ExpreS2ion’s joint venture AdaptVac receives Danish InnoBooster grant of 1.2 MSEK for for breast cancer studies in dogs
ExpreS2ion Biotech Holding AB (“ExpreS2ion”) announces today that its joint venture company AdaptVac ApS (“AdaptVac”) has been awarded an InnoBooster grant by the Danish Innovation Foundation worth 0.8 MDKK (approx. 1.2 MSEK). The grant provides further resources for the development of a safe and effective treatment for dogs diagnosed with DER2+ cancer. In addition to targeting the veterinary market for pets, the project will also generate supportive data for AV001, AdaptVac’s preclinical human HER2+ breast cancer program.
The aim of the project is to develop veterinary cancer products, specifically for the canine homologue of the human HER2 cancer target. This creates a revenue potential from AdaptVac’s cancer treatment programs with a shorter time to market compared to treatments aimed at humans. At the same time, the program will generate valuable supportive data for the company’s human HER2+ breast cancer program AV001.
“We are pleased that AdaptVac has received further support for a program that will develop a valuable asset in the veterinary pet market, as well as generate supportive data for its AV001 HER2+ human breast cancer program,” says ExpreS2ion’s CEO Dr. Steen Klysner.
See AdaptVac’s full press release on: https://www.adaptvac.com/news
Market potential in the veterinary market
More than six million dogs develop cancer each year in the US alone. The potential market for treating canine cancer is growing, and DER2 is also a relevant target for additional dog cancer types, e.g. canine osteosarcoma and canine mammary cancer. The potential value of a DER2 dog cancer portfolio can be benchmarked by using the 2014 Advaxis/Aratana deal from 2014, which had an accumulated value of 37 million USD for a comparable portfolio. (see https://aratana.investorroom.com/2014-03-19-Aratana-and-Advaxis-Enter-Exclusive-Global-Licensing-Agreement)
AV001: Strong market potential in human breast cancer
Breast cancer is a widespread oncology indication affecting more than 1.3 million people worldwide annually, resulting in more than 450,000 deaths (Tao, 2015: www.ncbi.nlm.nih.gov/pubmed/25543329). The most common treatment today is based on monoclonal antibodies, where the dominating therapy Herceptin (trastuzumab) generates annual global sales of 7 billion USD. The target product profile of AdaptVac's lead breast cancer project is tailored to be highly competitive both in terms of cost and efficacy, thus aiming at a significant market share.
About AdaptVac ApS
AdaptVac’s technology is a ground-breaking capsid-like particle vaccine platform invented at the University of Copenhagen. The company aims to accelerate the development of highly efficient therapeutic and prophylactic vaccines within high value segments of oncology, infectious diseases and immunological disorders. The company is a joint venture between ExpreS2ion Biotechnologies and NextGen Vaccines founded by the inventor group, utilising the synergy between ExpreS2ion’s recombinant platform and capsid-based vaccines.
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For further information about ExpreS2ion Biotech Holding AB, please contact:
Dr. Steen Klysner, CEO
Telephone: +45 2062 9908
This press release contains information that ExpreS2ion is obligated to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above on October 17, 2019.
ExpreS2ion Biotechnologies ApS is a fully owned Danish subsidiary of ExpreS2ion Biotech Holding AB with company register number 559033-3729. The subsidiary has developed a unique proprietary platform technology, ExpreS2, that can be used for fast and efficient preclinical and clinical development as well as robust production of complex proteins for new vaccines and diagnostics. Since the company was founded in 2010, it has produced more than 300 proteins and 40 virus-like particles (VLPs) in collaboration with leading research institutions and companies, demonstrating superior efficiency and success rates. In addition, ExpreS2ion develops novel VLP based vaccines through the joint venture AdaptVac ApS, which was founded in 2017. For additional information, please visit www.expres2ionbio.com and www.adaptvac.com.