Medivir licenses rights to MIV-802 to Trek Therapeutics
Stockholm/Cambridge, Massachusetts — Medivir AB (Nasdaq Stockholm: MVIR) and Trek Therapeutics (TREKtx) today announced that TREKtx has licensed the exclusive rights to develop and commercialize MIV-802 globally, excluding China, Taiwan, Hong Kong and Macau. MIV-802 is a nucleotide polymerase inhibitor under development for the treatment of hepatitis C virus (HCV) infection.
Under the terms of the agreement, Medivir is entitled to receive milestones based on successful clinical development and royalties capped at a mid-teens percentage upon commercialization of MIV-802 containing products. BioPhausia, a subsidiary of Medivir, is granted options to commercialize MIV-802 containing products in the Nordics and certain Western European countries. Other terms of the transaction were not disclosed.
“We are pleased to have Trek Therapeutics as a partner with their deep knowledge of HCV drug development, and their mission to make competitive treatments accessible to world populations” said Niklas Prager, CEO of Medivir.
TREKtx is developing combination treatments for HCV utilizing its portfolio of antiviral agents including faldaprevir, a protease inhibitor, TD-6450, a NS5A inhibitor, and lomibuvir, a non-nucleoside NS5B inhibitor.
"Nucleotides are essential components of combination regimens to provide a short duration of treatment with low levels of resistance." said Ann Kwong, Ph.D., CEO of TREKtx. “We are excited to develop MIV-802 as part of a highly-effective combination treatment to address HCV.”
For further information, please contact:
Ola Burmark, CFO Medivir AB, mobile: +46 (0) 725 480 580
Jane A. Kramer, Trek Therapeutics, e-mail: firstname.lastname@example.org. Phone: +1-781-799-9524
Medivir is required under the Securities Markets Act to make the information in this press release public.
The information was submitted for publication at 08.45 CET on 17 August 2016.
MIV-802 is a potent, pangenotypic nucleotide inhibitor of the HCV NS5B polymerase. Hepatitis C treatments comprise combinations of pharmaceuticals with different antiviral mechanisms. Preclinical data indicate that MIV-802 can be used effectively in combination with other classes of antiviral agents for the treatment of HCV, including protease inhibitors, non-nucleoside NS5B inhibitors, and NS5A inhibitors.
Medivir is a research based pharmaceutical company with a research focus on oncology and infectious diseases. We have a leading competence within protease inhibitor design and nucleotide/nucleoside science and we are dedicated to develop innovative pharmaceuticals that meet great unmet medical need. BioPhausia is a wholly-owned subsidiary of Medivir, with a portfolio of prescription pharmaceuticals made available for the Nordic market. Medivir is listed on the Nasdaq Stockholm Mid Cap List.
About Trek Therapeutics
Trek Therapeutics, PBC is a private, clinical stage public benefit corporation developing treatments for serious infections. Its mission is to profitably develop affordable and accessible medicines to treat infectious diseases and to commercialize them for global populations. TREKtx is currently conducting phase II clinical trials in patients with chronic HCV infection using a combination of direct acting antivirals, and is also evaluating treatments for other infectious diseases. For further information, please visit www.trektx.com.