ContraVir Pharmaceuticals Announces Research Collaboration Agreement with Li Ka Shing Institute of Virology
October 17 2017 - 6:00AM
ContraVir Pharmaceuticals, Inc. (NASDAQ:CTRV), a biopharmaceutical
company focused on the development and commercialization of
targeted antiviral therapies, today announced a collaboration with
the Li Ka Shing Institute of Virology (LKSIoV).
LKSIoV brings together clinicians and basic scientists to study
the development of viral vaccines and antiviral therapies to reduce
fatal outcomes of viral infections through the use of
scientific research as well as human epidemiologic and genetic
studies. LKSIoV has 37 Principal Investigators and approximately
150 trainees and employees. LKSIoV builds on internationally
recognized virology expertise and infrastructure with global
connections to such partners as the US National Institutes of
Health, the Bill and Melinda Gates Foundation, the Helmholtz Centre
for Infection and Research. The LKSIoV was created in 2010 through
the combined gifts of $25 million from the Li Ka Shing (Canada)
Foundation and $52.5 million from the Government of Alberta to
support the Applied Virology Institute, led by Dr. Michael
Houghton.
The Founding Director of LKSIoV is Dr. D. Lorne Tyrrell,
Distinguished University Professor at the University of Alberta.
Dr. Tyrrell’s research has focused on viral hepatitis since 1986
and his research, supported by Canadian Institutes of Health
Research CIHR and Glaxo Canada (now GSK), resulted in the licensing
of the first oral antiviral agent to treat chronic hepatitis B
infection – lamivudine – in 1998. Today, lamivudine is licensed in
over 200 countries worldwide for the treatment of HBV. Dr. Tyrrell
was Dean, Faculty of Medicine and Dentistry from 1994-2004, and
earned numerous prestigious awards including the Prix Galien Canada
Research Award (1998), the Gold Medal of the Canadian Liver
Foundation (2000), Alberta Order of Excellence (2000), Officer of
the Order of Canada (2002), the Frederic Newton Gisborne Starr
Award from the Canadian Medical Association (2004), the Fellow of
the Royal Society (2004), and the Killam Prize for Health Research
(2015), among others. Dr. Tyrrell has also taken on several Board
positions, including the Chair of the Board of the Institute of
Health Economics, Chair of the Gairdner Foundation Board, and
member of the Research Advisory Council for the Canadian Institute
for Advanced Research. He has also been appointed to the Science
Advisory Board to Health Canada. Dr. Tyrrell has also been involved
in the establishment of several biotech companies, including KMT
Hepatech Inc., based on the first non-primate animal model for
Hepatitis C Virus.
“I am excited to have the opportunity to play a significant role
in this collaboration between ContraVir and the Li Ka Shing
Institute of Virology,” commented Dr. Lorne Tyrrell. “This is a
perfect example of how industry, academia, as well as the public
and private sectors can come together with a sharp focus and depth
of expertise to create and understand novel ways to treat HBV and
other viruses.”
ContraVir has previously presented data demonstrating the
synergistic antiviral activity from the combination of its two
proprietary HBV drug candidates CRV431 and TXL™ (ContraVir, April
22, 2017). “ContraVir is honored to work with Dr. Tyrrell, and his
team at the Li Ka Shing Institute of Virology,” stated James
Sapirstein, Chief Executive Officer of ContraVir. We are confident
that this collaboration will further explore the mechanisms of
action of CRV431 and TXL™ and give us a significant advantage in
addressing the unmet medical needs that continue to burden HBV
infected patients.
About ContraVir Pharmaceuticals
ContraVir is a biopharmaceutical company focused on the
development and commercialization of targeted antiviral therapies
with a specific focus on developing a potentially curative therapy
for hepatitis B virus (HBV). The Company is developing two novel
anti-HBV compounds with complementary mechanisms of action. TXL™
currently in Phase 2, is designed to deliver high intrahepatic
concentrations of TFV, while minimizing off-target side-effects
caused by high levels of circulating TFV. CRV431, the other
anti-HBV compound, is a next-generation cyclophilin inhibitor with
a unique structure that increases its potency and selective index
against HBV. ContraVir is also developing Valnivudine™, an orally
available nucleoside analogue prodrug; Valnivudine™ is currently in
Phase 3 for the treatment of herpes zoster. In addition to
direct antiviral activity, Phase 2 data suggest that Valnivudine™
has the potential to reduce the incidence of debilitating
shingles-associated pain known as post-herpetic neuralgia
(PHN). For more information visit www.contravir.com.
Forward Looking Statements
Certain statements in this press release are forward-looking
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements may be identified by the use of
forward-looking words such as "anticipate," "believe," "forecast,"
"estimated" and "intend," among others. These forward-looking
statements are based on ContraVir's current expectations and actual
results could differ materially. There are a number of factors that
could cause actual events to differ materially from those indicated
by such forward-looking statements. These factors include, but are
not limited to, substantial competition; our ability to continue as
a going concern; our need for additional financing; uncertainties
of patent protection and litigation; uncertainties with respect to
lengthy and expensive clinical trials, that results of earlier
studies and trials may not be predictive of future trial results;
uncertainties of government or third party payer reimbursement;
limited sales and marketing efforts and dependence upon third
parties; and risks related to failure to obtain FDA clearances or
approvals and noncompliance with FDA regulations. As with any drug
candidates under development, there are significant risks in the
development, regulatory approval, and commercialization of new
products. There are no guarantees that future clinical trials
discussed in this press release will be completed or successful, or
that any product will receive regulatory approval for any
indication or prove to be commercially successful. ContraVir does
not undertake an obligation to update or revise any forward-looking
statement. Investors should read the risk factors set forth in
ContraVir's Form 10-K for the year ended June 30, 2017 and other
periodic reports filed with the Securities and Exchange
Commission.
For further information, please contact:
Sharen Pyatetskaya Director of Investor Relations
sp@contravir.com; (732) 902-4028
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