Aerpio Announces Amended Licensing Deal with Gossamer Bio on its Inflammatory Bowel Disease (IBD) Product Candidate GB004 (fo...
May 12 2020 - 4:30PM
Aerpio Pharmaceuticals, Inc. (“Aerpio”) (Nasdaq: ARPO), a
biopharmaceutical company focused on developing compounds that
activate Tie2 to treat ocular diseases and diabetic complications,
today announced a restructuring of their licensing deal with a
wholly owned subsidiary of Gossamer Bio Inc., GB004, Inc.
(“Gossamer Bio”) (Nasdaq: GOSS), for its HIF-1 alpha
stabilizer, GB004. The terms of the amended agreement include
a $15 million immediate payment to Aerpio and a total of $90
million in milestone payments related to regulatory approvals and
commercial sales. In addition, Aerpio is also eligible to receive
tiered royalties on sales of licensed products at percentages
ranging from the low to mid-single digits. The deal continues the
collaboration between Gossamer Bio’s strong gastrointestinal (“GI”)
development team and Aerpio’s management team.
Joseph Gardner, PhD, Aerpio’s President and Founder, commented,
“We are excited about continuing our relationship with Gossamer Bio
as they advance GB004 with their experienced team in GI drug
development. The renegotiated licensing deal is intended to place
Gossamer Bio in a better position to progress GB004, and in
addition, is designed to facilitate the further development of each
company’s respective pipelines.” Additional details of the amended
agreement are summarized in an 8-K filing dated May 12, 2020.
GB004 is an oral, gut-targeted HIF-1 alpha stabilizer that has
been shown to improve disease indices in multiple models of
inflammatory bowel disease. “Unlike other HIF stabilizers that
mainly affect HIF-2 and stimulate erythropoiesis, GB004 is
differentiated in that it preferentially stabilizes HIF-1 alpha
which has a profound anti-inflammatory and mucosal healing effect.
We believe these properties make it an ideal candidate for the
treatment of IBD,” said Kevin Peters, MD, Aerpio’s Chief Scientific
Officer.
About GB004 (formerly
AKB-4924)
GB004, a selective stabilizer HIF-1 alpha, is being developed
for the treatment of inflammatory bowel disease. HIF-1 alpha is
involved in mucosal wound healing and the reduction of inflammation
in the gastrointestinal tract. Gossamer Bio recently completed a
Phase 1b study in patients with ulcerative colitis and is planning
a Phase 2 study.
About Aerpio
PharmaceuticalsAerpio Pharmaceuticals, Inc. is a
biopharmaceutical company focused on developing compounds that
activate Tie2 to treat ocular diseases and diabetic complications.
Recently published mouse and human genetic data implicate the
Angpt/Tie2 pathway in maintenance of Schlemm’s canal, a critical
component of the conventional outflow tract. The Company’s lead
compound, razuprotafib (formerly AKB-9778), a first-in-class small
molecule inhibitor of vascular endothelial protein tyrosine
phosphatase (“VE-PTP”), is being developed as a potential treatment
for open angle glaucoma, and the Company intends to investigate the
therapeutic potential of razuprotafib in other indications. The
Company is also evaluating development options for ARP-1536, a
humanized monoclonal antibody, for its therapeutic potential in the
treatment of diabetic vascular complications including nephropathy
and diabetic macular edema (“DME”). The Company’s third asset is a
bispecific antibody that binds both VEGF and VE-PTP which is
designed to inhibit VEGF activation and activate Tie2. This
bispecific antibody has the potential to be an improved treatment
for wet age-related macular degeneration and DME via intravitreal
injection. Finally, the Company has exclusively out-licensed
AKB-4924 (now called GB004), a first-in-class small molecule
inhibitor of hypoxia-inducible factor-1 (HIF). GB004 is being
developed by AKB-4924’s exclusive licensor, Gossamer Bio, Inc.
(Nasdaq: GOSS). For more information, please visit
www.aerpio.com.
Forward Looking Statements
This press release contains forward-looking
statements. Statements in this press release that are not purely
historical are forward-looking statements. Such forward-looking
statements include, among other things, the Company’s product
candidates, including razuprotafib, ARP-1536 and the bispecific
antibody asset, the clinical development plan therefor and the
therapeutic potential thereof, the Company’s strategic alternatives
review process and the potential transactions that may be
identified and explored as a result of that process, and the
intended benefits from its collaboration with Gossamer Bio for
GB004, including the continued development of GB004 and the
milestone and royalty payments related to the collaboration. Actual
results could differ from those projected in any forward-looking
statements due to several risk factors. Such factors include, among
others, the continued development of GB004 and maintaining and
deriving the intended benefits of the Company’s collaboration with
Gossamer Bio; ability to continue to develop razuprotafib or other
product candidates; the inherent uncertainties associated with the
drug development process, including uncertainties in regulatory
interactions, the design of planned or future clinical trials,
commencing clinical trials and enrollment of patients in clinical
trials; the impact of the ongoing COVID-19 pandemic on the
Company’s business operations, including research and development
efforts and the ability of the Company to commence, conduct and
complete its planned clinical activities; the ability to identify
and consummate strategic alternatives that yield additional value
for shareholders; the timing, benefits and outcome of the Company’s
strategic alternatives review process, including the determination
of whether or not to pursue or consummate any strategic
alternative; the structure, terms and specific risks and
uncertainties associated with any potential strategic transaction;
potential disruptions in our business and the stock price as a
result of our exploration, review and pursuit of strategic
alternatives or the public announcement thereof and any decision or
transaction resulting from such review; and competition in the
industry in which the Company operates and overall market
conditions; and the additional factors set forth in our Annual
Report on Form 10-K for the year ended December 31, 2019, as
updated by our subsequent Quarterly Reports on Form 10-Q and our
other subsequent filings with the SEC.
These forward-looking statements are made as of
the date of this press release, and the Company assumes no
obligation to update the forward-looking statements, or to update
the reasons why actual results could differ from those projected in
the forward-looking statements, except as required by law.
Investors should consult all the information set forth herein and
should also refer to the risk factor disclosure set forth in the
reports and other documents the Company files with the SEC
available at www.sec.gov.
ContactsInvestor &
Media:Aerpio Pharmaceuticals, Inc.Gina
MarekVP of Financegmarek@aerpio.com
Source: Aerpio Pharmaceuticals, Inc.
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