RhoVac ends the collaboration with Colpman Consulting Ltd
RhoVac AB ("RhoVac") announces today, December 2 2019, that the collaboration agreement with Colpman Consulting Ltd ("Colpman Ltd") has been terminated by mutual agreement, in the light of RhoVac's aim to secure an agreement with a partner after completion of the current clinical phase IIb study.
The agreement that RhoVac signed with Colpman Ltd in March 2018 to find a development partner for RV001 has been formally terminated by mutual agreement. In the future, RhoVac’s CEO, Anders Månsson, will lead the company's business development efforts, which aim to secure an agreement with a partner that can further develop the RV001 project in clinical phase III in prostate cancer, and also in other potential metastatic cancer indications, and subsequently launch the product.
CEO Anders Månsson comments:
“Since I started at RhoVac, I have been involved in the work and the dialogues that Colpman Ltd has initiated on RhoVac's behalf. Colpman Ltd has done a good job, but as Rhovac chose to proceed with the value-adding clinical phase IIb study in-house, both the time perspective and the offer to our potential partners have changed. RV001 is now a project that, after completion of the current clinical phase IIb study in prostate cancer, can be taken directly into phase III, the last stage of development before market approval. With the great potential that RV001 can have for treating metastatic prostate cancer specifically - and metastatic cancer in general - I look forward to further intensifying our own business development efforts as we approach the end of the ongoing clinical phase IIb study."
For further information, please contact:
Anders Månsson – CEO, RhoVac AB
Phone number: +46 73-751 72 78
This information is such that RhoVac AB is obliged 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 2nd December 2019.
About RhoVac AB
RhoVac was established as a private company in Denmark in 2007. Under this company, the basic development steps for the drug candidate RV001 were undertaken. In 2015 the Swedish RhoVac AB was formed, which is now headquartered and in 2016 the company was listed on the then Aktietorget in Sweden (now Spotlight Stock Market). RhoVac has now passed the early stages of development. In 2018, the first clinical trial (phase I / II) was completed in prostate cancer, demonstrating that RV001 has good safety and is well tolerated, and that the drug provides the expected immune response that will exert its effect on the cancer cells. The strong immune response has also been shown to last over time. Therefore, RhoVac is immediately launching a major Phase IIb clinical trial that will include at least 175 prostate cancer patients. The study, which is expected to be completed in 2021, is designed to show, with statistical significance, the effect of RV001 in preventing disease progression in prostate cancer after surgery or radiation to the primary tumor. RhoVac is listed on Spotlight, Sweden, a Multilateral Trading Facility (MTF) since March 2016. The share is traded under the ticker RHOVAC. Read more at www.rhovac.com