HOOKIPA Pharma Achieves $5 Million Milestone Payment from Gilead Sciences for Progress in the Development of Hepatitis B Vaccine
January 04 2023 - 07:00AM
GlobeNewswire Inc.
HOOKIPA Pharma Inc. (NASDAQ: HOOK, ‘HOOKIPA’), a company developing
a new class of immunotherapies based on its proprietary arenavirus
platform, today announced that it has achieved a $5 million
non-dilutive milestone payment under its collaboration agreement
with Gilead Sciences, Inc. HOOKIPA completed and delivered a
regulatory support package for Gilead’s Phase 1 clinical trial of
an investigational therapeutic vaccine for chronic hepatitis B
using HOOKIPA’s arenaviral platform. The first participant in the
Phase 1 clinical trial is expected to be dosed in 2023.
“We’re proud of our team for achieving this
milestone in our collaboration with Gilead and excited that the
hepatitis B candidate is progressing to the clinic,” said Joern
Aldag, Chief Executive Officer. “Chronic hepatitis B infection
remains an area of considerable unmet need, and we look forward to
seeing the potential impact of our novel arenaviral platform as a
component of care.”
Of note, preclinical data on the hepatitis B
vaccine as a potential component for a curative regimen were
recently presented at the American Association for the Study of
Liver Diseases (AASLD) and selected by AASLD as a “Best of the
Liver Meeting” highlight (Balsitis S et al, Abstract 23, page 7).
Gilead is solely responsible for further development and
commercialization of the hepatitis B product candidate. HOOKIPA is
eligible to receive milestone payments based on the achievement of
specified development, regulatory, and commercial milestones up to
a total of more than $190 million. HOOKIPA is also eligible to
receive tiered royalties on net sales.
The hepatitis B program is one of two
independent development programs in HOOKIPA’s collaboration and
license agreement with Gilead. The other program aims to develop a
novel arenaviral vaccine as a component of a potential functional
curative regimen for human immunodeficiency virus (HIV). HOOKIPA is
responsible for advancing the investigational HIV therapeutic
vaccine through completion of a Phase 1b clinical trial.
About HOOKIPA
HOOKIPA Pharma Inc. (NASDAQ: HOOK) is a
clinical-stage biopharmaceutical company focused on developing
novel immunotherapies, based on its proprietary arenavirus
platform, which are designed to mobilize and amplify targeted T
cells and thereby fight or prevent serious disease. HOOKIPA’s
replicating and non-replicating technologies are engineered to
induce robust and durable antigen-specific CD8+ T cell responses
and pathogen-neutralizing antibodies. HOOKIPA’s pipeline includes
its wholly owned investigational arenaviral immunotherapies
targeting Human Papillomavirus 16-positive cancers, prostate
cancers, and other undisclosed programs. HOOKIPA is collaborating
with Roche on an arenaviral immunotherapeutic for KRAS-mutated
cancers. In addition, HOOKIPA aims to develop functional cures of
HBV and HIV in collaboration with Gilead.
Find out more about HOOKIPA online
at www.hookipapharma.com.
For further information, please contact:
Media |
Investors |
Instinctif Partners |
Matt Beck |
hookipa@instinctif.com |
Executive Director - Investor Relations |
+44 (0) 7457 2020 |
matthew.beck@hookipapharma.com |
|
+1 917 209 6886 |
Forward Looking Statements
Certain statements set forth in this press
release constitute “forward-looking” statements within the meaning
of the Private Securities Litigation Reform Act of 1995, as
amended. Forward-looking statements can be identified by terms such
as “believes,” “expects,” “plans,” “potential,” “would” or similar
expressions and the negative of those terms. Such forward-looking
statements involve substantial risks and uncertainties that could
cause HOOKIPA’s research and clinical development programs, future
results, performance or achievements to differ significantly from
those expressed or implied by the forward-looking statements. Such
risks and uncertainties include, among others, the uncertainties
inherent in the drug development process, including HOOKIPA’s
programs’ early stage of development, the process of designing and
conducting preclinical and clinical trials, the regulatory approval
processes, the timing of regulatory filings, the challenges
associated with manufacturing drug products, HOOKIPA’s ability to
successfully establish, protect and defend its intellectual
property, risks relating to business
interruptions resulting from the coronavirus (COVID-19) disease
outbreak or similar public health crises, the impact of COVID-19 on
the enrollment of patients and timing of clinical results, and
other matters that could affect the sufficiency of existing cash to
fund operations. HOOKIPA undertakes no obligation to update or
revise any forward-looking statements. For a further description of
the risks and uncertainties that could cause actual results to
differ from those expressed in these forward-looking statements, as
well as risks relating to the business of the company in general,
see HOOKIPA’s quarterly report on Form 10-Q for the quarter ended
September 30, 2022, which is available on the Security and
Exchange Commission’s website at www.sec.gov and HOOKIPA’s
website at www.hookipapharma.com.
Investors and others should note that we
announce material financial information to our investors using our
investor relations website (https://ir.hookipapharma.com/), SEC
filings, press releases, public conference calls and webcasts. We
use these channels, as well as social media, to communicate with
our members and the public about our company, our services and
other issues. It is possible that the information we post on social
media could be deemed to be material information. Therefore, we
encourage investors, the media, and others interested in our
company to review the information we post on the U.S. social media
channels listed on our investor relations website.
HOOKIPA Pharma (NASDAQ:HOOK)
Historical Stock Chart
From Feb 2023 to Mar 2023
HOOKIPA Pharma (NASDAQ:HOOK)
Historical Stock Chart
From Mar 2022 to Mar 2023