Veloxis Pharmaceuticals & Athena Drug Delivery Solutions Announce Partnership

Veloxis Pharmaceuticals and Athena Drug Delivery Solutions recently announced an alliance in which Athena will obtain exclusive rights in certain emerging market territories to manufacture and, with third parties, develop, register, and commercialize Veloxis’ AtorFen (Fenofibrate Atorvastatin fixed-dose combination).

AtorFen will contain the lowest fully effective dose of fenofibrate and is a combination of two effective dyslipidemia treatments in one tablet, thereby potentially improving patient compliance. The product has been developed by Veloxis through Phase II in the US.

Results showed significant improvements in HDL-C, triglycerides, VLDL, and fibrinogen compared with atorvastatin alone (Lipitor 40 mg) as well as significantly greater effect on non-HDL-C, LDL-C, triglycerides, and total cholesterol compared with fenofibrate alone (Tricor 145 mg).

Under this alliance, Athena will establish and fund AtorFen manufacturing capabilities in India and through partnerships with regional and country level pharmaceutical companies develop and, once approved, commercialize the product. Veloxis will transfer its technology for manufacturing of AtorFen to Athena, with all expenses funded by Athena, and Veloxis will retain 70% of all revenues generated (subject to a minimum royalty rate). Veloxis will retain the right to reclaim major territories or regions where third-party distributors are not established by Athena within certain time intervals.

“This alliance will enable Veloxis to establish a competitive presence for AtorFen in emerging markets,” said William Polvino, MD, Chief Executive Officer of Veloxis. “Substantial future growth in the pharmaceutical industry is expected to come from this region where cardiovascular morbidity is on the rise. We’re delighted to have the opportunity to work with Athena, a company that is well positioned in emerging markets. This agreement is part of our strategy to out-license our cardiovascular portfolio to partners who can realize the full value of these assets.”

Based in Horsholm, Denmark, with an office in NJ, Veloxis Pharmaceuticals A/S is a specialty pharmaceutical company. Clinical development is the core of Veloxis’ efforts to develop a product portfolio that includes the company’s lead product candidate, LCPTacro, for immunosuppression, specifically organ transplantation, and products to combat certain cardiovascular diseases. Veloxis adapts new technologies on a fast commercial timetable. Veloxis’ unique, patented delivery technology, MeltDose, can improve absorption and bioavailability at low scale-up costs not only for a broad spectrum of drugs already on the market, but also for NCEs. Veloxis has a lipid-lowering product, Fenoglide, currently on the US market and a diversified near- and medium-term pipeline with three clinical-stage product candidates and a number of projects in preclinical development.