WASHINGTON, Sept. 29,
2022 /PRNewswire/ -- Vanda Pharmaceuticals Inc.
(Vanda) (Nasdaq: VNDA) and OliPass Corporation (OliPass) (KOSDAQ:
24460) today announced that they have entered into a research and
development collaboration agreement to jointly develop a set of
antisense oligonucleotide (ASO) molecules based on OliPass'
proprietary modified peptide nucleic acids. This innovative
partnership leverages the respective strengths of Vanda and OliPass
to support the development of ASO-based precision medicine
therapeutics and potentially create compelling value opportunities
for both companies.
The collaboration will focus on editing and modifying gene
expression using ASOs in disease states where the expression of
genes is either altered or the sequence of the expressed genes can
be altered for therapeutic benefit. OliPass' unique Olipass Peptide
Nucleic Acids (OPNA) technology provides the delivery platform to
enable these gene expression modifications.
"We are excited to have a partner to enhance our antisense
oligonucleotide program platform aimed at the treatment of
disorders with well-understood genetic mechanisms and for which
there is a high unmet medical need," said Mihael H. Polymeropoulos, M.D., Vanda's
President, CEO and Chairman of the Board. "Olipass' delivery
platform holds the promise of efficient delivery of our ASO's in
pursuit of the development of precision therapeutics."
"Vanda shares a vision with us on the potential for anti-sense
oligonucleotides to open up a broad range of therapeutic options to
patients," said Dr. Shin Chung, CEO
of OliPass. "We look forward to working together to enhance the
therapeutic profile of these molecules and playing an integral role
in bringing them into the clinical setting."
Vanda has already identified two ASO targets that have been
validated in cell lines that model two undisclosed disease targets,
one rare orphan and the other applicable to a broad set of
immuno-oncological conditions. Vanda's partnership with OliPass to
enhance the existing ASOs with OliPass' unique OPNA chemistry is
the next step to take these preclinical findings to in vivo and
clinical testing.
OPNAs are selectively modified with cationic moieties that
enhance both stability and cell permeability of peptide nucleic
acids (PNA) while maintaining very high binding affinities to
target nucleic acids. Therapeutic efficacy for OPNAs has been
observed with dosages as low as 10 ng/kg in animal models, showing
effects at dosages many orders of magnitude lower than previously
achievable with existing ASO technologies. Furthermore, OPNAs have
the capacity to bind to pre-mRNA in nucleus and enable targeting
pathogenic variants and conditions that were previously
untreatable.
About Vanda Pharmaceuticals Inc.
Vanda is a leading global biopharmaceutical company focused on
the development and commercialization of innovative therapies to
address high unmet medical needs and improve the lives of patients.
For more on Vanda Pharmaceuticals Inc., please visit
www.vandapharma.com and follow us on Twitter @vandapharma.
About OliPass
OliPass Corporation is a public biotech company listed in KOSDAQ
in South Korea. The company is
developing RNA therapeutics based on its proprietary
oligonucleotide platform called OPNA (OliPass Peptide Nucleic
Acids). OPNA was derived from PNA by rational chemical
modifications in order to improve the cell permeability and RNA
affinity. For therapeutic intervention, OPNA potently binds to
target pre-mRNA, induces exon skipping, and yields mRNA splice
variant. Unlike other types of RNA therapeutics, OPNA does not
require formulational aid for in vivo therapeutic activity.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
Various statements in this press release, including, but not
limited to, statements regarding the proposed research and
development activities of the strategic partnership between Vanda
and OliPass, and the potential commercial and therapeutic
opportunities that may result from it, are "forward-looking
statements" under the securities laws. All statements other than
statements of historical fact are statements that could be deemed
forward-looking statements. Forward-looking statements are based
upon current expectations and assumptions that involve risks,
changes in circumstances and uncertainties. Important factors that
could cause actual results to differ materially from those
reflected in such forward-looking statements include, among others,
the ability of Vanda and OliPass to leverage their expertise to
successfully edit and modify gene expression using ASOs, the
ability of OliPass' platform to efficiently deliver Vanda's ASO's
into cells, Vanda's ability to progress the two ASO targets it has
identified from pre-clinical to clinical testing, and Vanda's
ability to complete the development of and obtain regulatory for
these ASO targets. Therefore, no assurance can be given that the
results or developments anticipated by Vanda will be realized or,
even if substantially realized, that they will have the expected
consequences to, or effects on, Vanda. Forward-looking statements
in this press release should be evaluated together with the various
risks and uncertainties that affect Vanda's business and market,
particularly those identified in the "Cautionary Note Regarding
Forward-Looking Statements", "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" sections of Vanda's Annual Report on Form 10-K for the
fiscal year ended December 31, 2021,
as updated by Vanda's subsequent Quarterly Reports on Form 10-Q,
Current Reports on Form 8-K and other filings with the U.S.
Securities and Exchange Commission, which are available at
www.sec.gov.
All written and verbal forward-looking statements attributable
to Vanda or any person acting on its behalf are expressly qualified
in their entirety by the cautionary statements contained or
referred to herein. Vanda cautions investors not to rely too
heavily on the forward-looking statements Vanda makes or that are
made on its behalf. The information in this press release is
provided only as of the date of this press release, and Vanda
undertakes no obligation, and specifically declines any obligation,
to update or revise publicly any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
Vanda Corporate Contact:
Kevin Moran
Senior Vice President, Chief Financial Officer and Treasurer
Vanda Pharmaceuticals Inc.
202-734-3400
pr@vandapharma.com
Elizabeth Van Every
Head of Corporate Affairs
Vanda Pharmaceuticals Inc.
202-734-3400
pr@vandapharma.com
OliPass Corporate Contact:
Jason Kim
Director, Finance
OliPass Corporation
+82(0)2 6488 2232
jkim@olipass.com
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SOURCE Vanda Pharmaceuticals Inc.