Cocrystal Pharma, Inc. Announces License Agreement with Kansas State University Research Foundation for Norovirus and Coronav...
February 24 2020 - 8:00AM
- Company acquires rights to preclinical leads for Norovirus and
Coronavirus therapeutics -
- Proprietary platform technology will be used to
further develop leads and choose clinical candidate -
COCRYSTAL PHARMA, INC. (NASDAQ:
COCP) (“Cocrystal” or the “Company”), a clinical stage
biotechnology company discovering and developing novel antiviral
therapeutics, today announced that it has entered into a
license agreement with Kansas State University Research Foundation
(“KSURF”) to further develop certain proprietary broad-spectrum
antiviral compounds for the treatment of Norovirus and Coronavirus
infections.
Under the terms of the agreement, Cocrystal has
been granted an exclusive, royalty-bearing right and license to
certain antiviral compounds for humans covered by KSURF’s patents.
Cocrystal intends to pursue research and development of theses
antiviral compounds, including preclinical and clinical
development. This license advances the Company's antiviral programs
significantly by providing potent compounds for further
development.
“We are incredibly pleased to contract with the
Kansas State University Research Foundation as we seek to develop
safe and effective antiviral therapies for these viruses. This
license agreement opens several development opportunities for us to
expand the broad utility of our platform to address significant
viruses for which there are unmet medical needs, particularly the
COVID-19 coronavirus and norovirus,” commented Dr. Sam Lee,
President of Cocrystal. “There is an urgent demand to address the
public health threat that the coronavirus continues to present, and
we believe that our proprietary drug discovery platform has the
capability to do just that. We intend to seek opportunities for
collaborations as we advance these programs.”
Cocrystal’s technology generates a 3-D structure
of inhibitor complexes at near-atomic resolution providing the
Company with the ability to identify novel binding sites, which
allows for a rapid turnaround of structural information through
highly automated X-ray data processing and refinement. By utilizing
this technology, Cocrystal is able to develop compounds that
specifically target enzymes that are important to viral
replication. The Company is currently leveraging its unique
structure-based technologies to develop antiviral drugs for
hepatitis C, influenza and norovirus.
About Coronavirus Disease 2019
(COVID-19)
The Centers for Disease Control and Prevention
(CDC) is closely monitoring an outbreak of respiratory illness
caused by this new coronavirus (COVID-19) first identified in
Wuhan, Hubei Province, China. Initially many of the patients in the
outbreak in Wuhan, China reportedly had some link to a large
seafood and animal market, suggesting animal-to-person spread.
However, a growing number of patients reportedly have not had
exposure to animal markets, indicating person-to-person spread is
occurring. At this time, it’s unclear how easily or sustainably
this virus is spreading between people. Summary updates are
available on CDC’s web page: Coronavirus Disease 2019
(COVID-19).
About Norovirus Disease
There are no drugs approved for Norovirus
infections. In the US alone, there are between 19-21 million
Norovirus cases every year. This highly contagious virus is
responsible for cruise ships returning to shore, and outbreaks of
gastroenteritis occurring in confined living quarters, hospitals,
and retirement centers. The global economic burden of Norovirus is
greater than $60 billion per year. There are three distinct markets
we intend to target: acute infection, chronic infection, and
prophylaxis. Additional information is available at World Economic
Forum titled “What is the economic impact of norovirus infections,”
2016; and CDC titled “Norovirus Disease in the United States,”
2013.
About Cocrystal Pharma,
Inc.
Cocrystal Pharma, Inc. is a clinical stage
biotechnology company discovering and developing novel antiviral
therapeutics that target the replication machinery of influenza
viruses, hepatitis C viruses, and noroviruses. Cocrystal employs
unique structure-based technologies and Nobel Prize winning
expertise to create first- and best-in-class antiviral drugs. For
further information about Cocrystal, please visit
www.cocrystalpharma.com.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements related to our development
opportunities using the KSURF patents, our research goals including
clinical development, the capabilities of our antiviral programs,
and other statements that are not historical facts. The words
"believe," "may," "estimate," "continue," "anticipate," "intend,"
"should," "plan," "could," "target," "potential," "is likely,"
"will," "expect" and similar expressions, as they relate to us, are
intended to identify forward-looking statements.
We have based these forward-looking statements
largely on our current expectations and projections about future
events. Some or all of the events anticipated by these
forward-looking statements may not occur. Important factors that
could cause actual results to differ from those in the
forward-looking statements include, but are not limited to, risks
arising from our ability to develop treatments for the coronavirus
and norovirus, the intense competition to develop treatments and
vaccines for the coronavirus, the size of the coronavirus market
and the potential duration of its outbreak, the availability of
products manufactured by third parties, the future results of
preclinical and clinical studies, general risks arising from
clinical trials, receipt of regulatory approvals, our ability to
find and enter into agreements with suitable collaboration
partners, unanticipated or existing litigation and other expenses
and factors that affect the capital markets in general and early
stage biotechnology companies specifically. Further information on
our risk factors is contained in our filings with the SEC including
our Prospectus Supplement dated January 29, 2020. Any
forward-looking statement made by us herein speaks only as of the
date on which it is made. Factors or events that could cause our
actual results to differ may emerge from time to time, and it is
not possible for us to predict all of them. We undertake no
obligation to publicly update any forward-looking statement,
whether as a result of new information, future developments or
otherwise, except as may be required by law.
Investor and Media Contact:JTC
Team, LLC(833) 475-8247COCP@jtcir.com
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