Vienna/Geneva (pts008/07.01.2019/10:45) - * AOP Orphan Pharmaceuticals AG (AOP Orphan) and Chord Therapeutics (Chord) step into a new partnership to develop CRD1 for treatment of orphan autoimmune diseases.
* CDR1 is a new formulation of cladribine, an immunosuppressant with promising activity against autoimmune diseases.
* Autoimmune neurological diseases are a family of severe disorders that result in the immune system inappropriately attacking the nervous system components. These disorders affect more than 100,000 people in Europe and US.
* The aim of the project is to deliver the phase 2 results on CRD1 for the first indication in 2021.
Vienna and Geneva, January 7th, 2019: AOP Orphan and Chord have entered into a partnership to include the development of CRD1 for the treatment of a rare autoimmune condition that afflicts over 40,000 people in Europe and the US. AOP Orphan will contribute drug and clinical development, regulatory and commercial expertise, while Chord will provide intellectual property and scientific expertise.
The joint project aim is to deliver phase 2 results in 2021. Financial terms were not disclosed. The collaboration includes rights to additional unspecified orphan neurological conditions.
"Chord is privileged to have secured the support of AOP Orphan, a company with a passionate dedication to creating new treatments for patients with severe rare conditions, as well as strong capabilities, and a track record of success," said Arthur Roach, Ph.D., CEO of Chord. "We are committed to working with patients and doctors to bring forward a new treatment to halt the progression of this devastating disease."
Dr. Rudolf Widmann, founder and Chief Therapeutic Development Officer of AOP Orphan, adds "We are excited to work with Chord to develop and commercialize this potentially life-changing treatment for people with these severe disorders everywhere. Projects like this are the reason I have founded AOP Orphan."
About Autoimmune Neurological Conditions
A family of severe disorders are the result of the immune system inappropriately attacking components of the nervous system. Many of these conditions appear in young adulthood, affect women more frequently, and persist for life. Treatments used today include steroids and immunosuppression, but disease activity often persists, and significant disability and risk of death remains in many patients. New treatments that are well-tolerated for chronic use are desperately needed to prevent attacks, disability and deaths.
CRD1 is Chord's novel oral formulation of cladribine, a highly selective immunosuppressant with demonstrated efficacy and safety in other hematological and neurological indications. Cladribine is a prodrug that is converted to the active form in specific subsets of human lymphocytes, leading to a reduction in autoimmune disease activity.
About AOP Orphan Pharmaceuticals AG
AOP Orphan is a multinational company with headquarters in Vienna, Austria focusing on clinical research, development and distribution of medicines for rare and complex diseases. The company also provides individualized and customized services to meet and accommodate the needs of physicians and patients across Europe, the Middle East & Asia. Currently AOP Orphan is concentrating on orphan and complex diseases in HematoOncology, Cardiology & Pulmonology and Neurology & Metabolic Disorders.
About Chord Therapeutics
Chord is a single-asset company headquartered in Geneva, Switzerland, dedicated to bringing life-saving treatments to patients suffering from rare diseases without adequate treatment options. Chord holds patents and has received orphan designation from the FDA for the use of CRD1 in autoimmune disorders. http://www.chordtherapeutics.com
AOP Orphan Pharmaceuticals AG
Wilhelminenstrasse 91/IIf, 1160 Vienna, Austria
Dr. Rudolf Widmann, Chief Therapeutic Development Officer