OTTAWA, Sept. 06, 2018 (GLOBE NEWSWIRE) -- Orion Biotechnology Canada Ltd., a developer of novel medical treatments, today announced that its subsidiary, Orion Biotechnology Switzerland Sàrl, has successfully closed a transaction with the Mintaka Medical Research Foundation for the acquisition of the 5P12-RANTES molecule. 5P12-RANTES is a potent CCR5 chemokine antagonist which Orion will develop in a number of areas, including immuno-oncology, multiple sclerosis and HIV prevention.
The acquisition includes its worldwide patent portfolio, and has resulted in a partnership with the Geneva, Switzerland based Mintaka Medical Research Foundation, and the Wellcome Trust of London, England. No financial details of the transaction were released.
“We are thrilled to add the enormous potential of the 5P12-RANTES portfolio to our pipeline,” said Mark Groper, President and CEO of Orion Biotechnology. “It adds depth to our pipeline, strengthens our intellectual property portfolio, and provides the basis for the development of several additional novel immunotherapies.”
“I’m excited that we were able to successfully form this partnership with Orion Biotechnology,” said Robin Offord, Executive Director of the Mintaka Medical Research Foundation. “Mintaka looks forward to continuing its work on humanitarian (anti-HIV) uses of 5P12-RANTES with the help of the highly innovative and capable team at Orion and the substantial resources that they bring to the table. Also, 5P12-RANTES has surprised us all by its potential in a wide range of other medical indications and Orion is well placed to exploit these applications to the full.”
Daniel Gill, from Wellcome’s Innovations team, said: “HIV remains a significant global health issue and we are pleased to continue our collaboration on the development of 5P12-RANTES with Orion Biotechnology. 5P12-RANTES has significant potential in other areas of unmet need and we are excited that Orion will expand development of the molecule in other therapeutic areas such as immune-oncology and multiple sclerosis.”
About Orion Biotechnology Canada, Ltd.
Orion Biotechnology Canada Ltd, is a privately held pharmaceutical company which is developing a range of novel medicines aimed at successful treatment and prevention of the most serious illnesses and life-threatening diseases. Since 2011, Orion has been developing a robust pipeline of potential products based on innovations from different parts of the world. Our close ties to diverse institutions and experts around the globe continue to stimulate the rapid discovery of promising new treatments. With operations in North America, Europe and Asia, Orion brings together innovative technologies from some of the world’s leading research institutions such as the Mintaka Foundation for Medical Research and the Center for Public Health Research at Nanjing University. Learn more at www.orionbiotechnology.com.
About Mintaka Foundation for Medical Research
The Mintaka Foundation for Medical Research is a Geneva-based charitable foundation with the goal of ‘using advanced technology to find simple health solutions for developing countries’. Today the Foundation is focused on three areas of research; Prevention of HIV/AIDS, Prevention of maternal death in childbirth, and next-generation vaccines. Founded by three professors at Geneva's Faculty of Medicine, Mintaka identifies health problems in the developing world that require high technology research to find a solution, but for which the solution, once found, can be made economically accessible to the most disadvantaged populations on the planet. If successful, the development of 5P12-RANTES might have a significant humanitarian impact in the field of HIV prevention. Learn more at www.mintakafoundation.org.
Wellcome exists to improve health for everyone by helping great ideas to thrive. We’re a global charitable foundation, both politically and financially independent. We support scientists and researchers, take on big problems, fuel imaginations and spark debate. Learn more at www.wellcome.ac.uk
This press release contains forward-looking information, which reflects Orion’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Orion’s control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. These forward-looking statements are made as of the date of this press release and, except as expressly required by applicable law, Orion assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Contact: Ross MacLeod
Orion Biotechnology Canada Ltd