ActoGeniX announces that it has been awarded a € 3.07 million grant (approximately USD 4.2 million) from the Flanders government through IWT (Institute for Promotion of Innovation by Science and Technology in Flanders). Together with the € 20 million in venture capital raised by ActoGeniX earlier this year, this IWT funding will allow the Company to timely execute its discovery and development programs based on TopAct TM, its proprietary and innovative platform for targeted delivery of biopharmaceuticals.
This IWT funding, which covers a period of 2 years, will allow ActoGeniX to accelerate the speed at which it is applying its TopActTM platform for the development of novel therapies in the areas of gastrointestinal (GI) diseases, auto-immunity, allergy and metabolic diseases. The Company’s lead product has already been successfully tested in a phase 1 clinical trial in Crohn’s disease patients and ActoGeniX is now preparing for the phase 2 clinical testing in two indications: Crohn’s disease and ulcerative colitis. These studies are anticipated to start during the first half of next year. Additional programs focusing on the development of novel therapeutics for treatment of mucositis, celiac disease, diabetes and obesity are at various stages of pre-clinical discovery and development.
Commenting on this IWT funding, Mark Vaeck, CEO of ActoGeniX, stated: “We are delighted with this significant funding from IWT, which is a clear endorsement of the innovative character and future commercial potential of our R&D pipeline“.
ActoGeniX’ TopAct platform is a revolutionary approach to the way in which protein drugs can be delivered to patients. Its novel oral and topical formulations for biopharmaceuticals could lead to the development of a whole new generation of biotech drugs.
Note for the editor
ActoGeniX was founded in June 2006 as a spin-off from VIB and Ghent University, to apply its proprietary TopActTM platform for the development of novel biopharmaceuticals. TopActTM is a delivery system based on living non-pathogenic micro-organisms for the oral administration of therapeutic proteins and peptides. ActoGeniX is using TopActTM to develop a broad and diverse portfolio of therapeutic products addressing major diseases with high medical need, including gastrointestinal (GI) diseases, auto-immunity, allergy and metabolic diseases. The Company’s initial focus is on GI diseases and its lead product has already been successfully tested in a first clinical trial with Crohn’s disease patients.
VIB and Ghent University, where TopActTM was invented, have contributed their patent portfolio exclusively to ActoGeniX. With broad claims already granted, ActoGeniX is now in a unique position to commercially exploit this novel platform.
ActoGeniX believes that TopActTM represents a paradigm shift in the delivery of biologicals for therapeutic treatment. During the past two decades biopharmaceuticals have emerged as a large and fast-growing segment in the pharmaceutical industry. High specificity and low inherent toxicity are major advantages of protein-or peptide-based therapeutics. However, the injection of relatively large doses of therapeutic proteins in patients results in systemic exposure that may lead to unwanted side effects. Based on its TopAct technology for local and topical delivery of therapeutics in the GI system, ActoGeniX is developing a novel class of biopharmaceuticals with enhanced efficacy and reduced side-effect profile. This represents a significant competitive advantage ini today’s pharmaceutical market where safety and the absence of adverse effects have become major considerations for the development of new therapies. Also, TopAct-based products are formulated for oral delivery, which means greater patient acceptability and reduced cost.
For more information, see www.actogenix.com