CALGARY, Alberta, Jan. 08,
2018 (GLOBE NEWSWIRE) -- Resverlogix Corp. ("Resverlogix" or the
"Company") (TSX:RVX) today announced that it has entered into a
licensing agreement with Medison Pharma Ltd. ("Medison") for the
Company's lead therapeutic candidate, apabetalone (RVX-208), in
Israel and the Palestine Authority. Apabetalone is currently in
development for the treatment of high-risk cardiovascular disease
(CVD) in patients with type 2 diabetes (T2D) and chronic kidney
disease (CKD), and potential expanded indications.
Under the terms of the agreement,
Medison has the exclusive rights to distribute and market
apabetalone in Israel. Resverlogix is eligible to receive from
Medison, ascending double digit royalties based on future net sales
of the product in the region. If certain sales milestones are
reached total royalty payments are estimated to potentially reach
in excess of US$100 million over the entire patent life in the
region. Medison will be responsible for all regulatory, sales
and marketing costs for apabetalone in the Israel region.
"This partnership with Medison is
an important validation for our lead molecule apabetalone and our
BET inhibition technology," stated Donald McCaffrey, President and
CEO of Resverlogix. "Patients in Israel have access to an
innovative world class health care system. Having Medison as a
leading partner is instrumental in the commercialization and
marketing of apabetalone for the many high-risk vascular disease
patients in the Israel national health system," McCaffrey
added.
"Apabetalone represents a
potential new and important therapeutic approach to risk reduction
for areas of critical unmet need in Israel such as CVD, diabetes,
and CKD. We look forward to the continued clinical success of
apabetalone and working with Resverlogix in fulfilling Medison's
vision to provide innovative treatments to patients in Israel,"
stated Meir Jakobsohn, CEO and founder of Medison.
"Israel represents an important
market for medical innovation," stated Kenneth Lebioda, Senior Vice
President of Business and Corporate Development at Resverlogix. "We
will continue to work closely and strengthen our ongoing
collaboration with Medison to ensure successful regulatory approval
and commercialization of apabetalone in Israel," Mr. Lebioda
added.
About Medison
Medison is Israel's leading
marketing group, representing innovative niche healthcare solutions
to companies such as Biogen, Amgen, Shire and Ipsen. Employing a
comprehensive approach to sales and service, Medison supplies and
maintains long-standing relations with HMOs (Health Maintenance
Organizations), local medical centers and physicians. Backed by
three generations of experience in the healthcare industry since
1937, Medison is uniquely qualified to provide the complete
spectrum of integrated services for international companies looking
to enter or expand their presence in the Israeli healthcare
market.
About Resverlogix
Resverlogix is developing
apabetalone (RVX-208), a first-in-class, small molecule that is a
selective BET (bromodomain and extra-terminal) inhibitor. BET
bromodomain inhibition is an epigenetic mechanism that can regulate
disease-causing genes. Apabetalone is the first and only BET
inhibitor selective for the second bromodomain (BD2) within the BET
protein called BRD4. This selective inhibition of apabetalone on
BD2 produces a specific set of biological effects with potentially
important benefits for patients with high-risk cardiovascular
disease (CVD), diabetes mellitus (DM), chronic kidney disease,
end-stage renal disease treated with hemodialysis,
neurodegenerative disease, Fabry disease, peripheral artery disease
and other orphan diseases, while maintaining a well described
safety profile. Apabetalone is the only selective BET bromodomain
inhibitor in human clinical trials. Apabetalone is currently being
studied in a Phase 3 trial, BETonMACE, in high-risk CVD patients
with type 2 DM and low high-density lipoprotein (HDL), and is
expected to be initiated in a Phase 2a kidney dialysis trial
designed to evaluate biomarker changes and safety parameters in up
to 30 patients with end-stage renal disease treated with
hemodialysis.
Resverlogix common shares trade on
the Toronto Stock Exchange (TSX:RVX).
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This news release may contain certain forward-looking
information as defined under applicable Canadian securities
legislation, that are not based on historical fact, including
without limitation statements containing the words "believes",
"anticipates", "plans", "intends", "will", "should", "expects",
"continue", "estimate", "forecasts" and other similar expressions.
In particular, this news release includes forward looking
information relating to estimated royalty payments pursuant to the
licensing agreement with Medison, the Company's Phase 3 clinical
trial and the potential role of apabetalone in the treatment of
CVD, DM, chronic kidney disease, end-stage renal disease treated
with hemodialysis, neurodegenerative disease, Fabry disease, peripheral artery disease and other
Orphan diseases. Our actual results, events or developments could
be materially different from those expressed or implied by these
forward-looking statements. We can give no assurance that any of
the events or expectations will occur or be realized. By their
nature, forward-looking statements are subject to numerous
assumptions and risk factors including those discussed in our
Annual Information Form and most recent MD&A which are
incorporated herein by reference and are available through SEDAR
at www.sedar.com.
The forward-looking statements contained in this news release are
expressly qualified by this cautionary statement and are made as of
the date hereof. The Company disclaims any intention and has no
obligation or responsibility, except as required by law, to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
For further information, please contact:
Investor Relations
Email: ir@resverlogix.com
Phone: 403-254-9252
Or visit our website: www.resverlogix.com