Navidea Signs Deal to Sublicense NAV4694 Worldwide Development Rights
April 16 2018 - 7:00AM
Business Wire
Navidea Biopharmaceuticals (NYSE MKT:NAVB) (“Navidea” or “the
Company”), a company focused on the development of precision
immunodiagnostic agents and immunotherapeutics, today
announced it has signed a deal to provide Meilleur
Technologies, Inc.,(Meilleur) a wholly owned subsidiary of Cerveau
Technologies, Inc. (Cerveau), worldwide rights to conduct research
using NAV4694, a beta-amyloid imaging agent being evaluated as
an aid in the differential diagnosis of early-onset Alzheimer’s
disease, as well as an exclusive license for the development and
commercialization of NAV4694 in Australia, Canada, China, and
Singapore. Meilleur also has an option
to commercialize worldwide. Meilleur and Cerveau are focused on
enhancing access to key technologies to advance and improve brain
health.
As a result of the agreement, the litigation initiated by
Beijing Sinotau Medical Research Co., Ltd. (Sinotau), a subsidiary
of Hainan Sinotau Pharmaceutical Co., Ltd., will be dismissed.
About NAV4694
NAV4694 is a Fluorine-18 labeled precision radiopharmaceutical
candidate intended for use in Positron Emission Tomography (PET)
imaging and evaluation of patients with signs or symptoms of
cognitive impairment such as Alzheimer’s disease (AD). NAV4694
binds to beta-amyloid deposits in the brain that can then be imaged
in scans. Beta-amyloid plaque pathology is widely used in the
diagnosis of AD. The ability of NAV4694 imaging to display amyloid
plaque pathology may enable earlier identification of AD and
improve monitoring of disease progression and interpretation of
brain scan images. There is an ongoing NAV4694 Phase 2b trial in
Mild Cognitive Impairment and a Phase 3 program for NAV4694 in
AD.
About Meilleur Technologies, Inc. and Cerveau Technologies,
Inc.
Meilleur Technologies, Inc., is a wholly owned subsidiary of
Cerveau Technologies, Inc. Cerveau is a partnership between Enigma
Biomedical Group, Inc. and Sinotau Pharmaceutical Group. Cerveau's
vision is to globally develop diagnostics and technology that will
impact patients with neurodegenerative disorders including
Alzheimer's disease. Cerveau Technologies, has recently announced
an agreement to develop a novel Tau tracer with pharmaceutical
partners in which the utilization of amyloid imaging biomarkers can
be complementary to the overall management of Neurodegenerative
disease.
About Navidea
Navidea Biopharmaceuticals, Inc. (NYSE MKT: NAVB) is a
biopharmaceutical company focused on the development of precision
immunodiagnostic agents and immunotherapeutics. Navidea is
developing multiple precision-targeted products based on its
Manocept™ platform to enhance patient care by identifying the
sites and pathways of disease and enable better diagnostic
accuracy, clinical decision-making, and targeted treatment.
Navidea’s Manocept platform is predicated on the ability to
specifically target the CD206 mannose receptor expressed on
activated macrophages. The Manocept platform serves as the
molecular backbone of Tc 99m tilmanocept, the first product
developed and commercialized by Navidea based on the platform. The
development activities of the Manocept immunotherapeutic platform
are being conducted by Navidea in conjunction with its subsidiary,
Macrophage Therapeutics, Inc. Navidea’s strategy is to deliver
superior growth and shareholder return by bringing to market novel
products and advancing the Company’s pipeline through global
partnering and commercialization efforts. For more information,
please visit www.navidea.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180416005548/en/
Navidea Biopharmaceuticals, Inc.Jed Latkin,
614-551-3416CFO/COOjlatkin@navidea.comorEdison AdvisorsTirth Patel,
646-653-7035tpatel@edisongroup.com
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