Cyclo Therapeutics Enters Research and Collaboration Agreement with Wits Commercial Enterprise (Pty) Ltd to Explore Potential Applications of Trappsol® Cyclo™ to Expand Pipeline
March 24 2022 - 8:05AM
Business Wire
– Collaboration with the University of the Witwatersrand,
Johannesburg (“Wits”), represented by Wits Commercial Enterprise; a
wholly-owned subsidiary of the University mandated to manage and
commercialize the University’s Intellectual Property; expected to
explore the University’s proprietary platform technology in various
indications.
– Company currently advancing Trappsol® Cyclo™ in a pivotal
Phase 3 study for the treatment of Niemann-Pick Disease Type C and
planned Phase 2 study for the treatment of early Alzheimer’s
disease.
Cyclo Therapeutics, Inc. (Nasdaq: CYTH) (“Cyclo Therapeutics” or
the “Company”), a late clinical stage biotechnology company
dedicated to developing life-changing medicines through science and
innovation for patients and families living with diseases, today
announced that it has entered into a research and collaboration
agreement with the University of the Witwatersrand, Johannesburg
(Wits) represented by Wits Commercial Enterprise (Pty) Ltd, a
wholly owned subsidiary of the University whose mandate is to
protect and manage the University’s intellectual property. Under
the terms of the collaboration agreement, Wits and Cyclo
Therapeutics plan to develop and coordinate projects or activities
to further scientific advancement of the Company’s proprietary
platform technology, Trappsol® Cyclo™.
N. Scott Fine, Chief Executive Officer of Cyclo Therapeutics
commented, “We have established proof-of-concept and compelling
data to-date with Trappsol® Cyclo™ and currently have a Phase 3
study in Niemann-Pick Disease Type C underway, and are preparing to
advance our Phase 2 study in Alzheimer’s disease. This growing body
of encouraging data, combined with our unique mechanism of action
facilitated an exciting dialogue with Wits and warrants pursuing
together further applications of our technology in additional
indications. This collaboration is an important strategic step
forward in understanding the potential and expected broad utility
of our validated platform technology. We believe working with Wits,
a world-renowned teaching, research and development institution,
will enable us to explore the depth and breadth of our pipeline
opportunities with Trappsol® Cyclo™ as well as bolster our growing
intellectual property estate. We look forward to working with the
Wits team to advance this technology and provide what we believe
will be a solid foundation to fuel a robust pipeline.”
Prof Mandeep Kaur of Wits’ School of Molecular and Cell Biology
commented, “The collaboration with Cyclo Therapeutics is an
exciting milestone in our endeavors to develop innovative and
groundbreaking treatment for various disease indications based on
our proof-of-concept studies concluded in the past few years. This
complementarity of skills and experience will facilitate new
knowledge generation for the benefit of science and humanity,
signifying the true spirit of Ubuntu. We believe that our
collaboration with a progressive company like Cyclo Therapeutics
will enhance our capability to explore complex disease related
pathways while translating impactful research to clinics in the
future. We are delighted to have Cyclo Therapeutics on-board during
our therapeutics discovery and innovation journey.”
The Collaboration consists of cooperative agreements in
specific, undisclosed research and development, technology
development and commercialization, and training projects, or any
other activity agreed upon by Cyclo Therapeutics and Wits. Due to
intellectual property development and for competitive reasons,
Cyclo Therapeutics is not disclosing details related to the
exploration of therapeutic areas or indications at this time.
“Wits Enterprise is a world-class organization and the go-to
platform for Wits researchers needing support to capitalize their
knowledge and research. We are excited to utilize and leverage
their deep knowledge and expertise to further the advancement of
Trappsol® Cyclo™ and its potential to address additional areas of
unmet clinical need,” added Lise Lund Kjems, MD, PhD, Chief Medical
Officer of Cyclo Therapeutics.
