July 24, 2016 12:35 PM ET

Pharmaceuticals

Company Overview of Andromeda Biotech Ltd.

Company Overview

Andromeda Biotech Ltd. develops and manufactures drugs for the treatment of autoimmune diabetes. It offers DiaPep277, a product in Phase III clinical trial for treating Type 1 diabetes (T1D). The company’s clinical trial product, DiaPep277 is a peptide that represents a therapeutic approach to prevent the destruction of insulin producing cells in the pancreas. Its DiaPep277 product serves newly diagnosed adults, children, and adolescents with T1D; LADA patients; and people with a high risk of developing T1D. The company was founded in 2007 and is based in Yavne, Israel. As of June 12, 2014, Andromeda Biotech Ltd. operates as a subsidiary of Hyperion Therapeutics, Inc.

42 Hayarkon Street

Industrial Area

Yavne,  81227

Israel

Founded in 2007

Phone:

972 8 938 7777

Fax:

972 8 940 7737

Key Executives for Andromeda Biotech Ltd.

Chief Executive Officer
Age: 65
Chief Financial Officer
Vice President of Clinical Development
Compensation as of Fiscal Year 2016.

Andromeda Biotech Ltd. Key Developments

Evotec Announces Legal Steps Against Andromeda Biotech, Ltd

On 08 September 2014, Hyperion Therapeutics Inc. announced that it will discontinue the product development of DiaPep277(R) for newly diagnosed Type 1 diabetes, because Hyperion affirmed that it uncovered evidence that certain employees of Andromeda in collusion with a third-party biostatistics firm in Israel engaged in serious misconduct with regard to the use of generated data in order to manipulate the analyses to obtain a favourable result of the Phase III trial. In 2007, DeveloGen AG sold all rights to the drug candidate DiaPep277(R) to Andromeda, a newly formed wholly owned subsidiary of Clal Biotechnology Industries Ltd. Under the terms of this asset purchase agreement, DeveloGen transferred all rights in DiaPep277(R) to Andromeda in return for single-digit royalty rates and certain milestones in the single-digit rate upon commercialization of DiaPep277.

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Recent Private Companies Transactions

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