TIDMROQ
RNS Number : 3604Q
Roquefort Therapeutics PLC
20 February 2023
20 February 2023
Roquefort Therapeutics plc
("Roquefort Therapeutics" or the "Company")
Randox Licence and Royalty Agreement
Agreement helps validate and drive Midkine programs
Roquefort Therapeutics (LSE:ROQ, OTCQB:ROQAF), the Main Market
listed biotech company focused on developing first in class
medicines in the high value and high growth oncology market , is
pleased to announce that it has signed an exclusive licence and
royalty agreement, for the field of medical diagnostics only, with
a leading international diagnostics company, Randox Laboratories
Ltd ("Randox"), in relation to its Midkine antibody portfolio (the
"Randox Licence Agreement").
In accordance with the terms of the Randox Licence Agreement,
Roquefort Therapeutics has granted an exclusive worldwide licence
(excluding Japan,) for a period of ten years to utilise its Midkine
antibodies in the field of medical diagnostics. Randox and
Roquefort Therapeutics will engage in collaborative research
programs to identify new cancer diagnostics that will be treatable
with the Company's Midkine therapeutics.
The commercial terms of the Randox Licencing Agreement remain
confidential; however, Roquefort Therapeutics estimates that the
total overall transaction value to the Company over the life of the
agreement is in excess of GBP5 million.
The partnership with Randox focuses on medical diagnostics to
detect the cancers that express Midkine, a heparin-binding protein
which is highly expressed in cancer, prevents tumour cell death and
promotes metastatic spread and resistance to treatment. This
licence agreement validates Roquefort Therapeutics' strategy of
targeting Midkine and, by partnering with a leading diagnostics
company producing the diagnostics which are crucial for clinical
trials, the Company can remain focused on developing first in class
oncology medicines.
Detecting cancer early significantly enhances the survival
chances of patients with the most common cancers. The Randox
Licence Agreement is important for future cancer treatment because
identifying the patients with cancers that express Midkine is
highly synergistic with the development of first-in-class cancer
medicines. These are the patients most likely to benefit from
Midkine therapeutics (antibodies or oligonucleotides) and to be
enrolled in pharmaceutical clinical trials, a key area of focus for
Roquefort Therapeutics.
Ajan Reginald, CEO of Roquefort Therapeutics said: "This is
highly complementary and synergistic partnership with the UK's
leading diagnostics company, Randox which enables Roquefort
Therapeutics to remain focused on developing first-in-class
medicines, while Randox develops the Midkine cancer diagnostics
that are essential for our clinical trials. Not only does the
transaction highlight our robust IP position and strengthen our
balance sheet it also reflects the high level of interest in our
novel cancer pipeline and highlights the Company's rapid
translation and deal-making capabilities."
Dr Peter FitzGerald CBE FREng DL, Managing Director of Randox
said: "Randox are committed to the promotion of preventative
healthcare through early, more accurate diagnosis and we are
delighted to partner with Roquefort Therapeutics to utilise their
Midkine antibodies in our comprehensive suite of diagnostic
capabilities. Midkine is highly expressed in cancer, and by
enabling earlier diagnosis of patients we can help improve both
quality of life and the clinical outcome."
-Ends-
Enquiries:
Roquefort Therapeutics plc
Stephen West (Chairman) / Ajan +44 (0)20 3918
Reginald (CEO) 8633
Hybridan LLP (Joint Broker)
Claire Louise Noyce
Optiva Securities Limited (Joint +44 (0)203 764
Broker) 2341
+44 (0)20 3411
Christian Dennis 1881
Buchanan (Public Relations)
Ben Romney / Jamie Hooper / George +44 (0)20 7466
Beale 5000
LEI: 254900P4SISIWOR9RH34
About Randox
Randox is an international health and toxicology company in the
in vitro diagnostics industry headquartered in the UK and owned by
Peter FitzGerald. The company is committed to 'prevention' within
healthcare, using more comprehensive and sensitive diagnostics to
enable timely intervention - improving clinical outcomes at reduced
cost. The company develops diagnostic solutions for hospitals,
clinical, research and molecular labs, food testing, forensic
toxicology, veterinary labs and life sciences. It develops,
manufactures, and markets reagents and equipment for laboratory
medicine, with a distribution network of 145 countries.
About Roquefort Therapeutics
Roquefort Therapeutics (LSE:ROQ, OTCQB:ROQAF) is a Main Market
listed biotech company developing first in class drugs in the high
value and high growth oncology segment prior to partnering or
selling to big pharma.
Since listing in March 2021, Roquefort Therapeutics has
successfully acquired Lyramid Pty Limited, a leader in the
development of medicines for a new therapeutic target, Midkine (a
human growth factor associated with cancer progression), and most
recently acquired Oncogeni Ltd, founded by Nobel Laureate Professor
Sir Martin Evans, which has developed two families of innovative
cell and RNA oncology medicines.
Roquefort Therapeutics' portfolio consists of four fully funded,
novel patent-protected pre-clinical anti-cancer medicines. The
highly complementary profile of four best-in-class medicines
consists of:
-- Midkine antibodies with significant in vivo efficacy and toxicology studies;
-- Midkine RNA therapeutics with novel anti-cancer gene editing action;
-- STAT-6 siRNA therapeutics targeting solid tumours with significant in vivo efficacy; and
-- MK cell therapy with direct and NK-mediated anti-cancer action.
For further information on Roquefort Therapeutics, please visit
www.roquefortplc.com and @RoquefortTherap on Twitter.
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