Vancouver, British Columbia, March 27, 2017 – Altum Pharmaceuticals Inc. (“Altum” or the “Company”), a biopharmaceutical company engaged in clinical and commercial development of novel pharmaceutical compounds to treat cancer and autoimmune disorders, announces today it has signed an exclusive worldwide license agreement (ex certain eastern EU countries) with Altum-Avro Pharma Partnership (AAPP) for its late-stage, Biphasix™ technology platform, including the lead product candidate, interferon alpha 2b which has shown positive Phase II results in the treatment of HPV . Altum will be responsible for the continued clinical development and subsequent commercialization of the product for the treatment of HPV-induced, low-grade, cervical intraepithelial lesions (CIN). The market for the treatment of HPV-induced CIN is estimated to be in excess of $10 billion.
AAPP acquired the Biphasix™ technology platform and lead product topical interferon alpha 2b from Xisle Ventures Pharma trust which acquired the assets from Helix Biopharma.
Under the terms of the agreement, Altum agreed to; a) certain consideration to AAPP related to the sale of the inventory once the product is commercialized and; b) to milestone and royalty payments to Helix Biopharma as outlined in the original agreement between Xisle and Helix.
“Altum has achieved an important milestone in acquiring the exclusive licence to develop the topical interferon alpha 2b which had positive results in 2 Phase II clinical trials to treat cervical Intra-epithelial Neoplasia. Altum will now focus on conducting Phase III trials to develop the product for the treatment of potentially precancerous, low-grade cervical lesions caused by human papillomavirus (HPV) infections.” said Ahmad Doroudian, Chief Executive Officer of Altum. Mr Doroudian added that “ In addition to the development of topical interferon product Altum has identified other candidate drugs to create a pipeline of topical products based on the Biphasix™ technology for the treatment of pain and autoimmune diseases such as psoriasis.”
About The Biphasix™ Topical Formulation System
The Biphasix™ Topical Formulation System is a platform technology for microencapsulating therapeutic compounds in multilayered, lipid-based microvesicles. These microvesicles have complex structures that include a variety of compartments into which drug molecules can be integrated. The principal application of the technology is in the preparation of topical dosage forms for the dermal (into the skin) or mucosal (into the mucosal tissues) delivery of large molecular weight drug compounds.
About Topical Interferon Alpha-2b
Topical Interferon Alpha-2b incorporates Helix’s patented Biphasix™ drug delivery technology. It is a topical preparation that is intended to be easily self-applied to HPV-infected tissues, to deliver interferon alpha-2b into the skin and mucosal tissues.
About Altum Pharmaceuticals Inc.
Altum Pharmaceuticals Inc. is a private biopharmaceutical company engaged in clinical and commercial development of novel natural and pharmaceutical compounds, to treat cancer and autoimmune disorders. Altum focuses on development and acquisition of novel products specializing on the commercialization of existing products for cancer and diseases mediated by acute and chronic inflammatory reactions. For more information please visit the website at www.altumpharma.com.
DISCLAIMER & FORWARD LOOKING STATEMENTS
Certain information in this press release are forward-looking and relate to Altum’ s anticipated financial position, business strategy, events and courses of action. Words or phrases such as “anticipate,” “objective,” “may,” “will,” “might,” “should,” “could,” “can,” “intend,” “expect,” “believe,” “estimate,” “predict,” “potential,” “plan,” “is designed to” or similar expressions suggest future outcomes. Forward-looking statements include, among other things, statements about: sales and operations; our estimates regarding our capital requirements and our need for additional financing; our ability to anticipate the future needs of our customers; our future growth strategy and growth rate and our future intellectual property. Such statements reflect our current views with respect to future events and are based on assumptions and subject to significant risks and uncertainties. Although we believe that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Our actual results, performance or achievements could differ materially from those contemplated, expressed or implied in our statements as a result of various risk factors, including, but not limited to, business, economic and capital market conditions; market conditions and the demand and pricing for our products; our relationships with our customers, distributors and business partners; our ability to successfully define, design and release new products in a timely manner that meet our customers’ needs; our ability to attract, retain and motivate qualified personnel; competition in our industry; our manufacturing supply chain, including pricing of goods and availability of adequate manufacturing capacity from our manufacturing suppliers; our ability to manage risks inherent in foreign operations; our ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; our ability to manage cash flow, foreign exchange risk and working capital; our ability to manage our growth; fluctuation in our quarterly operating results; and our dependence on key personnel. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements.