NEW HAVEN, Conn., July 18, 2017 /PRNewswire/ -- PeptiDream
Inc., a public Tokyo-based
biopharmaceutical company ("PeptiDream")(TOKYO:4587) and Kleo
Pharmaceuticals Inc., a New
Haven-based company using its proprietary Antibody
Recruiting Molecule ("ARM") and Synthetic Antibody Mimic ("SyAM")
platform technologies to develop small molecule immunotherapies
("Kleo"), announced today a collaboration agreement to co-develop
proprietary immune-oncology products in multiple indications.
Under the terms of the agreement, PeptiDream will use its
proprietary Peptide Discovery Platform System ("PDPS") technology
to identify macrocyclic/constrained peptides against multiple
oncology targets of interest selected by Kleo, and to optimize hit
peptides into optimized binders that will be engineered by Kleo
into novel ARM and SyAM products. Kleo will receive an upfront
payment and will have the right to develop and commercialize all
compounds resulting from the collaboration. PeptiDream is eligible
to receive a tiered share of proceeds from any products that arise
from the collaboration based on degree to which PeptiDream funds
development of the product. Specific financial terms were not
disclosed.
"We are very excited to enter into this collaboration agreement
with PeptiDream ," said Douglas
Manion, MD, CEO of Kleo. "We think combining PeptiDream's
PDPS technology with Kleo's ARM and SyAM platform represents a
truly potent partnership that will generate many more effective
targeted treatments for patients. We are looking forward to
advancing this new paradigm of small molecule immunotherapies into
the clinic."
"PeptiDream has long been on the forefront of transforming
PDPS-identified peptides into peptide therapeutics, small molecule
drugs, and peptide drug conjugates (PDCs)," said Keiichi Kubota, CEO of PeptiDream. "We greatly
look forward to working with innovative leaders like Kleo to
leverage our capabilities to develop the next generation of
first-in-class and best-in-class immunotherapies."
About Kleo Pharmaceuticals Inc.
Kleo Pharmaceuticals Inc. is a biotechnology company initially
formed on the basis of intellectual property from the Spiegel Lab
at Yale University and funded by a
series A round led by Biohaven Pharmaceuticals Holding Ltd (NYSE:
BHVN) . The company was founded by Dr. David Spiegel and Roy
Prieb and is focused on developing a new class of targeted
immunotherapies. The company is based in New Haven, CT. Further information regarding
Kleo can be found at: http://kleopharmaceuticals.com.
About PeptiDream
PeptiDream Inc. is a public (Tokyo Stock Exchange 1st Section
4587) biopharmaceutical company founded in 2006 employing our
proprietary Peptide Discovery Platform System(PDPS), a
state-of-the-art highly versatile discovery platform which enables
the production of highly diverse (trillions) non-standard peptide
libraries with high efficiency, for the identification of highly
potent and selective hit candidates, which then can be developed
into peptide-based, small molecule-based, or
peptide-drug-conjugate-based therapeutics. PeptiDream aspires to be
a world leader in drug discovery and development to address unmet
medical needs and improve the quality of life of patients
worldwide. Further information regarding PeptiDream can be found
at: http://peptidream.com
Forward-Looking Statements
This news release includes forward-looking statements within the
meaning of the U.S. federal and Canadian securities laws. These
forward-looking statements involve substantial risks and
uncertainties, including statements that are based on the current
expectations and assumptions of the Company's management. All
statements, other than statements of historical facts, included in
this press release regarding the Company's plans and objectives,
expectations and assumptions of management are forward-looking
statements. The use of certain words, including the words
"estimate," "project," "intend," "expect," "believe," "anticipate,"
"will," "plan," "could," "may" and similar expressions are intended
to identify forward-looking statements. The Company may not
actually achieve the plans, intentions or expectations disclosed in
the forward-looking statements and you should not place undue
reliance on the Company's forward-looking statements. Various
important factors could cause actual results or events to differ
materially from those that may be expressed or implied by our
forward-looking statements including receipt of regulatory
approvals and market conditions. The forward-looking statements are
made as of this date and the Company does not undertake any
obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise.
CONTACT INFORMATION
Contact:
Roy Prieb
Kleo Pharmaceuticals Inc.
203-691-6961
E: rprieb@kleopharmaceuticals.com
website: www.kleopharmaceuticals.com
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SOURCE Kleo Pharmaceuticals Inc.