Bioasis & Chiesi Group Announce Rare Diseases Strategic Alliance
Bioasis Technologies, Inc. and Chiesi Global Rare Diseases recently announced they have entered into a worldwide, exclusive licensing agreement for the xB3 BBB platform technology in treatment of rare diseases with a focus on four undisclosed lysosomal storage disorders (LSDs).
Under the terms of the Research Collaboration and License Agreement, Chiesi Group will pay Bioasis an upfront payment of $3 million. Bioasis may also be eligible to receive additional development, regulatory, and commercial milestone payments of up to $138 million, as well as additional royalties on net sales of licensed products, pending market approval. Chiesi Group will be responsible for all costs associated with research, development and commercialization of the four undisclosed LSD programs.
“With this collaboration, we are taking our commitment to bringing innovative therapies to rare disease patients, including those living with LSDs, to an entirely new level,” said Giacomo Chiesi, Head of Chiesi Global Rare Diseases, a business unit of Chiesi Group. “The unique delivery method of their xB3 platform has the potential to overcome a significant challenge in the treatment of many neurological disorders, which is the ability to cross the blood brain barrier. We look forward to working closely with the Bioasis team in advancing several new LSD clinical development programs using this technology platform.”
“We are very pleased to have entered into this agreement and excited to be working with Chiesi Group, a global company with a strong commitment to bringing innovative treatments to patients with LSDs,” said Deborah Rathjen, PhD, Bioasis’ Chair and Chief Executive Officer. “Neurological complications of LSDs remain largely untreatable when peripheral symptoms of disease respond to enzyme replacement therapy. Our xB3 BBB drug delivery platform has the potential to significantly advance the treatment of LSDs and the use of enzyme replacement therapy, solving one of the major unmet needs and improving the lives of patients.”
Lysosomal storage disorders are inherited metabolic diseases that are characterized by an abnormal build-up of various toxic materials in the body’s cells as a result of enzyme deficiencies. The build-up of toxic materials can affect different parts of the body, including the skeleton, brain, skin, heart and central nervous system. There are nearly 50 known LSDs. While there has been progress in clinical research to develop treatments in recent years, for most LSDs there are either no or limited treatment options available.
Chiesi Global Rare Diseases is a business unit of the Chiesi Group, established in February 2020 and focused on research and development of treatments for rare and ultra-rare disorders. The Global Rare Diseases unit works in collaboration with Chiesi Group to harness the full resources and capabilities of our global network to bring innovative new treatment options to people living with rare diseases, many of whom have limited or no treatments available. The unit is also a dedicated partner with global leaders in patient advocacy, research and patient care.
Based in Parma, Italy, Chiesi Farmaceutici is an international research-focused healthcare group with 85 years of experience in the pharmaceutical industry and a global presence in 29 countries. Chiesi researches, develops, and markets innovative drugs in the respiratory therapeutics, specialist medicine, and rare disease areas. Its R&D organization is headquartered in Parma (Italy), and is integrated with R&D groups in France, the US, the UK, and Sweden to advance Chiesi’s preclinical, clinical, and registration programs. Chiesi employs nearly 6,000 people. Chiesi Group is a certified Benefit corporation. For more information, visit www.chiesi.com.
Bioasis Technologies Inc. is a biopharmaceutical company developing the xB3 platform, a proprietary technology for the delivery of therapeutics across the BBB and the treatment of CNS disorders in areas of high unmet medical need. The delivery of therapeutics across the BBB represents the final frontier in treating neurological disorders. Bioasis’ internal pipeline programs are focused on treatments for certain brain cancers and rare diseases, including Gaucher’s Disease Type II, neurodegenerative diseases including Parkinson’s disease and Lewy Body Dementia and neuroinflammatory conditions, including pain, epilepsy and Multiple Sclerosis. Bioasis trades on the TSX Venture Exchange under the symbol “BTI” and on the OTCQB under the symbol “BIOAF.” For more information, visit www.bioasis.us.
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