Trappsol® Cyclo™ is a proprietary formulation of hydroxypropyl
beta cyclodextrin that, in multiple clinical studies, has shown
encouraging results to effectively manage the transportation of
cholesterol. Taking the place of the defective NPC1 protein,
Trappsol® Cyclo™, with its cyclic structure, facilitates the
transport of accumulated cholesterol out of cellular lysosomes so
it can be further processed and excreted out of cells.
Cyclo Therapeutics is currently testing the investigational
Trappsol® Cyclo™ drug in a pivotal Phase 3 clinical trial and a
long-term extension study for the treatment of Niemann-Pick disease
Type C1, a rare, fatal and progressive genetic disorder and for the
treatment of Alzheimer’s disease, an irreversible, progressive
neurological disorder, in which high cholesterol is also implicated
as a risk factor.
About Wits University
The University of the Witwatersrand is a leading
research-intensive university in Africa, renowned for its academic
and research excellence, and its commitment to social justice and
the advancement of the public good. Located in Johannesburg (South
Africa), the economic and industrial heartland of Africa, Wits
University is committed to furthering its contribution to
delivering high-level scarce skills for the global knowledge
economy and building partnerships that will have a positive impact
on society.
About Wits Enterprise
Wits Enterprise is a private company, wholly owned by the
University of the Witwatersrand in South Africa. The company is
mandated to promote and commercialize Wits’ intellectual capital,
research and innovations, so as to broaden and deepen Wits’ impact
on society. Wits Commercial Enterprise comprises three units which
each provide dedicated and strategic services that are aligned with
the objective to optimize the University’s impact. These include
Innovation Support, Research Support and Consulting, and Short
Courses and Management Consulting.
About Cyclo Therapeutics
Cyclo Therapeutics, Inc. is a late clinical-stage biotechnology
company dedicated to developing life-changing medicines through
science and innovation for patients and families suffering from
disease. The Company’s Trappsol® Cyclo™, an orphan drug designated
product in the United States and Europe, is being studied in a
Phase 3 pivotal clinical trial for Niemann-Pick Disease Type C, a
rare and fatal genetic disease, (www.ClinicalTrials.gov
NCT02939547, NCT02912793, NCT03893071 and NCT04860960). The Company
is planning a Phase 2 clinical trial using Trappsol® Cyclo™
intravenously in Alzheimer’s Disease based on encouraging data from
an Expanded Access program for late-onset Alzheimer’s Disease
(NCT03624842). Additional indications for the active ingredient in
Trappsol® Cyclo™ are in development. For additional information,
visit the Company’s website: www.cyclotherapeutics.com.
Safe Harbor Statement
This press release contains “forward-looking statements” about
the company’s current expectations about future results,
performance, prospects and opportunities, including, without
limitation, statements regarding the satisfaction of closing
conditions relating to the offering and the anticipated use of
proceeds from the offering. Statements that are not historical
facts, such as “anticipates,” “believes” and “expects” or similar
expressions, are forward-looking statements. These statements are
subject to a number of risks, uncertainties and other factors that
could cause actual results in future periods to differ materially
from what is expressed in, or implied by, these statements. The
factors which may influence the company’s future performance
include the company’s ability to obtain additional capital to
expand operations as planned, success in achieving regulatory
approval for clinical protocols, enrollment of adequate numbers of
patients in clinical trials, unforeseen difficulties in showing
efficacy of the company’s biopharmaceutical products, success in
attracting additional customers and profitable contracts, and
regulatory risks associated with producing pharmaceutical grade and
food products. These and other risk factors are described from time
to time in the company’s filings with the Securities and Exchange
Commission, including, but not limited to, the company’s reports on
Forms 10-K and 10-Q. Unless required by law, the company assumes no
obligation to update or revise any forward-looking statements as a
result of new information or future events.
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version on businesswire.com: https://www.businesswire.com/news/home/20220324005183/en/
Investor Contact: JTC Team, LLC Jenene Thomas (833)
475-8247 CYTH@jtcir.com
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