Aker BioMarine signs first pharmaceutical agreement for development of therapies based on LYSOVETA™
Aker BioMarine has entered into an agreement with serial biotech entrepreneur Dr. Michael Davidson and his wholly owned company Medical Food Solutions Research, to develop pharmaceutical therapies for brain and eye health based on Aker BioMarine’s product LYSOVETA,LPC bound EPA/DHA. This is the first commercial pharmaceutical agreement AkerBioMarine is entering for its new LYSOVETA business area.
Under the terms of the agreement:
· A new company will be established to develop the therapies. Aker BioMarine will receive 50 percent of the shares in this company.
· Aker BioMarine will grant an exclusive licence under its IP to the company. The scope of such licence is limited to the distinct products and therapies to be developed by the company. In exchange of for such an exclusive licence, Aker BioMarine will receive milestone payments and double-digit royalties from commercial sales of the therapies.
· Aker BioMarine will supply the company with all its LPC product needs.
· The company will seek to raise approximately 30M USD from external investors to fund early clinical trials to obtain proof of concept for the therapies.
The company established will seek to develop therapies for treatment for the following indications: Diseases related to brain function and development:
· Alzheimer’s Disease, AD – ApoE4 related AD, which stands for 35 percent of all AD cases.
· Gestational diabetes – associated with lower uptake of DHA in the fetus and might cause abnormalities in the development of the brain.
Diseases related to eye health and vision:
· Dry age-related macular degeneration – age related vision decline.
· Dry eye syndrome – low quality or low production of tears causing inflammation and blurred vision.
· Stargardt’s juvenile blindness – inherited eye disease that may cause vision loss from early age.
“These are all diseases where there is no effective method of treatment available today, and which are having big impact on the life quality of those affected,” says Dr. Michael Davidson. “By using the breakthrough discovery of LPC showing how EPA/DHA can effectively be delivered to the brain and eyes combined with the knowledge of EPA/DHA’s role in these diseases, gives us great confidence in the opportunities that lie within the use of LYSOVETA for development of treatments towards these diseases.”
“This collaboration merges Dr. Davidson’s experience and track record from successful drug developments with Aker BioMarine’s IP and unique position for production and processing of LPC-EPA/DHA, and creates a strong basis for the development of new products within the pharmaceutical sphere,”says Matts Johansen,CEO, Aker BioMarine. “The agreement with Dr. Davidson is an important step to position Aker BioMarine as a global leader in development and commercialization in the LPC space.”
Dr. Michael Davidson,Clinical Professor of Medicine and Director of the Lipid Clinic at the University of Illinois Chicago, has a track record of founding and developing successful pharmaceutical companies. He was the founder of Omthera which was acquired by AstraZeneca in 2013 for 443M USD, and later founded Corvidia Therapeutics which was acquired by NovoNordisk for 2.1B USD in 2020. He is a leading expert in Lipidology. He has broad experience with the use of lipids for therapeutical purposes and has conducted more than 1000 clinical trials.
In November 2020, Aker BioMarine announced the new segment LYSOVETA, with IP and capabilities for production of commercial volumes of LPC-bound EPA/DHA from krill. Aker BioMarine will continue to seek partnerships within the pharmaceutical space to develop other therapies based on science in the field of LPC and the ability LYSOVETA has for targeted delivery of EPA and DHA.
For further information, please contact Christine Strømhylden Lunder, Innovation Project Manager
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