Ossianix and Novo Nordisk link on BBB Research
Ossianix, a privately held US pharmaceutical research firm based in Philadelphia, Pennsylvania, has entered a research collaboration and option agreement with Danish drugmaker Novo Nordisk to deliver therapeutic molecules in diabetes and other metabolic diseases across the Blood Brain Barrier (BBB) to the brain.
Financial details of the agreement were not disclosed.
Under the terms, Ossianix, which also has research laboratories in the UK and develops novel biopharmaceuticals for a number of therapeutic areas including CNS, will use its patented single domain VNAR antibodies to deliver a predefined number of therapeutic agents for Novo Nordisk.
The Danish company will be responsible for the development and commercialization of the therapeutic products.
In addition to upfront, pre-clinical, clinical and commercial milestone payments, Ossianix, will receive R&D funding, as well as product royalties from Novo Nordisk The latter will also have a buyout option for each product on pre-agreed financial terms.
Ossianix was founded by former senior executives from drugmakers Wyeth and Pfizer. Its lead product is a brain penetrant CD20 antibody for multiple sclerosis and cerebral lymphoma.
Frank Walsh, CEO of the Philadelphia firm, said its single-domain VNAR antibodies BBB platform is capable of delivering high levels of therapeutic products to the central nervous system utilizing the transferrin receptor. In the collaboration with Novo Nordisk, it will explore drug targets in the CNS that are associated with diabetes and metabolic disease and represent areas of huge medical need.
In combination with Novo Nordisk’s experience in disease biology, the joint projects to be pursued “hold potential to make a real difference for people living with diabetes and other metabolic diseases,” said Marcus Schindler, senior vice president, Global Drug Discovery at the Danish company.