Tokyo, Japan and London, UK, 13 March 2018 – Sosei Group (“Sosei” or the “Company”; TSE Mothers Index: 4565), the world leader in GPCR medicine design and development, announced that it has regained worldwide rights from Teva Pharmaceutical Industries Ltd. (“Teva”) to develop and commercialize lead candidate HTL0022562 and other novel small molecule CGRP antagonists for the treatment of migraine and other severe headaches.
HTL0022562 is a novel, potent, and highly selective small molecule CGRP antagonist designed by Sosei’s wholly-owned subsidiary Heptares Therapeutics (“Heptares”) using its proprietary structure-based drug design platform. The candidate emerged from a rigorous selection process under the alliance with Teva based on its highly differentiated preclinical data. The first dosing in a Phase 1 clinical trial in healthy volunteers was expected in late 2018. Sosei will now undertake a detailed review of the programs and update the market later this year on the new expected timing for HTL0022562’s entry into Phase 1 clinical trials following a formal handover from Teva.
The termination of the 2015 licensing and drug discovery agreement between Heptares and Teva is a result of Teva’s recent portfolio prioritization. All licensed rights relating to the CGRP antagonist programs will be returned to Sosei. As part of the reversion package, Sosei will also receive the full preclinical data set generated by Teva under the partnership. In regaining the worldwide development and commercialization rights there is no immediate or material financial impact to Sosei. Going forward, as a wholly-owned pipeline program, Sosei will be responsible for the costs associated with developing HTL0022562 or any other small molecule CGRP antagonists.
“Heptares’ technologies and know-how provided unique structural insights concerning the interaction between CGRP and its receptor, enabling the design of a portfolio of differentiated, potent and selective small molecule CGRP antagonist candidates. The joint project activities of both companies have led to the selection and progression through preclinical development of HTL0022562 as the preferred candidate,” commented Dr. Malcolm Weir, Chief R&D Officer of Sosei. “Thanks to this excellent work by the combined teams under the alliance, and following the return of the assets, we are now well positioned to rapidly progress HTL0022562 into the clinic as part of our wholly-owned pipeline. HTL0022562 has very interesting and differentiated properties compared to other small molecule and antibody antagonists, and we look forward to continuing its development.”
“Sosei is extremely pleased to regain worldwide rights for the development and commercialization of HTL0022562 and the CGRP program,” said Peter Bains, CEO of Sosei. “It provides Sosei with another high-quality preclinical candidate to add to our expanding wholly-owned development pipeline. With c.$280 million of cash on balance sheet*, we are well positioned to take this candidate forward and capture greater value for our shareholders.”
*As at 31 December 2017