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Immuron Ltd — Regulatory Filings 2007
Nov 13, 2007
35121_rns_2007-11-13_bdebcdd3-a15b-490f-89a9-2d95c764c436.pdf
Regulatory Filings
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Company Announcement
Hadasit and Anadis to Form Joint Venture Company to Develop Therapeutic Treatments for Inflammatory Diseases, Infectious Diseases and Cancer
Wednesday 14 November 2007
Jerusalem, Israel and Melbourne, Australia, November 14, 2007 --- Hadasit and Anadis, Ltd. (ASX: ANX) announced today their intention to form a new joint venture company tentatively called Immuron. The mandate of the new company is to develop a new line of therapeutic products for the treatment of several inflammatory diseases, infectious diseases and cancers.
The products will be based on a combination of intellectual property (IP) from Hadasit and Anadis. Hadasit will contribute user specific methods for the treatment of immune mediated disorders and cancer.
“Hadasit is well known for its enormous pool of IP. It also has a superb reputation as a center of excellence for pre-clinical and early stage clinical practice. Their clinical deliverables, integrity, and overall commitment to creating therapeutics that will have a positive global impact make partnership with Hadasit a natural choice,” said Dr. Oren Fuerst, VP for Business Development at Anadis and CEO of Immuron. “I anticipate that over the next five years the competitive landscape of biotherapy will be completely altered, with our new venture playing a central role.”
Pre-clinical studies will begin in January to determine the efficacy of the products in animal models. Phase I clinical trials are anticipated to begin in the second half of 2009. The pre-clinical, Phase I and Phase II studies will be conducted at Hadasit at the new Hadassah Clinical Research Center at Hadassah University Hospital in Ein Kerem, Israel. The custom manufacturing of the commercial products will be conducted by Anadis and new intellectual property will be licensed back to Anadis for use in its additional research initiatives.
“We are proud to join efforts with Anadis. The marriage of their unique approach to drug development with our vast experience in immunotherapy methods offers a novel approach to the development of new medical treatments. The mandate of the joint venture aligns with Hadasit’s philosophy that a successful technology transfer company should oversee the development of a product from the outset through the Phase II stage and then license to big pharma after credible and promising data has been collected,” said Dr. Rafael Hofstein, CEO of Hadasit.
About Anadis Limited
Anadis Limited (ASX: ANX) is a research-driven biotechnology company focused on antibody-based health products. Anadis’ proprietary, rapid manufacturing technology has enabled it to develop a product pipeline of polyclonal antibody-based solutions to a range of important infectious and immune-mediated diseases. The all-natural dairy-derived platform, and its regulatory classification as GRAS (Generally Regarded as Safe) when administered orally allows for a significantly shorter time-frame from bench to market compared with typical biotechnology products. The platform also possesses dramatically lower manufacturing costs and higher scalability compared to typical antibody-based solutions. Anadis is addressing existing market opportunities sized in excess of US$30 billion. Leveraging a technology platform that has been carefully developed over a decade, the company expects to become the leading provider of proprietary polyclonal antibody-based solutions worldwide. For further information please visit www.anadis.com. For investor relations information: Arie Nudel, at [email protected] or +61 3 9358 6388. For press inquiries: Richard Allen, Media, at [email protected] or +61 3 9915 6341.
About Hadasit
Hadasit (www.hadasit.co.il), the Technology Transfer Company of Hadassah Medical Organization (HMO) in Jerusalem, Israel, promotes and commercializes HMO’s continuously generated intellectual property (IP) and R&D capabilities. IP generated by HMO has already gained global recognition due to Hadasit’s successful enterprising of Hadassah’s biomedical technology, including novel therapeutics, diagnostics and devices. For additional information or to schedule an interview, please contact Marjie Hadad, Media Liaison, Hadasit, at +972-54-536-5220 or e-mail [email protected] or [email protected].