Pty Ltd to evaluate
a novel Targeted Thorium Conjugate (TTC) based on combining Algeta's
proprietary thorium-227 alpha-pharmaceutical payload with an Avibody^TM from
Avipep that targets a number of different solid tumor types.
Under the terms of the agreement, Avipep will provide access to a proprietary
Avibody, a next-generation antibody fragment, and Algeta will provide access
to chelation and conjugation technologies, as well as to its alpha
particle-emitting payload thorium-227. Both companies will contribute
financially to the collaboration, which is expected to last for up to one year
initially with the option for further cooperation thereafter. No further terms
have been disclosed.

Thomas Ramdahl,  Executive  Vice President  and  Chief Technology  Officer  at 
Algeta, said: "This  TTC evaluation agreement  is a further  step towards  our 
goal   of   building   an   attractive   pipeline   of   thorium-based   alpha 
pharmaceuticals.  Avivep's  Avibody  has  shown  excellent  tumor   localizing 
properties in model systems and we hope that when armed with our highly potent
thorium-227 payload this novel TTC will offer maximum therapeutic benefit."

About the Algeta TTC Platform

Algeta is evaluating the potential utility of alpha-particle emitting elements
in the  treatment of  cancer. Previous  studies^[i] 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, 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  
US investor enquiries:
Tricia Swanson                       +1 646 378 2953
The Trout Group                      tswanson@troutgroup.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 Avipep Pty Ltd

Avipep is  a privately  owned biotechnology  company developing  ADCs for  the 
treatment of cancer. Avipep's  proprietary Avibody^TM products are  engineered 
antibody related  proteins that  can deliver  either cancer-killing  drugs  or 
cancer-imaging agents  directly and  specifically to  tumours. Antibodies  are 
natural proteins in the body's immune  system that can target cancer cells  by 
binding to specific molecules on the cancer-cell surface. Avibody^TM  products 
leverage the  targeting  capacity of  natural  antibodies but  are  tuned  for 
improved tumour targeting  and in-vivo  performance. To date  the Company  has 
generated pre-clinical animal results that suggest the exciting potential  for 
the approach.  For further  information  about Avipep,  visit its  website  at 
www.avipep.com.au.

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.

 

[i] 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

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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
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(ii) they are solely responsible for the content, accuracy and originality of
the
information contained therein.

Source: Algeta ASA via Thomson Reuters ONE
HUG#1708262
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