CleveXel Pharma Partners with Dynamix Pharmaceuticals
Clevexel Pharma has announced that they have entered into a partnering agreement with Dynamix Pharmaceuticals, a venture-backed Israeli biopharmaceutical company focused on the discovery and development of novel, targeted, small-molecule drugs for cancer and autoimmune disorders.
The partnership will cover the development of a dual mechanism SYK/JAK molecule in rheumatoid arthritis. The orally active SYK/JAK product has a new action and is Dynamix’ lead development program.
Over the past decade, efforts have been made to provide an oral treatment for rheumatoid arthritis (RA) with the desired efficacy and safety profile. Oral administration is of great interest as current treatments are mainly only injectable.
The joint aim of the collaboration between CleveXel and Dynamix is to bring the rheumatoid arthritis project to a clinical proof of concept stage. Preclinical development is planned for early 2014. The first in human clinical trial is expected to start in 2015.
Rheumatoid arthritis is a chronic and debilitating autoimmune disease of unknown etiology. It is linked to significant morbidity. The associated inflammatory processes cause the destruction of cartilage and bone, leading to joint swelling, pain and, ultimately, joint destruction.
Over the next few years, the global rheumatoid arthritis market is expected to grow from USD 18.6 billion in 2012 to USD 26.0 billion in 2017 (FirstWord, June 2013).
Rheumatoid arthritis affects 1.3 million Americans and 2.9 million Europeans (Arthritis Foundation) (Abbott). Patients are currently mainly treated with anti-TNF monoclonal antibodies therapies.
“We are happy to collaborate with CleveXel and to gain access to their development expertise”, said Batsheva Elran, managing partner at Opal Ventures and chairman of Dynamix. “This collaboration is an excellent opportunity to share the risks in developing an innovative project in inflammatory diseases and to address unmet needs,” said Dr Itzchak Angel, CEO of Angel Pharmaceutical Consulting and Technologies, who represent Dynamix Pharmaceuticals in this partnership.
“For CleveXel, the partnership will innovate in inflammatory disease, potentially also in oncology,” said Christian Bloy, CEO of CleveXel. “JAK3 and SYK represent new targets that are extremely interesting in order to develop an orally administered product. CleveXel Pharma is very happy to be part of this leading project with Dynamix.”
This new agreement will strengthen CleveXel’s product portfolio both in financial and non-monetary asset investments. This is the fourth molecule in CleveXel’s portfolio since the beginning of 2013.