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 14th September 2009
PolyTherics

PolyTherics and Minapharm Pharmaceuticals Sign Collaboration Agreement to Create Enhanced Biopharmaceuticals

PolyTherics Limited (“PolyTherics”), the biopharmaceuticals company dedicated to precision engineering of proteins to improve their pharmacokinetic properties, today announced the initiation of a research collaboration agreement with Minapharm Pharmaceuticals the leading Egyptian pharmaceutical company. PolyTherics will apply its proprietary drug modification technologies to a target protein of commercial interest to Minapharm. Minapharm has an option to license the collaboration intellectual property for the development and commercialisation of novel products. Minapharm also receives an option to submit further target proteins of interest to future collaborations with PolyTherics.

PolyTherics receives an upfront licence fee and further payments on achievement of defined programme milestones. Details of the agreement terms were not disclosed.

PolyTherics has substantial expertise in the targeted modification of biologic compounds for therapeutic application. Through its platform of site specific poly(ethylene glycol) (PEG)-based technologies, the Company optimises the performance of biologics administered as parenteral drugs.

Minapharm has more than forty years of experience in the pharmaceutical industry and is a regional leader in Egypt, providing in addition innovative high quality biopharmaceuticals to patients in developing countries through its subsidiary Rhein Minapharm Biogenetics.

Dr Keith Powell, Chief Executive Officer of PolyTherics, said: “Through multiple partnerships, we are uncovering the considerable development potential of our PEGylation technologies to create biotherapeutic product candidates. We are looking forward to collaborating with a company with such a solid reputation in innovative pharmaceuticals development as Minapharm.”

Dr Wafik El Bardissi, Chief Executive Officer of Minapharm, said: “A potential success of this research collaboration agreement with PolyTherics offers a viable opportunity for Minapharm to further sustain its regional market leadership while fostering new models of cost-effective biotherapeutic innovation.”

For futher information, please contact:

Keith Powell +44 (0) 207 691 4928 CEO PolyTherics

Mike Wort / Anna Dunphy +44 (0) 207 861 3838 De Facto Communications


 

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