8 May 2016
Alder BioPharmaceuticals Licenses Clazakizumab Rights to Vitaeris
Alder BioPharmaceuticals, Inc., a clinical-stage biopharmaceutical company developing monoclonal antibody therapeutics, and Vitaeris Inc., a newly formed company that will pursue innovative therapeutic indications in chronic inflammatory diseases, today announced that Alder has licensed the exclusive worldwide rights to clazakizumab to Vitaeris. In exchange for the rights to clazakizumab, Alder has received an equity stake in Vancouver, British Columbia, based Vitaeris and is eligible to receive royalties and certain other payments. In addition, Randall C. Schatzman, Ph.D., president and chief executive officer of Alder, has joined Vitaeris’ board of directors. Specific financial and other terms of the transaction were not disclosed.
Clazakizumab, a monoclonal antibody therapeutic candidate discovered by Alder, is designed to block interleukin-6 (IL-6), which plays a key role in the inflammatory cascade. Clazakizumab has been administered in clinical trials involving over one thousand patients. The therapeutic has not been approved in any indication.
About Alder BioPharmaceuticals, Inc.
Alder BioPharmaceuticals, Inc., is a clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize therapeutic antibodies with the potential to meaningfully transform current treatment paradigms. ALD403, Alder’s lead pivotal-stage product candidate being evaluated for migraine prevention, is a genetically engineered monoclonal antibody that inhibits calcitonin gene-related peptide (CGRP). CGRP is a small protein with a well-established role in the initiation, transmission and heightened sensitivity to migraine pain. Alder’s second program, ALD1613, targets adrenocorticotropic hormone (ACTH) and is intended for the treatment of congenital adrenal hyperplasia and Cushing’s disease. ALD1613 is undergoing Investigational New Drug (IND)-enabling preclinical studies, and an IND submission is planned for 2016. Additionally, clazakizumab, a monoclonal antibody therapeutic candidate discovered by Alder designed to block interleukin-6, is licensed to Vitaeris Inc. For more information, please visit http://www.alderbio.com.
About Vitaeris Inc.
Vitaeris Inc., is a clinical-stage biopharmaceutical company based in Vancouver, British Columbia, focused on the development of the anti-interleukin-6 (IL-6) monoclonal antibody clazakizumab for chronic inflammatory diseases. IL-6 is a key cytokine involved in the inflammation of rheumatoid arthritis, and is now being implicated in numerous other diseases characterized by chronic inflammation. Clazakizumab is a best-in-class IL-6 antagonist that has been studied in clinical trials involving over one thousand patients worldwide. For more information, please visit http://www.vitaerisbio.com.