NEW YORK, June 10, 2015 /PRNewswire/ -- Immune
Pharmaceuticals Inc. (NASDAQ: IMNP) announced today that it has
entered into a binding Memorandum of Understanding with Yissum, the
Technology Transfer Company of the Hebrew
University of Jerusalem regarding the worldwide exclusive
licensing and development of a topical, biodegradable,
nano-capsule formulation of cyclosporine A. Cyclosporine A,
when administered systemically (Sandimmune®,
Neoral®), is an effective treatment for psoriasis,
atopic dermatitis, pemphigus vulgaris and other severe inflammatory
dermatoses.
Dr. Daniel Teper, the CEO of
Immune Pharmaceuticals, commented: "Following our lead product
candidate bertilimumab in bullous pemphigoid, we are excited to
expand our immuno-dermatology portfolio with an innovative topical
formulation of cyclosporine A. Additionally, we are further
strengthening both our nanotechnology platform and our partnership
with Yissum, which already includes NanomAbs®".
The topical nano-capsule technology and the application to
cyclosporine A have been developed by the team of Professor
Simon Benita, former Director of the
Institute for Drug Research and Dean of the School of Pharmacy at
the Hebrew University of Jerusalem.
Professor Benita pioneered an ocular nano-formulation of
cyclosporine A, approved for marketing in Europe for the
treatment of severe keratitis associated with dry eye
disease.
Professor Benita commented: "We succeeded in incorporating
cyclosporine A into biodegradable nano-capsules and have developed
stable topical formulations able to achieve therapeutic
cyclosporine A levels in the targeted skin layers. Cyclosporine A
nano-capsule therapeutic effect was confirmed in two different
animal models, which we believe may support a potential topical
alternative to oral cyclosporine A, and to other topical
immuno-suppressive drugs."
About Immune Pharmaceuticals
Immune Pharmaceuticals Inc. applies a personalized approach to
treating and, developing novel, highly-targeted antibody
therapeutics to improve the lives of patients with inflammatory
diseases and cancer. The Company's lead product candidate,
bertilimumab, is in clinical development for moderate to severe
ulcerative colitis and Crohn's disease as well as bullous
pemphigoid, an orphan auto-immune dermatological condition. Immune
licensed worldwide rights for systemic indications of bertilimumab
from iCo Therapeutics (TSX: ICO; OTCQX: ICOTF) in June 2011, while iCo retained rights to all
ophthalmic indications. iCo originally licensed the exclusive
world-wide rights to bertilimumab in 2006 from MedImmune, the
Global Research and Development arm of AstraZeneca. Immune's
pipeline also includes NanomAbs®, antibody nanoparticle conjugates,
for the targeted delivery of chemotherapeutics, and AmiKet™, a
Neuropathic Pain drug candidate ready for Phase III. AmiKet has
received Orphan Drug Designation for Post-Herpetic Neuralgia.
For more information, visit Immune's website at
www.immunepharmaceuticals.com, the content of which is not a part
of this press release.
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forward-looking statements within the meaning of the Private
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statements that include the words "may," "will," "would," "could,"
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forward-looking statements include statements that express plans,
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These statements are based on our current expectations and are
subject to risks and uncertainties that could cause actual results
or developments to be materially different from historical results
or from any future results expressed or implied by such
forward-looking statements. Factors that may cause actual results
or developments to differ materially include, but not limited to:
the risks associated with the adequacy of our existing cash
resources and our ability to continue as a going concern; the risks
associated with our ability to continue to meet our obligations
under our existing debt agreements; the risk that clinical trials
for bertilimumab or AmiKet will not be successful; the risk that
bertilimumab, AmiKet or compounds arising from our NanomAbs program
will not receive regulatory approval or achieve significant
commercial success; the risk that we will not be able to find a
partner to help conduct the Phase III trials for AmiKet on
attractive terms, on a timely basis or at all; the risk that our
other product candidates that appeared promising in early research
and clinical trials do not demonstrate safety and/or efficacy in
larger-scale or later-stage clinical trials; the risk that we will
not obtain approval to market any of our product candidates; the
risks associated with dependence upon key personnel; the risks
associated with reliance on collaborative partners and others for
further clinical trials, development, manufacturing and
commercialization of our product candidates; the cost, delays and
uncertainties associated with our scientific research, product
development, clinical trials and regulatory approval process; our
history of operating losses since our inception; the highly
competitive nature of our business; risks associated with
litigation; and risks associated with our ability to protect our
intellectual property. These factors and other material risks are
more fully discussed in our periodic reports, including our reports
on Forms 8-K, 10-Q and 10-K and other filings with the U.S.
Securities and Exchange Commission. You are urged to carefully
review and consider the disclosures found in our filings, which are
available at www.sec.gov or at www.immunepharmaceuticals.com. You
are cautioned not to place undue reliance on any forward-looking
statements, any of which could turn out to be wrong due to
inaccurate assumptions, unknown risks or uncertainties or other
risk factors. We expressly disclaim any obligation to publicly
update any forward looking statements contained herein, whether as
a result of new information, future events or otherwise, except as
required by law.
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SOURCE Immune Pharmaceuticals Inc.